Cities and federal agencies have new requirements for maintaining foreclosed assets, so property preservation and servicing executives now spend lots of time poring over local codes.
If the switch is not done right, originators are setting themselves up for trouble.
Plans to wind down the agencies may halt now that they are profitable and Congress is working on reforms.
A continuing reduction in bank-owned foreclosure inventories alongside third-quarter existing home inventory increases suggests inventory bottomed early in 2013.
The Department of Housing and Urban Development is a rare government agency that funds private enforcement of its own regulations. It does so via its Fair Housing Initiatives Program, which offers grants to nonprofits to carry out the work.
The National Fair Housing Alliance's claims that banks have failed to maintain homes in minority neighborhoods are based on shaky factual and legal ground. However, alliances between the nonprofit and its allies in government may leave bankers with little choice but to settle.
Will American oligarchs reap billions in stock profits by investing in non-governmental housing agencies?
Lenders need to boost their consumer education spending and watch out for advertorial content, according to the feds.
The Federal Deposit Insurance Corp.'s history, structure and effectiveness during the financial crisis have helped guide the discussion of housing finance reform, inspiring Senate lawmakers to push an FDIC-like system for the mortgage industry.
The rapid increase in originations may be the problem. New-issue commercial mortgage-backed securities could total $87 billion in 2013, up 81% from 2012's $48 billion.
Former Washington Mutual chief Kerry Killinger and two other bank officials are talking with the Office of the Comptroller of the Currency, the last chapter in the governments probe into the financial institution's collapse.
For the second time in 2013, Charles Head was convicted by a federal jury in the Eastern District of California for operating a major mortgage fraud scheme.
The National Fair Housing Alliance has accused big banks of discriminating against minorities in the upkeep of foreclosed properties and is seeking millions in settlementsmostly for itself. Behind its demands are faulty data and grants overseen by a federal official with close ties to the group.
Rising interest rates next year will heighten both the term risk of new deals and the refinance risk of outstanding commercial mortgage-backed securities, but Moodys ratings could remain stable.
New policies spell out "business interactions" between mortgage insurers and servicers.