National Mortgage News

Regulation

"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

SunTrust Ramping Up Loan Sales to Meet Liquidity Standards

The Atlanta bank's CEO sounds upbeat on the mortgage and housing markets. Unlike JPMorgan Chase, SunTrust appears to be committed to the FHA lending business following a large government settlement.

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

BB&T Corp. said the Department of Housing and Urban Development plans to audit the lender over sales of government-backed loans.

CFPB Tries to Tame Monster It Helped Create: Mini-Correspondents

The Consumer Financial Protection Bureau worries that mini-correspondent lenders are circumventing its qualified mortgage rule. But a large number of mortgage brokers converted to mini-correspondents because the rule made it harder to operate as a broker.

Senate Passes TRIA Extension, as House Stands Divided

The Senate overwhelmingly passed a bill Thursday to extend the Terrorism Risk Insurance Act, as divisions over a competing measure continue to stymie House leaders.

Black Knight Woos B of A to Get Back on Vendor's Servicing System

Nonbank Loan Sales to GSEs Skyrocket, and So Do Risks: Watchdog

CFPB Guidance Has Mini-Correspondents Rethinking Business Model

Ocwen Creates Community Council Following Advocates' Criticisms

Double-Whammy Coming When HELOCs, Loan Mods Reset in 2015

Three Takeaways from Citi's $7B Mortgage Settlement

Citigroup Reaches $7 Billion Mortgage-Bond Settlement

From Our Blogs

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

THE MORE, THE MERRIER: "To the extent there is another entrant providing liquidity, we would expect better pricing," says Donavon Ternes, at Provident Savings Bank in Riverside, Calif.

Small Banks May Soon Get a Leg Up in Mortgages from Ginnie, FHLBs

The Federal Home Loan Bank of Chicago is launching a pilot program soon to buy home loans and issue Ginnie Mae securities. The program could allow community banks and credit unions to stay in the mortgage business.

Servicing

Origination