Compliance & Regulation

The consumer must purchase the flood coverage in combination with homeowners insurance. The company lays claim to being the first admitted carrier in the state to offer such coverage post-Biggert-Waters.

Some products are being revised while others are seeing greater interest as lenders look to remain under the 3% fee cap.

The case involved a lender leasing space in a bank office with the rental fee allegedly based on loan production.

The complexity of regulations and the potential for updates or new guidelines renders static documents inefficient and inflexible.

The Rate Reset Protection option enables eligible borrowers to reset and lock-in a lower rate on a conforming, jumbo and super jumbo five-year adjustable-rate mortgage up to five times during the life of the loan.

A continuing stumbling block is that Fannie Mae and Freddie Mac are unhappy about having their liens on properties subordinate to PACE loans, a DBRS executive said at ABS West.

The registry is not entitled to be notified of a pending tax lien sale, the ruling states.

Current mortgage lending growth assessments are consistently pointing in one direction: jumbo loans, and to a lesser extent home equity credit lines. But these loans make sense only in certain areas.

Players in the REO-to-rental space see a bright future in pooling the cash flows of many operators into conduit transactions, but some believe the market is getting ahead of itself.

Fannie Mae had brought claims against New York-based Lehman over mortgages the bank packaged and sold. The agreement resolves one of the “single largest remaining claims” against the Lehman parent.