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.
Independent mortgage banks and mortgage subsidiaries of banks saw their production profits rise in the fourth quarter compared to a year earlier, according to the Mortgage Bankers Association.
Home prices in 20 U.S. cities appreciated at a faster pace in the year ended in January, indicating the residential real estate market continues to firm.
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.
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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