Most mortgage lenders reported strong loan production numbers – in some cases company records – for the third quarter of 2010, setting the stage for a strong end-of-year finish. According to a new Inside Mortgage Finance ranking and analysis, loan production jumped...[Includes two data charts]
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Mortgage bankers gathered in Atlanta this week for the industry’s annual convention were upbeat as long as they didn’t think too hard about the avalanche of new regulations and likelihood of a huge decline in new business that lies ahead in 2011. Many participants at the Mortgage Bankers Association annual convention expressed...
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Although there are some signs that the flood of repurchase demands and mortgage insurance rescissions has been easing up, mortgage lenders remain concerned that the strain of dealing with these requests is as big a problem as the actual losses they have to take. “Repurchases have become...
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Federal regulators and the mortgage industry didn’t pay close enough attention to signs that the servicing business was headed for trouble as it tried to deal with the massive loan defaults and foreclosures stemming from the collapse of the housing market, said...
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Despite certain safe harbors provided under the interim final rule on appraisal independence issued last week by the Federal Reserve Board, some lenders are concerned that they will still be exposed to liabilities and consumers will ultimately pay higher appraisal costs. Industry representatives and...
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The Federal Housing Finance Agency last week released some projections of the possible costs of the Treasury Department’s rescue of Fannie Mae and Freddie Mac, bringing renewed attention to the dividends the two companies must pay the government for that support. But it’s unlikely to have...
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The Obama administration’s Home Affordable Modification Program continued to grind along through the third quarter of 2010, as the pace of new permanent modifications and trial mod offers fell from the previous quarter. Mortgage servicers offered...[Includes one data chart]
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