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David Lykken, Mortgage Banking Solutions managing partner, and Christopher Thornberg, Beacon Economics principal, debate a specific section of Dodd-Frank that requires lenders to verify borrower's ability to pay back their loan.
The Department of Housing and Urban Development (HUD) has appealed a recent court decision regarding reverse mortgage non-borrowing spouses.
It’s been five years since the housing crisis challenged the servicing community with a slew of foreclosures and distressed borrowers, but servicing firms are still feeling the negative impact of loan servicing practices enacted at the time.
The U.S. Justice Department plans to bring mortgage fraud cases against several financial institutions early in 2014, using as a template the case that ended last month in JPMorgan Chase & Co.'s $13 billion settlement, U.S. Attorney General Eric Holder said on Wednesday.
Bank of America charged hundreds of thousands of distressed homeowners millions of dollars for unnecessary house inspections that forced them to default on mortgages, according to a RICO class action.
The residential mortgage-backed securities market is expected to continue its recovery well into next year as long as it’s not stunted by popping home price bubbles, regulatory uncertainty and volatile interest rates, Fitch Ratings RMBS analysts said Wednesday.
The largest U.S. mortgage servicers, including Citigroup Inc. and Bank of America Corp., still need to improve their handling of delinquent home loans, according to a court-appointed monitor.
A number of the big banks will defy the tighter lending standards that are set to kick in next month, and will offer loans that don’t meet the definition of a qualified mortgage, a new designation intended to show that borrowers can afford their mortgages.
The Federal Reserve has more reason than ever to cut a key U.S. lending rate it has kept at just above zero since the depths of the financial crisis, a top Fed policymaker suggested on Tuesday.
Wells Fargo & Co said Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks.
The first annual losses in U.S. government-backed mortgage bonds since 1994 are deepening as the dual threats of a new regulator and a Federal Reserve pullback leave buyers navigating around what JPMorgan Chase & Co. calls a modern-day Scylla and Charybdis.
There was no single cause of the financial crisis, but a chief one was surely the way mortgage loans were made by people who believed they had no reason to care if the loan was repaid.
Walter Investment Management Corp. (NYSE:WAC), the parent company of Reverse Mortgage Solutions and Security One Lending, is planning to raise or borrow more than $2 billion through credit facilities and a private note offering with intentions of buying more mortgage servicing rights, it announced on Tuesday.
The Department of Housing and Urban Development has extended the deadline for FHA-approved Title I and Title II lenders and mortgagees to file for their annual recertification package.
Some of the states hit hardest by the foreclosure crisis aren’t spending millions of dollars that the federal government has set aside to help struggling homeowners, a new report shows.
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.