Origination

The Consumer Financial Protection Bureau is planning stronger disclosure requirements for reverse mortgages as more evidence emerges that senior citizens are using the product without fully understanding its main features and risks.

The largest RHS lender, JPMorgan Chase, is going ahead with a pilot program that allows underwater borrowers in 19 of the “hardest hit” states to refinance without a credit check or appraisal.

The Australian ABS market remains stabile as losses for all vintages are expected to stabilize during the second half of this year despite a slight increase in delinquencies and losses for Australian ABS in 1Q 2012.

Equifax's May National Consumer Credit Trends Report shows the total volume of severely delinquent first-mortgage loans declined to $450 billion from the peak of more than $700 billion in January 2010.

Analysts at Fitch Ratings have returned Old Republic International Corp. to Ratings Watch Negative status following the cancellation of the spinoff of the mortgage insurance business into a separate entity.

The National Association of Realtors reported that its pending sales index jumped nearly 6% in May back to 101.1, the same level in March and the highest this year.

The Federal Housing Administration's increase in mortgage insurance premiums for streamline refinancings dragged down the amount of government loan applications and in turn total loan applications for the week ended June 22.

Attempts by Mortgage Guaranty Insurance Corp. to sell off its eMagic and Myers Internet units have failed and the mortgage insurer will shut down the pair of technology providers on Sept. 1.

Despite the well-known symbiotic relationship between crime rates and the socio-economic wellbeing of a neighborhood attempts to measure the toll of crime on home values are scarce if nonexistent.

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