Despite the best efforts of supporters readying another push to legislatively enhance the Home Affordable Refinance Program, a proposed HARP 3.0 bill in the Senate will ultimately remain a once-interesting idea whose time has passed, say industry observers. From its initial introduction during the 112th Congress through subsequent tweaking and refiling earlier this year, the Responsible Homeowner Refinancing Act of 2013, S. 249, by Sens. Robert Menendez, D-NJ, and Barbara Boxer, D-CA, has struggled to gain traction in the Senate. The Obama administration has mounted...
The FHA said it is working to define a qualified mortgage standard that meets the QM criteria under the Dodd-Frank Act, which takes higher priced mortgages into account.
The top contributors to the new Redwood Trust jumbo deal include George Mason Mortgage, Cole Taylor Mortgage, W.J. Bradley Mortgage Capital and PrimeLending.
The Inspector General of the Federal Reserve has initiated an evaluation of the CFPBs integration of enforcement attorneys into its examinations of banks and nonbanks.