Risk Management Archive
Another important concern when it comes to the safety of borrowers' home loan information is physical location. There have been many physical loan files stolen, as well as computers.
A plea for the Federal Housing Administration official to finish clarifying the rights of spouses unnamed on Home Equity Conversion Mortgages before she leaves office.
Common sense underwriting, a regulatory system that abides by contract law, and borrowers who consider homeownership a privilege, not an entitlement, make Canada perfect for private -label residential mortgage-backed securities.
Allegations lenders failed to lend in certain geographic areas that are racially or ethnically diverse are mounting.
Not every distressed borrower can, will or should get a modification. But in cases where they make sense, mod decisions should be swift and significant.
The time has come for residential private-label mortgage-backed securities in Canada, but the market will look nothing like the United States'.
Foreign-born nationals with U.S. citizenship have a lot of positive attributes that make them attractive mortgage applicants. What's even better is that millions are still renters.
Such a system will not erase past violations, but it can help convince a regulator that a lender is invested in doing business the "right way."
Bank of America has taken a significant reputational hit as a result of its 2008 acquisition of Countrywide Financial. Could it have mitigated some of the damage with a different branding strategy?
An examination of the details in the B of A settlement shows many examples of risky behavior, including mortgage applications that were underwritten with "shadow" guidelines that allowed exceptions to approve almost any loan.
Many active-duty service members are unaware that they are eligible to postpone mortgage payments under the Servicemembers Civil Relief Act. A group of major financial services companies have pledged to improve communication about this option, according to the Financial Services Roundtable's Tim Pawlenty and John Dalton.
It is clear that the Consumer Finance Protection Bureau has made the mortgage industry a top priority and its supervised entities have had to fall in line with its expansive rules and regulations quickly.
A mortgage industry laden with government enticements has no choice but to honor a duty to serve its benefactor's affordable housing goals, claim the contributing authors of a new book.
All employees, including executives, need to be focused on compliance and customer complaints. The Consumer Financial Protection Bureau is specifically concerned when a company does not appropriately monitor third-party vendors.
Weather-wise, we're having a relatively placid season. But legal and regulatory developments are a different story when it comes to lender-placed insurance.