Mortgage origination activity dropped sharply in early 2011 and momentum is pointing toward further declines as the housing market limps into a new buying season. Mortgage lenders generated an estimated $325.0 billion in single-family originations during the first three months of the year, a decline of... [Includes two data charts]
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One of the emerging compliance priorities for mortgage lenders will be to synchronize as much as possible their adoption of separate rules for “qualified mortgages” and “qualified residential mortgages” developed by federal regulators following the Dodd-Frank Wall Street Reform and Consumer Protection Act. Adding to the challenge is...
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Short sales, the bane of the home-purchase market for the past several years, have suddenly emerged as the fastest growing sector of the housing market in early 2011. According to new numbers released this week by the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, short sales accounted for...
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The interagency review of servicers’ foreclosure policies and practices found that although some process flaws were discovered, the foreclosure proceedings weren’t improper and didn’t cause undue borrower injury, despite the consent decrees’ more sinister portrayal of the findings, according to...
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Industry groups continue to emphasize that servicer accountability and legitimate help for borrowers are key to addressing loan modification concerns that continue to plague the market. The crux of concern with modification programs is conflicting fiduciary duties, including financial incentives for banks not to...
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New issuance of Ginnie Mae single-family mortgage securities declined 17.9 percent from the fourth quarter of 2010 to the first quarter of 2011, according to the Inside Mortgage Finance MBS Database. It was the slowest three-month period in Ginnie securitization since the fourth quarter of 2008. Wells Fargo ranked as... [Includes one data chart]
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