National Mortgage News

Regulation

Pay Attention to the HMDA Proposals

The Consumer Financial Protection Bureau requests data that if used too zealously could cause a massive restriction in the market and a reduction in the type and amount of lenders.

Origination

Risk Management

An Amazon for Mortgages: Why Altisource Is Buying Mortgage Builder

Acquiring the technology vendor would help Altisource build a marketplace for ancillary mortgage services and reduce the company's reliance on its former parent and top client, Ocwen.

Fannie Lender Survey Shows Market Optimism, But Concerns Remain

Mortgage executives are optimistic about the direction of the housing industry, but still think it is difficult for consumers to obtain real estate financing.

Lenders Fear CFPB Disclosure Plan Goes Too Far

Although the proposal to add more Home Mortgage Disclosure Act requirements was required by the Dodd-Frank Act, those in the lending industry said they were taken aback by the amount of additional information the CFPB is seeking, arguing it goes way beyond the regulatory reform law.

CFPB Provides Details on Proposed HMDA Reporting Changes

The Consumer Financial Protection Bureau issued a proposal Thursday that would require lenders to disclose more information about mortgages, including the age and credit score of homebuyers, the property value and interest rate details.

JPMorgan Seen Facing Bigger Fight Over Mortgage Investor Claims

Dozens of Mortgage Relief Firms Cited by CFPB, States Over Mod Scams

How VA Underwriting Tool Could Free Lenders from QM's Constraints

FHFA Can't Stop Hedge Fund Probe of GSE Dividend Plan, Judge Says

Calif. Law Covers Lapse in Mortgage Forgiveness Tax Protection

SunTrust Ramping Up Loan Sales to Meet Liquidity Standards

BB&T Says HUD to Audit Bank Over Its Government-Backed Loans

From Our Blogs

ON HER RADAR: "The institutionalization of the single-family rental market…merits close monitoring,” says Rep. Maxine Waters, ranking Democrat on the House Financial Services Committee.

Housing Groups Criticize Single-Family Rental Investment Firms

Advocates blame the securitization-financed, institutional-scale landlords for astronomical rents and poor maintenance and call for Congressional hearings and government oversight.

Servicing

Risk Management

"We are jumping through hoops every day to comply with regulations," said Mike McHugh, the president and CEO of Continental Home Loans, in Melville, N.Y.

Nonbank Mortgage Lenders Livid Over FHFA Watchdog Report

Independent mortgage lenders are concerned that regulators will use the report as an excuse to raise minimum net worth requirements for smaller lenders.

Servicing

Risk Management

GONE AWRY: "The mini-correspondent structure…is probably not working the way it is supposed to be," says Jason Madiedo.

CFPB Guidance Has Mini-Correspondents Rethinking Business Model

The Consumer Financial Protection Bureau's guidance on the growing mortgage mini-correspondent business has scared some originators to the point that they are considering converting to branches of larger retail lenders.

Risk Management

Origination

"Whenever you see 'consumer relief,' it is usually investor money," says Vincent Fiorillo, global sales manager at DoubleLine Capital LP in Los Angeles.

Government MBS Settlements Leave Private Bondholders Unsettled

These investors complain they get little say or direct recompense in government settlements with big banks over misrepresentations of mortgage securities like the Department of Justice's $7 billion deal with Citigroup.

Servicing

Risk Management

CFPB Complaint Plan Invites Abuses, Assures Higher Costs

Under the Consumer Financial Protection Bureau plan, lenders would need to respond to virtually every public complaint — even those by consumers, disgruntled employees, and competitors that abuse this forum.

Origination

Risk Management