Freedom Mortgage Settles With HUD For $113 Million
The company was accused of knowingly originating and underwriting Federal Housing Administration (FHA)-backed mortgages that did not meet FHA guidelines.
FHFA Moves Forward With Principal Reduction Modification Program
The Federal Housing Finance Agency (FHFA) is moving ahead with a controversial plan to write-down the mortgages of about 33,000 severely delinquent, "underwater" borrowers...
Back To The Drawing Board: Five Banks Must Re-Submit Resolution Plans
The most recent resolution plans, or "living wills," of five of the eight largest U.S. banks have been rejected by the Federal Deposit Insurance Corp. (FDIC) and the Federal Reserve Board.
Merrill Lynch Home Loans Pulls Origination, Subservicing Business From PHH
PHH Corp. on Monday announced that one of its major clients, Merrill Lynch Home Loans, a division of Bank of America, had decided to...
Wells Fargo To Pay $1.2B In Settlement With HUD Over Faulty Mortgages
It is reportedly the largest settlement related to the faulty underwriting of mortgages ever reached with HUD.
Equifax: 2015 Not A Bad Year For Mortgage Originations
Despite some major headwinds, 2015 was a fairly good year for mortgage lending, according to Equifax's National Consumer Credit Trends Report.
The report shows that...
Freedom Mortgage To Acquire Correspondent Origination Assets Of JP Morgan Chase’s Rural Housing Business
The acquisition allows Freedom to expand its correspondent business at a time when Chase is simplifying its products.
MBA: Applications For Refinances Jumped 7% On Lower Rates
Mortgage application volume increased 2.7% on an adjusted basis during the week ended April 1, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage...
Black Knight: Most Underwater Properties Are In The Lower Price Tier
Although the number of homeowners who are underwater on their mortgages continues to decrease nationwide, a higher percentage of those who remain underwater are...
First American Buys Forsythe Appraisals
The deal expands First American Mortgage Solutions’ existing valuation capabilities by giving customers access to an integrated valuation solution that provides access to staff appraisers nationwide.
OCC: Mortgage Performance Continued To Improve In Q4
Performance of first-lien mortgages continued to improve during the fourth quarter of 2015, according to the latest data from the Office of the Comptroller...
DocMagic Launches Total E-Closing Solution
DocMagic has finally got its apps together.
The mortgage software company reports that it has bundled its e-document, e-signature, e-notary, e-registration, e-delivery, e-note and e-vault...
STRATMOR: TRID Is Boosting Customer Satisfaction
One of the big questions mortgage lenders and others involved in the mortgage process have been asking for the past year is whether the...
UnHARPing: A New Opportunity For Mortgage Lenders?
Only about 10% of existing HARP borrowers have refinanced, according to Freddie Mac, so there are a lot more who could emerge as refinancing candidates.
Is It Time For Zero-Zero Mortgages?
BLOG VIEW: Mortgage lenders have traditionally wanted both an origination fee plus points when making a loan, but now there's evidence that such charges...
Emeka Madu: AMCs Must Perform Third-Party Due Diligence, Too
PERSON OF THE WEEK: With the constant regulatory changes impacting the appraisal industry - and the mortgage industry at large - some appraisal management...
A Mortgage Insurer’s View Of Housing Affordability
BLOG VIEW: Because the private mortgage insurance industry plays a major role in helping first-time home buyers by lowering the down payment requirements, it...
Titan Lenders Acquired By MetaSource
“Not only does Titan bring a combination of solutions and mortgage industry expertise, but it was also apparent that our mission and values were in alignment.”
Bringing Automation To Asset Location And Verification
BLOG VIEW: The mortgage industry continues to make significant strides toward innovation. Across the board, lenders and their various partners have automated several key...
Mortgage Lender W.J. Bradley Suddenly Closes Shop
“After consulting with its advisors, the company determined that an orderly wind-down is in the best interest of the company, its creditors and other stakeholders,” a message posted to the firm’s homepage says.