The CFPB and other regulators are showing an increasing appetite for big data. The HMDA database may be the biggest in the mortgage business and a preview of the upcoming dataset may give lenders a chance to stay one step ahead of the feds.
With mounting indicators clearly showing that the so-called housing recovery was just an illusion, and many housing industry pundits who formerly touted the validity of said recovery now recanting their views, there should be no doubt that we are headed for another/further housing downturn.
Banking presents opportunities for non-depository mortgage companies seeking to boost competitiveness and expand market share.
While use of facsimile has decreased in the workplace for general business practices over the years, fax machines still remain the default delivery method for sending and receiving mortgage payoff statements.
The GSEs make mortgages? Banks don't? For an economics professor who has made the causes of the housing collapse a central campaign issue, David Brat sure doesn't sweat the details.
Previously there were a few larger institutions assuming the majority of the risk in the mortgage servicing market, but now this risk is more evenly distributed across smaller institutions.
Risks and headwinds abound, but if smaller investors opt to pool their properties into multi-borrower securitizations, this market could materially grow. Lingering economic factors suggest large players will remain involved.
The mortgage life support provided by the federal government since the crash is ebbing. It will be interesting to see if the industry can breathe on its own now.
There will be enough grist for the NPL mill for at least three more years, industry insiders say.
Proposed reforms for Freddie Mac and Fannie Mae seem to be bogged down in the House and Senate. It might be time for legislators to start thinking about different solutions.
What might work better would be clarifying guidance on mortgage insurance premium rules, the meaning of bona fide discount points, and the rules for affiliate compensation.
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.
Lenders and Realtors are hailing a new law that delays flood insurance premium increases, but unless the government takes actuarially prudent measures, rising sea levels could cost taxpayers dearly.
Jose Gonzalez, the first Hispanic president of a Federal Home Loan Bank, envisions eventually allowing new categories of lenders like REITs to join the system, but wants membership to stay as it is for now.
The lender can experience problems selling a loan that loses qualified mortgage rule's protection. The lender also could be stuck in a vulnerable position if that loan ultimately defaults.