As Tim Rood of The Collingwood Group noted: An investor can buy a mortgage at 65 cents on the dollar, “notify the borrower they are eligible for a note mod down to 80 cents on the dollar and voila!”
Exclusive data compiled by Inside Mortgage Finance show the FHA’s share of the primary MI market was 39.9 percent in the first quarter of 2016, compared to 33.5 percent in the first quarter of last year.
Outreach and lender-education efforts by industry groups, such as the National Association of Realtors and the National Association of Home Builders, have boosted refis as well...
Roughly $3.9 billion of mortgages with a USDA guarantee were securitized during the first three months of 2016, with the top five issuers accounting for almost 52 percent of that amount…
The Consumer Financial Protection Bureau this week issued an interim final rule showing an 8.5 percent increase in the maximum civil penalties it can obtain for various consumer protection violations…
The settlement agreement stemmed from a complaint filed by the Department of Housing and Urban Development against First Citizens Bank and Trust Co. in 2011 after an analysis of 2010 Home Mortgage Disclosure Act data.