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Federal Reserve Board Chairman Ben Bernanke called on regulators to "look carefully" at rules which diminish the origination of prudently underwritten mortgages, telling a gathering of home builders that the health of the housing market is central to the vitality of the economy as a whole.
February 10
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Federal banking agencies seem to be making little progress in promulgating regulations that will set the ground rules for a revival of the private-label MBS market.
February 10 -
NCUA proposed new rules for troubled debt restructurings that will cover how all federally insured credit unions account for delinquencies, charge-offs and income related to troubled home mortgages and member business loans, as well as for how those loans are reported on NCUA's quarterly Call Reports.
February 10 -
Salt Lake City-based lender Primary Residential Mortgage Inc. has created a new “enterprise risk management” group with the goal of managing risk through the entire loan origination process and ensuring that the company has appropriate monitoring and evaluation policies.
February 10
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If the GSEs initiated a principal reduction program similar to the one outlined in the robo-signing settlement, roughly 650,000 borrowers could benefit, distressed sales would level off, and home values would “stabilize,” according to Moody's Analytics chief economist Mark Zandi.
February 10 -
In addition to the national mortgage servicing settlement, Nevada has reached a side deal with Bank of America, state Attorney General Catherine Masto announced late Thursday.
February 10 -
The $25 billion 'robo-signing' settlement with the five mega-servicers includes a new set of servicing standards - and a mortgagor's ‘Bill of Rights' - to prevent future processing and foreclosure abuses.
February 10 -
FHA indemnification agreements have been running at an average rate of 1,282 each year for the last seven years, according to a Collingwood Group executive who spoke during a conference call Wednesday afternoon.
February 10
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A federal judicial panel denied a motion to include the Dallas County district attorney’s lawsuit against Merscorp in the ongoing multidistrict litigation against the private loan registry in Phoenix.
February 9
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The $26 billion 'robo-signing' settlement with five major servicing banks announced Thursday morning could yield nearly $35 billion in principal reductions, according to Housing and Urban Development secretary Shaun Donovan.
February 9
