National Mortgage News|Mortgage News, Analysis, Trends

PAGE-TURNER? TCF's sale last month of more than $400 million of mortgages was the "last chapter from the residential home crisis as it relates to TCF," CEO William Cooper said. But others were skeptical that the sale was its final credit cleanup.

TCF Faces 'Tough' Writedowns to Sell Off Crisis-Era Mortgages

TCF Financial took $44 million in charges to rid itself of mortgages made before the housing collapse. A distressed-asset investor purchased more than $400 million in loans from the company, and another pool of bad mortgages may be marked for sale soon.

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Hardware Failure Causes Outage for ReverseVision

ReverseVision, which operates the largest technology platform in the reverse mortgage industry, suffered an outage with its RV Express system because of a hardware failure. It's the second technology disruption for the San Diego-based vendor.

FHFA Setting Capital Rules for Nonbank Mortgage Firms

The Federal Housing Finance Agency will require nonbank mortgage firms to meet minimum liquidity and net worth standards to curb risks to taxpayers from the rapidly expanding industry.

Legislative Experts Question Legality of Treasury's GSE Moves

WASHINGTON — The Treasury Department has exceeded its authority by keeping Fannie Mae and Freddie Mac in conservatorship so long and taking all their profits, two legislative experts said Thursday.

Housing Market Stability Improved in November: Freddie

Stability is gradually returning to the housing market following the foreclosure crisis, according to Freddie Mac.

Arbor Launches Online Loan Processing Technology

Arbor Commercial Mortgage has launched a proprietary online loan processing technology platform.

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Borrower needs a hard money loan to pay off taxes, tax lien and debt

OT: Viner wants Seattle to destroy New England at the Super Bowl

Looking for a lender willing to do stated income loans in Florida

Mortgage bank seeks new outlet to sell loans to

"Responsible lending by community banks and credit unions did not cause the financial crisis, and our mortgage rules reflect the fact that small institutions play a vital role in many communities," said CFPB Director Richard Cordray.

Cheat Sheet: How CFPB's Mortgage Changes Will Help Small Lenders

In yet another revision of its mortgage rules, the Consumer Financial Protection Bureau proposed making it easier for small and rural lenders to make "qualified mortgages." Industry representatives said the changes are poised to make a big difference.

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Regulation

From Our Blogs

Forbearance Confusion Has Gone on Too Long

Regulatory attention is supposed to be laser-focused on servicers right now, especially when it comes to how consistent they are in applying workouts. So regulators should be looking closely at whether loans have forbearance.

Reverse Mortgage Spouses Get Another Break, But Strings Attached

The government has added further protections to reverse mortgage borrowers' spouses who are not named in the loan agreement, but placed conditions under which they are ineligible for older protections.

Mortgage Insurer Positions Unit for Private MBS Comeback

Arch Capital Group is repurposing a subsidiary to insure mortgages that are headed for private securitizations. Insuring such loans separately from the unit that works with Fannie and Freddie lets Arch offer more favorable terms to lenders.

Four Takeaways from Watt's Grueling Return to Capitol Hill

At a hearing Tuesday, GOP lawmakers hammered FHFA Director Mel Watt for four hours over his recent decisions to allow Fannie Mae and Freddie Mac to buy loans with lower downpayments and provide money to two affordable housing trust funds.