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Inside Mortgage Finance

March 22, 2018

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Ginnie, Freddie Drive Growth in Agency Servicing During 2017, Nonbank Footprint Still Expanding

The mortgage servicing business racked up its third consecutive year of steady growth in 2017, following seven years of erosion, according to a new Inside Mortgage Finance analysis and ranking. Read More

Many ARM Originations Still Linked to LIBOR Even though Benchmark Might End After 2021

The potential end of publication of the London Inter-Bank Offered Rate hasn’t yet prompted a significant shift by lenders. Many new originations of adjustable-rate mortgages continue to be linked to LIBOR as industry participants determine how to respond to the potential demise of the index. Read More

DC Circuit Court Ruling Narrows FCC’s 2015 Order Restricting Use of Cell Phones to Contact Consumers

A Washington, DC, appellate court recently overturned a Federal Communications Commission ruling that restricted the use of “autodialers,” including cell phones, to communicate with consumers. Read More

House Regulatory Relief Goals Could Stall Bipartisan Package Approved by the Senate

The Senate bill to roll back various parts of the Dodd-Frank Act has been stalled in the House, where leading Republicans have asked for additional provisions that would further relax regulations. Read More

Court Finds Servicers are Subject to California Escrow Rules, More Preemption Battles Likely

An appeals court ruling this month against Bank of America regarding compliance with a state law on escrow accounts has broad implications for banks that rely on federal preemption of state laws, according to industry attorneys. Read More

HUD Chief Says About $500 Million Would be Needed to Shift Legacy IT System to the Cloud

Housing and Urban Development Secretary Ben Carson told Congress it would cost approximately $500 million upfront to convert FHA’s archaic information technology systems to a modern technology platform. Read More

Study: Borrower Counseling Improves Mortgage Experience, Spurring Buyers to be More Vigilant

Consumers who take part in homebuyer education and counseling classes are more satisfied with the mortgage process, according to a joint report by the Consumer Financial Protection Bureau and Federal Housing Finance Agency. The classes also help spur homebuyers to better examine mortgage loan offers. Read More

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