The federal judge in charge of overseeing multiple lawsuits filed by the Federal Housing Finance Agency against non-agency mortgage-backed securities issuers for misrepresenting deals that were sold to Fannie Mae and Freddie Mac rebuffed yet another motion by one of the banks to shut down the legal action.
In a few weeks the White House will release its new budget and there’s increasing speculation that it will ask for $3 billion to $5 billion for the beleaguered FHA Mutual Mortgage Insurance Fund…
A summary of the much anticipated loan officer compensation rule is set to be published by the CCFPB by close of business Friday, an industry official who was briefed on the mater told Inside Mortgage Finance.
The Consumer Financial Protection Bureau issued its final rules on residential servicing practices early Thursday morning, cracking down on dual tracking, and telling the industry it cannot engage in a foreclosure sale until “all other alternatives” are considered.
Ocwen Financial Corp. is meeting with its investment bankers on Wall Street today about a proposed senior credit facility that will help the nonbank continue to grow at a brisk pace.
Mortgage firms that handle 5,000 or fewer loans will receive a significant exemption from servicing rules released today by the Consumer Financial Protection Bureau
Citigroup has joined the club of megabanks marking up the asset value of their mortgage servicing rights. Shares of Genworth spiked, and other mortgage news briefs.
What We’re Hearing Certain mortgage bankers are using a four-letter word to describe the trifecta of “final” regulations unveiled by the CFPB the past two weeks, and as you might guess that word isn’t “love.” The rules – servicing, qualified mortgages and loan originator compensation – will shape the industry for years to come... plus other mortgage industry happenings.
Although the Consumer Financial Protection Bureau has finalized its servicing regulations, it likely will take a close look at the transfer of mortgage servicing rights – a business that has been booming of late, with most of the activity tied to “legacy” product.
Nationstar Mortgage and KB Home are taking their strategic partnership to another level, setting up a new mortgage company that will provide mortgage banking services to new KB homebuyers across the U.S., the two firms announced.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS