Fannie Mae posted significantly lower loan repurchase numbers than Freddie Mac for the fourth quarter, at the same time withdrawing a relatively larger share of buyback claims. (Includes two data charts.)
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Wells Fargo and JPMorgan Chase, the top banks in mortgage banking income, saw significant quarter-to-quarter volatility in 2019. Flagstar pulled itself out of a rut in the fourth quarter but still posted a hefty net mortgage banking loss for the year. (Includes data chart.)
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Top-ranked servicer Ocwen Financial is trying to put its problems in the rear view mirror. But a new problem has arrived on its doorstep: Ultra low rates (again), courtesy of the coronavirus.
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Mr. Cooper, the nation’s third largest residential servicer, reported strong earnings for the fourth quarter, aided by deferred tax assets and a mark-to-market gain.
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Officials from the Federal Reserve have warned about redlining and steering risks from digital targeted advertising, though it may be the best way for lenders to market their products.
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Adoption of eNotes has been limited, though activity surged in 2019 led by Quicken Loans and warehouse lenders. There are benefits for lenders willing to deal with the problems that accompany electronic processes.
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CoreLogic warns of lingering troubling signs of excessively appraised Home Equity Conversion Mortgage loans despite policy changes made by HUD to make the product safer.
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