National Mortgage News

Regulation

The carve-out helps provide lenders and investors with protection when manufacturing loans.

QM and Ability to Repay: What's the Difference?

The qualified mortgage rule is a special carve-out to the ability to repay requirement.

REO

Mel Watt Has Backed Broader Principal Cut Eligibility

As a North Carolina congressman, Mel Watt has tried to arm struggling homeowners with a legal “sledgehammer” against lenders and expand the ranks of people eligible to cut their mortgage principal.

JPMorgan Must Face Dexia's Mortgage Suit, Judge Rules

A federal judge has revived a lawsuit that charges JPMorgan Chase with misrepresenting the quality of loans that backed securities sold to a Belgian bank.

Mortgage Relief Surpassing Estimates, Iowa AG says

The five banks that are part of the national mortgage settlement have now provided more than $50 billion in benefits to consumers.

Banks Surpass Mortgage Settlement Relief Expectations

The consumer relief data sent to the mortgage settlement monitor show that within the first year since servicers signed the agreement they have distributed $50.63 billion in direct relief to customers.

Mel Watt Urges CFPB to Review Affiliated Title Fees

Texas Last State to Appropriate Mortgage Settlement Funds

Indecomm Global Services Acquires Mortgage U

Fannie Mae, Freddie Mac Exempt from Michigan Transfer Tax

N.Y. AG Revising Foreclosure Settlement Complaint Against B of A, Wells

CFPB Goes After Homebuilder for Illegal Referrals

GOP Senator Questions CFPB’s Right to Collect Consumer Data

From Our Blogs

Adapting Process Serving to the Changing Times

During the last decade, process serving has become more of a science than a paper delivery service.

Risk Management

Servicing

Compliance Automation Strategy Still Can Help Differentiate Volumes

Laggards in adopting compliance technology can take a long time to get up to speed.

Origination

Technology

The abrupt slowdown came in response to the OCC's April release of minimum standards for foreclosure sales. Image: Fotolia.

Wells, Citi Halt Most Foreclosure Sales Amid OCC Review

Wells Fargo and Citigroup have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency.

REO

Risk Management

Brian Fitzpatrick says manufacturing quality is key and should be upfront. Image: Arnold Adler.

GSE Reform Is Closer, But Still a Ways Away

The combination of government-sponsored enterprise platforms remains more a concept than a reality.

Document Systems Inc. CEO Dominic Iannitti

New Disclosure Requirement Opens Door to Improve Closing Process

New compliance requirements don’t typically inspire the most innovative technology enhancements in the mortgage industry. But the upcoming overhaul of borrower disclosure forms has created an opportunity to re-engineer the way lenders and title companies execute mortgage closings, according to Document Systems Inc. CEO Dominic Iannitti.

Technology

Origination

Eric Schneiderman may face an opponent more intractable than the average corporate lawyer; it's the terms of the original settlement themselves. Image: Bloomberg News.

New York AG Faces Tough Task in Suing Servicers

New York Attorney General Eric Schneiderman announced on May 7 plans to sue Bank of America and Wells Fargo for allegedly violating their obligations under the national mortgage servicing settlement.

Servicing

Risk Management