Federal Reserve To Continue Tapering At Current Pace
Citing the fact that the labor market continues to be weak and too many Americans remain unemployed, the Federal Reserve announced on Wednesday...
HSBC Holdings Settles With FHFA For $550 Million
HSBC Holdings PLC is the latest bank to settle with the Federal Housing Finance Agency (FHFA) over poorly underwritten mortgages sold to government-sponsored...
MBA: Mortgage Application Volume Fell A Dramatic 7.2%
Mortgage application volume took a steep dive during the week ending Sept. 5, mainly due to the Labor Day weekend. Overall, application volume...
The Importance Of Mortgage Accounting Basics
BLOG VIEW: As most mortgage professionals already know, running a successful mortgage company requires proficiency in accounting. The books and records created at...
Fannie Mae: Housing Recovery Is Decelerating
Six years into the so-called 'housing recovery,' consumer sentiment toward homeownership has never been worse. According to Fannie Mae's National Housing Survey, the...
FHFA Unveils Proposed Housing Goals For Fannie, Freddie
As required by the Housing and Economic Recovery Act of 2008, the Federal Housing Finance Agency (FHFA) has embarked its annual task of...
NAR: Pending Homes Sales Up 3.3% In July
Pending home sales increased 3.3% in July compared to June, but were still 2.1% below July 2013, the National Association of Realtors (NAR)...
Back In Black: Average Profit Per Loan Jumped To $954 In Q2
An increase in mortgage originations that made many lenders more operationally efficient helped boost the average net profit made on each loan closed...
OIG Report Says TBW Fraud Scheme Could Have Been Avoided
The elaborate mortgage fraud scheme perpetrated by lender Taylor, Bean and Whitaker (TBW) and its warehouse lender, Colonial Bank, which resulted in billions...
Goldman Sachs Settles With FHFA For $3.15 Billion
Goldman Sachs will pay $3.15 billion to repurchase poorly underwritten mortgage-backed securities that it sold to Fannie Mae and Freddie Mac in the...
CFPB Selects Vendors And Lenders For Its Mortgage E-Closing Pilot
The Consumer Financial Protection Bureau (CFPB) has revealed the vendors and lenders that will be participating in its mortgage e-closing pilot program, which...
BofA To Pay Nearly $17 Billion To Resolve Mortgage Bond Probe
Bank of America will reportedly pay nearly $17 billion to settle allegations brought by the U.S. Department of Justice (DOJ) that it packaged...
CFPB Reminds Servicers To Follow The Rules When Transferring MSRs
Due to its 'concern' over the 'continuing high volume of servicing transfers,' the Consumer Financial Protection Bureau (CFPB) is reminding mortgage servicers that...
Census Bureau: Housing Starts Jumped 15.7% In July
Housing starts jumped in July compared to June to reach the highest level in eight months, as home builder confidence improved, the U.S....
Top FHA Official Transitioning To The CFPB: Report
Patricia McClung is reportedly leaving her post as single-family housing policy advisor at the U.S. Department of Housing and Urban Development (HUD) to...
FHFA Seeks Feedback On Proposed Single Security For GSEs
The Federal Housing Finance Agency (FHFA) has unveiled its proposal to create a single, common security that would be issued and guaranteed by...
New Treatment Of Medical Debt Could Raise Consumers’ FICO Scores
Certain consumers hoping to secure a mortgage for a home purchase may have just gotten a big break, as FICO is adjusting its...
Galante Leaving FHA For Berkeley Professorship
Carol Galante is reportedly stepping down as commissioner of the Federal Housing Administration (FHA) this fall so that she can take a professorship...
Former NFL Star Irving Fryar To Enter Plea In Mortgage Fraud Case
Former National Football League (NFL) star Irving Fryar is reportedly scheduled to appear in New Jersey state court later this month, when he...
Survey Shows ATR/QM Rules Are Negatively Affecting Approvals
As a mortgage banker, would you be surprised to learn that the Consumer Financial Protection Bureau's (CFPB) new mortgage rules are reducing approval...