MBA Critical Of FHFA Recommendations
The Mortgage Bankers Association (MBA) says it is supportive of many recommendations contained in the Federal Housing Finance Agency's (FHFA) annual report to Congress,...
Fannie Mae Provides Updated Economic Forecast
According to the Fannie Mae Economic & Strategic Research Group’s June 2017 Economic and Housing Outlook, the current economic expansion is forecast to continue,...
Mortgage Delinquencies Dropped To A 10-Year Low In March
CoreLogic’s most recent Loan Performance Insights Report shows that, nationally, 4.4% of mortgages were in some stage of delinquency (30 days or more past...
Open Mortgage Launches Wholesale Program
Open Mortgage LLC, a provider of traditional and reverse mortgages throughout the U.S., has rolled out a wholesale program for traditional and reverse (HECM)...
Why Repealing Dodd-Frank Will Fail
The last time the Financial CHOICE Act was up before Congress, the bill went nowhere.
Mortgage Servicer Fay Servicing Penalized By CFPB For Illegal Foreclosure Practices
The Consumer Financial Protection Bureau (CFPB) has ordered mortgage servicer Fay Servicing to pay up to $1.15 million in redress to borrowers for "failing...
MBA: Cost To Originate A Mortgage Hit New Peak In Q1 At $8,887 Per...
Mortgage lenders made a little less profit per loan during the first quarter, due mainly to higher operating expenses.
According to the Mortgage Bankers Association's...
Black Knight: Origination Volume Fell 34% In Q1
Mortgage origination volume fell 34% in the first quarter compared with the fourth quarter, driven mainly by a 45% drop in refinances, according to...
HMDA Changes Are Coming: Are You Prepared?
BLOG VIEW: Nationstar Mortgage was recently fined $1.75 million for violating the Home Mortgage Disclosure Act (HMDA) by allegedly consistently failing to report accurate...
Mortgage Volume Was Abysmal In Q1
How well did mortgage lenders do during the first quarter, volume-wise?
In a word: abysmal.
At least, when compared with recent past quarters.
A little over 1.4...
What Are Mortgage Companies Doing To Help Borrowers With Limited English?
"What?"
The Federal Housing Finance Agency (FHFA) is seeking feedback from mortgage lenders and servicers to learn more about what they are doing to help...
FHFA, Fannie Mae Cease Selling REOs To Rent-To-Own Companies
Apparently, there is a problem with leasing REOs "as is" and shifting responsibility for repairs and maintenance to the renter in certain "rent-to-own" models.
Black Knight: Mortgage Delinquencies Hit Eight-Year High In April
The delinquency rate on first-lien mortgages (30 days or more past due) stood at 4.08% as of the end of April - an increase...
New York Fed: Q1 U.S. Household Debt Surpassed Peak Set In 2008
U.S. household debt increased 1.2%, or $149 billion, in the first quarter compared with the fourth quarter to reach $12.73 trillion, according to the...
OneWest’s Financial Freedom Fined $89M For Improperly Servicing HECM Loans
OneWest Bank, which was founded by Department of the Treasury Secretary Steven Mnuchin and other investors after they took over failing mortgage lender IndyMac,...
E-Signature Firm DocuSign Hit With Email Phishing Scam
DocuSign, which provides e-signature technology to the mortgage industry, reports that some of its ancillary systems were recently hacked; however, only email addresses were...
Philadelphia Sues Wells Fargo For Alleged Fair Housing Act Violations
The bank's practices "disproportionately affected minority borrowers" and resulted in foreclosures throughout the city, Mayor Jim Kenney says.
Mel Watt: GSE Reform Needs To Happen Soon
Watt, however, seems content to leave the whole thing up to Congress.
North Carolina Hosts Its First All-Electronic E-Closing
North Carolina made history last week when it hosted its first paperless, all-electronic e-closing in the state.
What's more, it was only the fifth all-electronic...
MORNING COMMUTE: CFPB Seeks Feedback On Mortgage Servicing Rules
MORNING COMMUTE: Morning Commute makes its triumphant return after a four-week hiatus.
And the music this morning was Allan Holdsworth's "Road Games," a fabulous jazz...