Bank of America Corp. is nearing a settlement with the Justice Department after raising its proposed offer to resolve probes into its sale of mortgage-backed bonds in the run-up to the financial crisis.
Delinquency rates for commercial mortgage-backed securities improved slightly in July, according to a report released Wednesday by Trepp.
Bank of America Corp.'s Countrywide unit was ordered to pay $1.3 billion in penalties for defective mortgage loans sold to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, a little more than half of what the federal government had requested.
The legislation, sponsored by Rep. Blaine Luetkemeyer, R-Mo., would delay implementation of a provision of Basel III capital rules that establishes higher requirements on mortgage servicing rights.
Varde Partners completed the issuance of $290 million in notes secured primarily by real estate loans and assets.
From Our Blogs
»They're Not All Bad Guys: Mortgage Bankers Seeking Bank Charters
»Passing the CFPB Servicing File Test
»The Payoff from Automating Payoffs
»Dave Brat Fudges the 'Blame Fannie and Freddie' Narrative
»Have Delinquencies Really Declined Or Just Relocated?
»Why the Single-Family Rental Securitization Trend May Last
»Foreclosure Fast-Tracking Gains Momentum
»Get a Handle on Mortgage Servicing Challenges
- An Amazon for Mortgages: Why Altisource Is Buying Mortgage Builder
- With Some Lenders Hurting, Could Double-Pledging Fraud Resurface?
- Banks' Pursuit of Top-Tier Borrowers Drives Jumbo Rates Down
- Big Banks' Mortgage Volume Soars, But Profits May Still Be Grounded
- Nonbank Mortgage Lenders Livid Over FHFA Watchdog Report
- Property Reports Made EasyNationwide Title Clearing, Inc. Revamps Website, Online Ordering Available
- Old Republic Credit Services Announces New Product That Brings Consumer Credit Verification To A New Level Borrower Verification Report
- IDS Sees Significant Mortgage Document E-sign Adoption Among Customers in 2013
- Nationwide Title Clearing (NTC) Comments on Newly Enacted Mortgage Rules, Expects Market-Driven Effect on Company Practices
- Interthinx: Jumbo Loans Present Much Higher Fraud Risk in Recent Quarter