Proposed Housing Finance Reform Bill Builds On Corker-Warner Proposal
Senate Banking Committee Chairman Tim Johnson, D-S.D., and ranking member Mike Crapo, R-Idaho, have introduced a bipartisan housing finance reform bill that builds...
Fifth Third Bails On Wholesale Lending
Due to the 'significant changes within the mortgage industry over the past several years,' Cincinnati-based Fifth Third Bank - one of the country's...
FHA Looking To Avoid Second Treasury Draw
As was expected (and hoped for), it appears that the Federal Housing Administration (FHA) will not need another Treasury draw in order to...
Real Housewives Stars Plead Guilty To Mortgage Fraud
'Real Housewives of New Jersey' stars Teresa Giudice, 41, and Giuseppe 'Joe' Giudice, 43, both of Towaco, N.J., have each pleaded guilty in...
Jumbo Leads The Way To Widespread Private Investor Market
Jumbo is back and is increasing market share in a big way. Recent rates for jumbo mortgages have been either close to or...
CFPB Reform Bill Passes In House
By a mostly party line vote, the U.S. House of Representatives late Thursday approved a Republican-backed bill that would substantially change the way...
Moody’s: Halting MSR Deals Could Push Servicers Into ‘Non-Prime’ Lending
Moody's has issued a report citing concern that non-bank mortgage servicers might start originating risky or 'non-prime' loans if regulators start limiting their...
JPMorgan To Slash Another 8,000 Jobs; 6,000 In Mortgage Division
JPMorgan is reportedly eliminating up to 8,000 jobs, including about 6,000 in its mortgage division, and is lowering its profitability target. According to...
CFPB Fines Connecticut Mortgage Lender For RESPA Violations
First Alliance Lending, a small mortgage lender based in Connecticut focused on providing loss mitigation financing to distressed borrowers, will pay an $83,000...
Antonakes: ‘Groundhog Day Is Over’ For Mortgage Servicers
The Consumer Financial Protection Bureau's (CFPB) gloves are apparently off - and 'Groundhog Day' for mortgage servicers is over. Steven Antonakes, deputy director...
Borrowers Keep Moving To ARMs; Credit Requirements Keep Loosening
During the first month of the new year, credit requirements continued to loosen, and the percentage of adjustable-rate mortgage (ARM) loans continued to...
Bank Of America, HSBC Settle Force-Placed Insurance Suits
Bank of America and HSBC have reportedly agreed to settle lawsuits brought by homeowners who claim the banks overcharged them for force-placed insurance....
Regulator: Non-Bank Servicers Growing Too Fast
Benjamin Lawsky, superintendent of New York's Department of Financial Services, who last week halted Wells Fargo's planned sale of mortgage servicing rights (MSRs)...
HARP Hits 3 Million Mark
More than 3 million homeowners had refinanced their mortgages through the Home Affordable Refinance Program (HARP) as of November, according to the Federal...
CFPB Seeks To Expand HMDA Data
In order to better monitor the mortgage market, the Consumer Financial Protection Bureau (CFPB) is planning to expand the information mortgage lenders are...
Morgan Stanley, JPMorgan Settle With FHFA For $1.86 Billion
Morgan Stanley and JPMorgan Chase & Co. will pay a combined $1.86 billion to settle claims brought by the Federal Housing Finance Agency...
BofA’s $8.5 Million Settlement With Investors Is Delayed
Five days after it was approved, a New York State judge has delayed a final ruling in Bank of America Corp.'s $8.5 billion...
FHA Widens Its Acceptance Of Electronic Signatures
The Federal Housing Administration (FHA) is making the transition to e-documents that will pave the way for the 'e-mortgage' to finally become a...
CFPB Accuses PHH Corp. Of Mortgage Insurance Kickbacks
Although it will be up to an in-agency judge to determine exactly what laws have been violated, if any, and what the penalties...
Fed To Stay The Course: Tapering Continues
The Federal Reserve will stay the course, reducing monthly acquisitions of Treasury notes and mortgage-backed securities (MBS) by a total of $10 billion...