Redwood Trust and the Federal Home Loan Bank of Chicago are revving up a program to buy and securitize jumbo loans and looking for signs that other FHLBs will participate.
Banks with large mortgage operations are struggling with lower profit margins, detrimental fair-value accounting rules and new regulations that add cost. The market is discounting their stocks as a result, but many of these banks say the blanket assessment is unfair.
Moody's Investors Service downgraded two servicer ratings for Ocwen Loan Servicing, reflecting additional scrutiny by regulators and concerns about the nonbank mortgage servicer's ability to ensure timely payments to bondholders.
The Justice Department's recent $16.6 billion deal with Bank of America over crisis-era mortgage fraud has raised fresh questions over a perceived lack of transparency in the settlement process.
Sen. Richard Shelby isn't new to Banking Committee leadership, but he would face a crucial ticking clock if he returns as chairman of the panel next year.
Ginnie Mae President Ted Tozer took issue with a government watchdog report that criticized both his agency and the government-sponsored enterprises for failing to catch the massive fraud at Taylor, Bean & Whitaker.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.