Mortgage originators are finding they have to make more disclosures than originally intended under new Real Estate Settlement Procedures Act regulations, adding more complexity to a process federal regulators thought they had already simplified. Compliance experts said that in...
Read More
Bankruptcy legislation currently under consideration in Congress would eliminate lender claims in bankruptcy if the loan was subject to rescission under the Truth in Lending Act, the Consumer Mortgage Coalition warned last week. In an analysis of H.R. 1106, “Helping...
Read More
The Department of Housing and Urban Development has warned housing counseling agencies not to split fees with real estate brokers or agents to pay for clients’ foreclosure counseling. HUD responded to reports that some housing counseling agencies have been taking a slice of the...
Read More
The National Association of Mortgage Brokers last week filed a lawsuit against the Federal Housing Finance Agency to strike down and stop the enforcement of a new appraisal code of conduct that bars mortgage brokers from the appraisal process. Filed in district court in...
Read More
House Democrats will meet this week to address concerns of centrist party members and attempt to move toward a final vote on legislation that would allow bankruptcy judges to modify underwater mortgages. Department of Housing and Urban Development Secretary Shaun Donovan...
Read More
Mortgage Guaranty Insurance Corp. and the Radian Group have pledged their support for Fannie Mae’s and Freddie Mac’s new streamlined refinance program, which, in many cases, will seek extension of existing private mortgage insurance for certain distressed loans. The program...
Read More
The Consumer Mortgage Coalition is seeking clarification from the Obama administration on a host of issues raised by the President’s Homeowner Affordability and Stability Plan. HASP is a presidential initiative to get the economy back on track by creating more jobs, reducing...
Read More
The different ways by which lenders treat a loan as delinquent and “modified” can skew survey results, highlighting the need to improve loan-level reporting, according to the Office of the Comptroller of the Currency. Responding to criticism that federal thrift and banking...
Read More
New York. NY Superintendent of Banks Richard Neiman called for a roll back in “overreaching federal preemption” so that states may have a stronger role in protecting consumers. At the same time, the Federal Reserve should set minimum national standards on consumer protection...
Read More
Federal Housing Finance Agency2009 Conforming Loan Limits. The FHFA has published the new conforming mortgage loan limits for 2009. The American Recovery and Reinvestment Act raised the maximum conforming loan limit, which affected 250...
Read More
For the ninth consecutive year, identity theft remained the top consumer complaint, according to the Federal Trade Commission’s “Consumer Sentinel Network Data Book for January-December 2008.” Of 1,223, 370 complaints received in 2008, 313,982 – or 26 percent – were related...
Read More
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.