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As servicers began modifying staggering numbers of mortgages, they took control and implemented stringent underwriting practices that will serve as a model for all mortgage underwriting in the future.
The CFPB is expected to clarify a concern about the points and fees test for qualified mortgage rules soon, according to Richard Andreano, an attorney at Ballard Spahr.
The Consumer Financial Protection Bureau is expected to change how fees are defined for a key test to determine if a loan is a "qualified mortgage," according to observers.
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The popular belief may be that manufacturing risk is no longer a concern with the current mortgage manufacturing process, which is assumed to generate substantially less manufacturing risk. Is the industry really seeing a reduction in risk?  READ MORE »
The Senate GSE reform bill may bloat the bureaucracy, encourage risky behavior and expose taxpayers to losses, without sufficient support for affordable housing. That could still be better than nothing.
Mortgage bondholders have long complained to regulators that the national mortgage settlement gave large bank servicers credit for principal reductions and loan modifications they did not pay for themselves.
The recent housing recovery has been the saving grace for some 2005-2007 subprime mortgage bonds, but in others, delays in getting distressed properties to market have offset home price gains.
If it wasn't a malicious attack, what else could have overwhelmed the mortgage loan origination software vendor's servers at a time when originations are in the doldrums?
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