FHA To Tap Treasury For $1.7 Billion
The Federal Housing Administration (FHA) is requesting a $1.7 billion infusion of capital from the U.S. Treasury by Sept. 30 in order to...
FHFA Launches Campaign To Boost HARP Participation Rates
The Federal Housing Finance Agency (FHFA) has launched a new website and hired HGTV personality and Power Broker star Mike Aubrey to help...
Fed: No Taper Yet
Citing the fact that unemployment remains high, mortgage rates are on the rise, credit is tightening and current fiscal policy is 'restraining economic...
Bondholders’ Suit Over Eminent Domain Is Dismissed
A U.S. District Court judge has dismissed a lawsuit brought by a group of bondholders against Richmond, Calif., regarding the city's controversial plan...
Jim Blatt: For Effective Marketing, Lenders Need ‘Complete’ CRM System
PERSON OF THE WEEK: Jim Blatt is the CEO and co-founder of St. Louis, Mo.-based Mortgage Returns, a provider of database-driven, automated marketing...
CFPB Finalizes Second Set Of Clarifications On Mortgage Rules
The Consumer Financial Protection Bureau (CFPB) has released a second set of amendments and clarifications to the mortgage rules introduced January 2013, thus...
Richmond Moves Forward With Eminent Domain Plan
Richmond, Calif.'s controversial plan to use eminent domain to seize underwater mortgages in an effort to help homeowners avoid foreclosure took a giant...
OIG: HUD Lacks Resources To Combat Fraud
The Department of Housing and Urban Development (HUD) lacks the necessary resources to address an ongoing fraud problem within its programs, David A....
Nevada City Rejects Eminent Domain Proposal
The North Las Vegas, Nev., City Council has rejected a proposal to use eminent domain as a tool to help homeowners get out...
Changes Coming To HUD’s Reverse Mortgage Program
Following passage in the House and Senate in June and July, respectively, President Obama signed the Reverse Mortgage Stabilization Act into law on...
Jonathan Kunkle: Mortgage Industry Needs To Be More Data-Driven
PERSON OF THE WEEK: Jonathan Kunkle is president of LenderLive Network's GuardianDocs division. MortgageOrb recently interviewed Kunkle to get his views on how...
Alternate Approach In Revised QRM Rule Not Likely To Fly
The revised qualified residential mortgage (QRM) rule that federal regulators introduced Wednesday includes two separate and strikingly different approaches to establishing risk retention...
Regulators Release Revised QRM Rule
The Federal Reserve and five other regulators today introduced a revised qualified residential mortgage (QRM) rule that requires lenders to keep a stake...
CFPB Adds New Members
The Consumer Financial Protection Bureau (CFPB) has added three new members to its ranks and promoted another from within. Cheryl Parker Rose joins...
EverBank Agrees To Pay $37M To Customers, $6.3M To Housing Assistance Groups
Jacksonville, Fla.-based lender EverBank has agreed to pay approximately $37 million in cash payments to more than 32,000 mortgage borrowers, the Office of...
USFN Reflects On 25 Years Of Change In Mortgage Banking
Challenging. It is a word that has become synonymous with the mortgage banking industry in recent years, and 2013 has been no exception....
Marko Berishaj: Crucial Changes Must Be Made To CFPB’s 3% Cap Rule
PERSON OF THE WEEK: Marko Berishaj is executive vice president of Port Huron, Mich.-based Michigan Mutual Inc., a full-service residential mortgage lender licensed...
CFPB: Some Mortgage Servicers Struggling With Compliancy
Just how far along are mortgage servicers in terms of complying with the Consumer Financial Protection Bureau's (CFPB) new rules? According to a...
CFPB Says Debt Settlement Company Deceived Consumers, Files Suit
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Costa Mesa, Calif.-based debt settlement company Morgan Drexen Inc. and its president...
Global Regulators Want Stricter Oversight Of Mortgage Insurance Companies
Mortgage debt should undergo regular stress tests, and mortgage insurers should be required to shore up their reserves in case there's another global...