Some nonbank issuers of mortgage-backed securities are wrestling with capital pressures, and Ginnie Mae has cooperated with their efforts to sell chunks of mortgage-servicing-revenue streams to investors.
Bank of America is asking the Justices to overturn lower-court rulings that mortgage loans with a secondary lien on a debtor's asset can be "stripped down" to zero when the collateral is completely underwater. The decision could affect an even wider range of second liens.
A Freddie Mac and Fannie Mae mortgage servicing rights portfolio with approximately $10 billion of unpaid principal balance is now on the market.
More Americans than forecast signed contracts to purchase previously owned homes in February, indicating a pickup in the housing market ahead of the spring selling season.
From Our Blogs
»Servicers Should Engage Mediators in Distressed Borrower Outreach
»Pre-Approvals, Part Two: Yes, They Will Soon Be Worthless
»Short Memories Often Have Long-Term Consequences
»Prune HMDA Reporting Requirements for Small Banks
»When March Madness, Mobile and Mortgages Collide
»Clarifying the Department of Labor's Loan Officer Ruling
»The Wrong Assumptions About the 'Credit Invisibles'
»Dangers of Housing Policy 'Hidden in Plain Sight' No More
»Time to Reverse Decision to Put HECMs in the FHA MMI Fund
»The End of the Pre-Approval
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