Risk Management Archive
Ocwen Financial raised less than underwriters expected by selling bonds tied to fees from managing government-backed loans as the mortgage servicers shares fell to the lowest since December 2012.
The Mortgage Bankers Association is trying "to get the regulators to just be aware of where one rule conflicts with another," says the trade group's president, David Stevens.
Lower volumes and increased regulation are leading more lenders to consider outsourcing. But the savings and compliance improvements must outweigh increased liability for contractors and a rise in offshore prices.
Once written off as an endangered species, nonbank home lenders are making a comeback in the third-party origination businesses abandoned by banks since the financial crisis.
Here is a list of 18 items loan officers should consider when talking with their current or future employers, including who owns the database.
The rapid growth and increasing regulatory scrutiny of nonbank mortgage servicers could "severely" affect the whole industry, Mortgage Bankers Association Chairman-Elect Bill Cosgrove says.
The volume of complaints lodged by distressed borrowers to four of the largest U.S. banks has stabilized, the monitor for the national mortgage settlement says.
Steven Antonakes, the CFPB's deputy director, gave a speech which indicated the agency has shifted to a hard-line stance regarding compliance with a new mortgage servicing rule that went into effect last month. 'Business as usual has ended in the mortgage servicing industry,' he said.
The largest U.S. bank's apartment loan business is mushrooming, aided by Fannie Mae and Freddie Mac retrenching. Now JPMorgan is refocusing on a market where, surprisingly, it lags: New York.
The company, started in 2010 after the mortgage crisis, wrote $4.5 billion of new insurance in the fourth quarter, only about $400 million less than market veteran Genworth.
Tom Barracks Colony Capital is teaming with two other single-family rental-home landlords to offer as much as $1 billion in loans to similar operators this year, said three people with knowledge of the agreement.
Platinum Data Solutions has completed an initial round of accuracy testing on the 18 automated valuation models that it resells to lenders and servicers.
The Community Home Lenders Association is concerned the high fees will be more of a drag on home purchase volume as interest rates rise.
Appraisal management company and property asset manager LRES restructured its REO department by assigning separate teams of employees to distinct tasks across the property disposition lifecycle.
Prospect Mortgage entered a $3.1 million settlement with California regulators for overcharging mortgage borrowers per diem interest over a seven-year period.