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A group of House Financial Services Democrats are raising questions about whether taxpayers will be fully protected under the terms of a recent settlement over poorly underwritten loans held by Fannie Mae and Freddie Mac.
January 11 -
Recovery in the mortgage insurance sector will continue during 2011, as the sector eyes sustained profitability in 2012, according to an analyst at Credit Suisse.
January 11 -
The Federal Trade Commission’s identity theft red flags rule that required businesses to meet identity theft consumer protection laws before the Dec. 31 deadline is now in full effect. And according to FTC estimations it affects about 11 million businesses, many of which may still be unaware of the law and its impact on their business.
January 10 -
The New York Supreme Court ruled that MBIA Insurance Corp. did not have any way to discover if GMAC Mortgage LLC intentionally misrepresented the true nature of mortgage-backed securities that MBIA insured.
January 10 -
As we start 2011, the industry needs to review, change and implement Quality Control plans that can prevent mortgage fraud and reduce defaults in 2011. All origination platforms need to take the proper steps with quality control that ultimately will provide and support liquidity through all types of market cycles, thus benefitting all the mortgage industry stakeholders for years to come.
January 10 -
Ginnie Mae is raising the minimum net worth requirement for issuers of FHA-insured reverse mortgages to $5 million from $1 million, while establishing a minimum servicing fee for 'home equity conversion mortgage' MBS.
January 10 -
A foundation representing investors in the United States as well as three other parts of the globe said it is taking a shareholder fraud action in a Utrecht civil court related to a major acquisition by Fortis NV, a European company that had been hard hit by U.S. subprime exposures and subsequently went through a government bailout.
January 10 -
Property valuation technology developer Veros said its VeroSELECT valuation management platform has been updated to interface with the Uniform Collateral Data Portal, the still-pending technology platform the government-sponsored enterprises will use to accept appraisal data on mortgages they purchase.
January 10 -
For the past two years, the Federal Deposit Insurance Corp. has maintained a consistent crisis-response posture — bulking up its manpower, swooping in to resolve failed institutions and standing behind their depositors.
January 10 -
A ruling by Massachusetts' highest court Friday repudiating a widespread securitization practice could scuttle other foreclosure cases statewide and may portend similar blows to the industry elsewhere.
January 10
