National Mortgage News

Regulation

Maxine Waters stumped for relief from provisions in a law she co-authored.

Industry Victory on Flood Insurance Will Be Taxpayers' Loss

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.

Origination

Servicing

HECM Lenders Can Suspend Foreclosures for 60 Days

U.S. Court puts pressure on HUD to help surviving spouses stay in their homes.

Final Defendant in Foreclosure Rescue/Marijuana Scheme Sentenced

Perpetrators fraudulently acquired close to 40 homes, and used at least one to grow marijuana when it became vacant.

HUD’s Donovan Works to Rally Liberals Behind GSE Bill

The Obama administration is urging housing advocates to stand behind legislation to overhaul the housing finance market, ahead of a Senate Banking Committee vote scheduled for the end of April.

Small Lenders Fear GSE Reform Bill Could Endanger Them

As drafted, the Johnson-Crapo bill would allow big banks to originate, aggregate, and guarantee mortgages. Small lenders worry such vertically integrated companies could price them out of the business.

Legal Team Exodus at MERS Said to Prompt Review

Senate Banking Leaders May Delay Vote on GSE Reform

Immigrants Emerging as Unintended Victims of QM

FHA's Galante Offers Alternatives to Rolling Back MI Premiums

Rural Housing Service Eyes Tech Upgrade for Direct Endorsements

Freddie to Add Another Appraisal Check to Data Portal

Push for Transparency in MBS Raises Data Security Fears

From Our Blogs

Lenders Get a Break on Background Checks

The rock and hard place between which lenders have found themselves in regard to the use of hiring screens and disparate impact (in hiring) just got a bit softer.

Origination

"Please. Do no harm to the Federal Home Loan Bank System" is Jose Gonzalez's message to lawmakers working on GSE reform.

New York FHLB's New Chief Keeps 'Open Mind' About Membership

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.

People

Origination

"We certainly have the interest and the appetite" to make more acquisitions, says Jimmy Timmons.

Reg Costs Spur Lennar to Expand Retail Mortgage Business

The homebuilder's mortgage unit, which mostly serves new homebuyers, has acquired retail originator Pinnacle Mortgage as part of an effort to spread the mounting costs of compliance over more loans.

People

Origination

Feds Lack Options to Help HELOC Borrowers as Resets Loom

Efforts to help underwater borrowers with second liens have had little success, and the Treasury's authority to create new homeowner aid programs under the Troubled Asset Relief Program has expired.

Servicing

Origination

How LO-to-LO Referrals Become Problems

The Consumer Financial Protection Bureau prohibits actions aimed at circumventing loan officer compensation rules. One example was a lender who permitted teams of LOs to share commissions.

Origination

Risk Management