Compliance & Regulation

MGIC, in some cases, has received waivers of the risk limit to allow it to keep selling policies in certain states.

The new agreements allow residential servicers to approve any short sale or deed-in-lieu that meets Fannie Mae/Freddie Mac's requirements without individual mortgage insurance company approval.

Will some of Residential Capital Corporation's massive servicing portfolio wind up at Home Loan Servicing Solutions?

Assurant said it is attempting to create more flexible policies that address the concerns of banker clients and regulators about costs and services provided.

They say including such data would allow independent monitor Joseph Smith to test if servicers are providing adequate relief in low-income communities, but Smith's hands may be tied by the language of the settlement agreement.

Mortgage bankers will be unable to sell into the secondary market any newly originated loans from the Northeast and Mid-Atlantic without a natural disaster re-inspection (NDR).

Among other things, the Department of Housing and Urban Development has imposed a 90-moratorium on foreclosures of FHA-insured loans affected by Hurricane Sandy.

Because of storm damage, lenders will need to have properties re-appraised which means home inspectors will be busy in the New York-New Jersey area and surrounding locales.

We're seeing a rise in the willingness of lenders to make home mortgages to business owners who cannot always verify income.

A spokeswoman for Wells Fargo said the refunds were not prompted by any regulatory action -- nor are they related to a federal lawsuit filed early this month by the U.S. Attorney in New York.