Browse articles from all of our Newsletters related to Mortgage Buybacks.
July 18, 2014 - Inside FHA Lending
Ginnie Mae servicing remained flat in the second quarter of 2014, continuing a trend that began in the third quarter of last year as FHA refinancing fell and purchase activity slowed, according to Inside FHA Lendings analysis of Ginnie Mae data. Servicing volume rose by only 0.7 percent from the first quarter, slightly lower from the 0.9 percent increase reported by Ginnie Mae servicers for the first three months of 2014. On the other hand, volume was up modestly by 5.9 percent year-over-year, data showed. Ginnie Mae servicers ended the second quarter with a total of $1.46 trillion in unpaid principal balance, up from $1.45 trillion in the prior quarter. Four out of the top five Ginnie Mae servicers were banks. Wells Fargo closed out the second quarter with $425.9 billion in servicing volume, a 0.2 percent decrease from the previous quarter but up 2.1 percent from a year ago. Its 29.2 percent market share put it ... [1 chart]
July 17, 2014 - Inside Mortgage Finance
The Consumer Financial Protection Bureau late last week said it will take a close look at mortgage brokers acting as mini-correspondents, particularly if they are just trying to get around disclosure requirements and limits on broker compensation. The CFPB is concerned that some mortgage brokers are claiming to be mini-correspondent lenders by establishing warehouse funding lines when they are still essentially just facilitating a transaction between a borrower and a lender. While some brokers may be setting up such arrangements because they intend to grow into full correspondent lenders, the bureau is concerned...
July 11, 2014 - Inside MBS & ABS
The six lawsuits filed in June by institutional investors against non-agency MBS trustees are just the beginning of actions against trustees, according to an attorney who has pursued representation-and-warranty claims against non-agency MBS issuers. We are likely to see a flood of litigation against trustees alleging that the banks sat on their hands and blew the statute of limitations on valuable putback claims, according to Isaac Gradman, an attorney at Perry Johnson Anderson Miller & Moskowitz. The June lawsuits by BlackRock, PIMCO and other institutional investors targeted...
July 10, 2014 - Inside Mortgage Finance
Recently implemented steps by the two government-sponsored enterprises to provide an alternative to repurchase when mortgage insurance is rescinded is a pleasant salve for a minor ailment, but it does nothing to address lenders chronic pain of sudden and unexpected buyback demands, according to a mortgage lender. Last week, new GSE repurchase requirements took effect, including the MI stand-in option, which Fannie defines as the full mortgage insurance benefit that would have been payable under the original mortgage insurance policy if the mortgage loan liquidates. In May, both Fannie and Freddie announced...
July 3, 2014 - Inside MBS & ABS
Freddie Mac announced this week it has obtained insurance to cover some $285 million of losses on a pool of home loans as part of a risk-sharing effort encouraged by the government-sponsored enterprises regulator. The performance of these deals has been stellar, according to one analyst. The policies, tied to loans the GSE bought or guaranteed in the second quarter of 2013, were obtained under Freddies Agency Credit Insurance Structure. First rolled out in November 2013, this weeks most recent ACIS deal the largest to date demonstrates...
June 19, 2014 - Inside Mortgage Finance
Six months after the Consumer Financial Protection Bureau implemented rules for originations and servicing, its too early to tell what impact the rules have had, according to industry participants, consumer advocates and even officials at the CFPB. The CFPB this week convened a meeting of its consumer advisory board, a 19-member panel of consumer advocates and other industry participants. Board members had plenty to say about issues in the mortgage market, but evidence about the impact of the CFPBs rules the reason for the meeting was scant. Abhishek Agarwal, the CFPBs acting assistant director of mortgage markets, said...
June 13, 2014 - Inside Mortgage Trends
Commercial banks and savings institutions reported another decline in mortgage repurchase and indemnification activity in the first quarter of 2014, according to a new Inside Mortgage Trends analysis of call reports. The industry reported just $1.14 billion in aggregate repurchases and indemnifications related to single-family mortgage banking operations during the first three months of the year. That was down 21.4 percent from the previous period and ... [Includes one data chart]
- GSE Seller Profile: 2Q14
- Top Mortgage Players: 1Q14
- Agency Condo Market: 2013
- Mortgage Profitability Report: 4Q13
- GSE Private Mortgage Insurance Profile 1Q14
- GSE Repurchase Activity Full Year 2013
- Servicing Strategies and MSRs
- Non-Qualified Mortgages
- CFPB Exam and Enforcement
- Mortgage Buybacks Guide 2014
- Mortgage Originations Channels
- CFPB Mortgage Disclosure Requirements
- Qualified Residential Mortgages and Risk Retention
- CFPB's LO Comp Rule
- Ability-to-Repay Rule and Qualified Mortgages
- Fair Lending Compliance
- CFPB Regulation of Mortgage Servicing
Most Popular Stories
- Short Takes: More Gripes About the FHFA IG Report on Nonbanks / Will the MI Biz Shift back to FHA? / GSE REO Contractor Accused of Discrimination / Ellie Mae Signs Fat Lease / A Rise in Mortgage Applications but Can it Last?
- 60-Year Old Northeast Mortgage Company Hits the Auction Block
- Final Tally on Second Quarter Originations: $295 Billion
- CFPB Proposes Adding Unvetted Customer Narratives to Complaint Database
- Jumbo Borrowers Prefer To Work With Their Primary Bank on Mortgage Financing