Private mortgage insurers continued paying MI premiums to captive reinsurance entities sponsored by mortgage lenders in 2010, but the payment flow declined further in a business arrangement that is gradually winding down. A new Inside Mortgage Trends analysis of annual private MI regulatory filings reveals... [Includes one data chart and one graph]
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A lender can dramatically increase its chances of averting a time-consuming and potentially expensive mortgage repurchase request from the government-sponsored enterprises if it takes the trouble to learn from the buyback errors of others and not repeat them, according to Freddie Mac. In an advisory it published March 23, Freddie has identified...
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The most successful mortgage lending websites seem to have at least two critical components in common: they are intensely focused on the needs of the borrower, and they perpetually adapt their technologies to stay that way. “The Bank of America Home Loans website is designed to provide borrowers with...
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A handful of new research reports indicate that mortgage fraud continued to spread in 2010, but it varies significantly according to geographic factors and may be less of a problem when loans are underwritten manually. Manual underwriting, not sterling credit score standards, is the best deterrent against...
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The mortgage industry is still groping to adapt to the Federal Reserve’s controversial rule restricting loan originator compensation, which was poised to go into effect April 1 but held up temporarily late this week by a federal judge. After months of debate and numerous industry conferences on the subject, there are still many...
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Attending to the details throughout the loan production cycle is critical to improving quality and loan performance, according to officials at Titan Lenders Corp. “If you look at what you’re buying or servicing before taking it on, rather than after the fact, you won’t be surprised at the end when...
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