Forcing lenders to fund upgrades for HUD through the proposed administrative fee would set a dangerous precedent, essentially taxing the very borrowers they are intending to serve.
"To the extent there is new information or we're hearing directly from vendors that folks aren't going to be ready . . . we should continue to talk about that," CFPB Deputy Director Steven Antonakes said about the Aug. 1 mortgage disclosure deadline.
The Consumer Financial Protection Bureau may delay the Aug. 1 implementation deadline for new mortgage disclosure forms if vendors aren't ready, said CFPB Deputy Director Steven Antonakes.
A NEW SUBPRIME? Angel Oak's subprime loans share in common that something has
If you thought the subprime mortgage-backed security was an artifact of the past, think again. Nomura Holdings and Angel Oak Capital have a deal that may help revive the part of the market that went bust during the crisis. Their success could encourage more banks to dip their toes back into riskier mortgages.
From interest rate movements to new disclosures and vendor management challenges, the recent Regional Conference of Mortgage Bankers Associations touched on myriad hot-button topics the mortgage industry faces this year.
Origination News and National Mortgage News are pleased to begin accepting submissions for the 2015 Top Producers, an annual ranking of mortgage loan officer and broker origination volume.
Recent White House overtures to promote the mortgage industry have come too late in Obama's presidency to spark more comprehensive reforms, said former Ginnie Mae and HUD official Robert Couch.
Negative attitudes in Washington toward the mortgage industry are starting to thaw, yet devising Fannie Mae and Freddie Mac's exit from conservatorship or charting the future of housing finance reform still will be tough.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.