Federal Reserve Board Governor Susan Bies says the outlook for mortgage credit quality is "favorable," despite a recent rise in subprime delinquencies."While we continue to expect mortgage delinquencies will remain manageable, lenders should closely monitor future developments," Ms. Bies told the American Bankers Association annual conference. The Fed governor did caution that lenders might have placed too much emphasis on future income growth and collateral values in making nontraditional mortgages. And too many of these interest-only and payment-option adjustable-rate mortgages went to subprime borrowers over the past two years, she said. Separately, the federal banking regulators have issued a consumer information pamphlet on interest-only and option ARMs.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27 -
Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
March 27