Retail mortgage originations accounted for just over half of the residential home loans originated during 2010, according to a new market analysis and ranking by Inside Mortgage Finance. The 50.4 percent market share for retail production was the highest since Inside Mortgage Finance began tracking production back in 1994 and the first time the channel has claimed...[Includes seven data charts]
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Hopes for a rebounding housing market helping to prop up a sagging residential mortgage business in 2011 appear to be quickly fading with the year less than two months old. The problem is continuing bad news about the current state of the home purchase market. Perhaps the biggest piece of bad news for the mortgage lending industry involves...
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The Federal Housing Finance Agency revealed today that Fannie Mae and Freddie Mac will be working with the agency in setting up a new working group to align their current servicing standards and set up appropriate incentives to encourage and support servicer contact with borrowers in the early stages of delinquency. The goal is to announce...
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Federal regulators are expected to penalize some of the industry’s biggest mortgage servicers for “critical deficiencies” and other “shortcomings” discovered during an investigation of their foreclosure processes. And the feds are also “drawing on lessons from these examinations” to develop...
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Mortgage delinquency rates declined across the board in the fourth quarter of 2010, but the foreclosure inventory edged higher as servicers continued to work through documentation issues and loss mitigation efforts.The Inside Mortgage Finance Large Servicer Delinquency Index showed...[Includes two data charts]
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The Republican-led House of Representatives last week voted to reduce FY 2011 spending for the Bureau of Consumer Financial Protection despite calls by consumer advocates and the Obama administration not to allow politics to interfere with the new agency’s mission to safeguard consumers. The controversial provision is...
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The implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act will be the major focus of the Senate Committee on Banking, Housing and Urban Affairs as more of the regulatory process takes center stage in 2011. Overseeing the implementation of the new finance reform law is...
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Industry experts discussed the effect of both government and proprietary loan modification programs at a House Financial Services Subcommittee on Insurance, Housing and Community Opportunity hearing held last week, highlighting how foreclosure alternative efforts have evolved...
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Fannie Mae this week announced a new servicer evaluation program based on how well the lender helps borrowers in distress. The Servicer Total Achievement and Awards program will set forth clear expectations and specific measures designed to make...
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