Most top lenders reported substantial increases in first-lien originations during the second quarter. But the rebound in production doesn't appear to have lifted mortgage banking income much. (Includes two data charts.)
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A proposal floated by federal regulators seeks to base capital requirements for mortgages held in portfolio at big banks on loan-to-value ratios. Banks expressed grave concerns about the proposal.
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For years, banks have been dominant players in the non-agency jumbo space. One strategy: Originate a loan, place it in portfolio and earn a spread. But thanks to rising rates and increased regulatory scrutiny, the economics aren’t as attractive.
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A New Jersey jury this week agreed with LoanCare’s counterclaim that Freedom Mortgage fraudulently transferred funds when terminating a subservicing agreement.
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The MBA said the proposal lacks a provision for a cost-benefit analysis and dispenses with assessing the likelihood that a firm would experience material financial distress in making the designation.
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The Urban Institute wants Fannie and Freddie to view FHA as a partner and share their data and underwriting models to assist in FHA’s mission.
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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