Remember the 4.4 million delinquent mortgagors who were done wrong by the nation’s mega-servicers and lost their homes to foreclosure? Remember how the Comptroller of the Currency launched a program in 2011 to let these mortgagors appeal? Well, apparently...
A $14 billion package of high-touch mortgage servicing rights owned by Bank of America has failed to trade, according to servicing advisors familiar with the transaction.
Carrington Mortgage is contemplating the origination of non-agency mortgages to serve borrowers whose credit has been damaged during the Great Recession, company officials told Inside Mortgage Finance
Here’s a pop quiz: Which top-ranked lender saw its residential fundings fall by 58 percent during the first nine months of the year while the rest of the competition soared? Answer: Bank of America.
Forget (for now) the story about Bank of America scuttling the sale of $14 billion of high-touch mortgage servicing rights. Inside Mortgage Finance is hearing that over the past several weeks the megabank was looking to unload upwards of $300 billion in MSRs, or at least talking about it to select buyers. BofA, as we pointed out, doesn’t talk about its servicing sales, though it does acknowledge them (sometimes) in its earnings calls with analysts.…
Bank of America Monday morning said it has agreed to sell $306 billion of legacy, bulk mortgage servicing rights to Nationstar Mortgage and Walter Investment Management Corp. for an undisclosed sum. And sources tell Inside Mortgage Finance that more MSR sales are in the works at the bank.
In an email message to his members on Friday, Mortgage Bankers Association president David Stevens noted that the fiscal cliff deal “does not substantially limit the mortgage interest deduction” but “it does phase out itemized deductions for certain higher income households.”
Fannie Mae is working on building an in-house unit to value mortgage servicing rights, according to industry officials who’ve been briefed on the GSE's plans.
The Consumer Financial Protection Bureau is expected to unveil its long-anticipated 'Qualified Mortgage’ rule this evening to certain parties with an official release coming Thursday morning, industry officials told Inside Mortgage Finance.