Federal regulators from a handful of different agencies will craft rules that will significantly affect the market for non-conforming mortgages, a once thriving segment that has been driven to the margins of the industry by rigid underwriting and the expansion of government agency programs...
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Mortgage applicants generally met with more success in securing financing last year despite stiff underwriting standards, soft economic conditions and a challenging housing market, according to recently released 2009 Home Mortgage Disclosure Act data... [includes one chart and one graph]
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Just because mortgage underwriting standards have toughened significantly over the last few years doesn’t mean loan data quality is any less important. In fact, data quality may even be more vital now than during the low-doc, no-doc boom years as perpetrators of fraud now have greater motivation to falsify the data provided in the application process for more fully documented loans...
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A plan that would allow the Federal Reserve to speed up the unwinding of its massive mortgage securities portfolio could provide a once-in-a-lifetime opportunity for mortgage companies to grab the most valuable servicing assets ever seen in the industry...
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The outlook for the private mortgage industry should continue to improve as the companies win back some market share from the FHA and make further progress on the default front, according to analysts at Keefe, Bruyette & Woods...
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New loan delivery data requirements are in the works for Fannie Mae and Freddie Mac lenders, as the government-sponsored enterprises near implementation of their new Uniform Loan Delivery Dataset. The basis of the ULDD will be the transition to the MISMO Version 3.0 Reference Model file...
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The FHA’s new reverse mortgage option is designed to make it possible for borrowers to arrange a line of credit at very little cost, but reaction from the market has been mixed. The FHA launched a new Home Equity Conversion Mortgage option dubbed HECM Saver on Oct. 4...
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Scratch-and-dent specialist Franklin Credit Management Corp. regained its footing last week after its lead creditor agreed to allow the company to operate its business free of its stock pledges and restrictive covenants under a 2008 debt restructuring and repayment agreement. The creditor, Huntington National Bank, agreed to...
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