Browse articles from all of our Newsletters related to State Regulators.
October 10, 2014 - Inside FHA Lending
FHA to Extend Short Refi Program. The FHA has announced its intent to extend its Short Refinance Program for borrowers in negative equity positions. A mortgagee letter will be issued soon to announce the extension. Feedback Period extended for Draft Servicing Section of Proposed Single Family Handbook. The FHA is extending the comment period for the draft servicing section of the Single Family Housing Policy Handbook through Nov. 14, 2014 to allow stakeholders additional time to study and comment on the proposed section. The original deadline date was Oct. 17. CFPB Updates Reverse Mortgage Guide. The Consumer Financial Protection Bureau recently updated its reverse mortgage guide on its website to account for recent changes made by the Department of Housing and Urban Development to its Home Equity Conversion Mortgage program. The updated guide highlights new limits to ...
September 29, 2014 - Inside the CFPB
State-licensed mortgage companies and the agencies that oversee them are on the verge of receiving the same kind of protections against waivers of privilege for information provided to the CFPB that was previously extended to depository mortgage lenders supervised by federal agencies. Before adjourning for the November elections, the U.S. Senate passed H.R. 5062, the Examination and Supervisory Privilege Parity Act of 2014. The bill would require the CFPB to coordinate its supervisory activities with state agencies that license, supervise or examine those non-depositories that offer consumer financial products or services. It also would provide that when someone shares information with those same state regulators, or with prudential regulators and state banking regulators, that sharing does not waive attorney-client privileges. ...
September 26, 2014 - Inside FHA Lending
Approved issuers must ensure that loans have the requisite federal insurance or guarantee before bundling them for securitization, cautioned Ginnie Mae. Loans that fail Ginnies loan matching review will be tagged as uninsured and will not be accepted for securitization, according to John Kozak, a Ginnie Mae account executive and a panelist at a conference sponsored by the agency this week. Ginnie Mae uses loan matching to screen for mortgages that may have been endorsed on paper but have not been actually insured or guaranteed by either the FHA, VA or the Department of Agricultures Rural Housing Development. Every month, Ginnie Mae takes a certain lenders entire mortgage portfolio and throws it up against the agencys insured/guaranteed database in search for loan mismatches. To do this, the agency uses two-string match criteria, which consist of a ...
September 25, 2014 - Inside Mortgage Finance
Ocwen Financial once the largest buyer of legacy mortgage servicing rights in the secondary market is mostly sitting on the sidelines these days when it comes to buying new product. According to servicing advisors and industry officials familiar with the company, the nonbank has been selectively bidding on smaller pools, staying away from larger deals. Meanwhile, Ocwen still hopes...
- FRESH OFF THE PRESSES! GSE Seller Profile: 3Q14
- Mortgage Profitabiilty 2Q14
- Top Players 2Q14
- GSE Private Mortgage Insurance Profile 2Q14
- Agency Condo Market: 2013
Over the next six months we plan to hire this many more additional loan officers:
- 1 to 10 (We're being careful.)
- 11 to 30 (We're optimistic.)
- More than 30 (We're in a growth mode as the banks get out.)
- We're cutting back. (Are you nuts? It's ugly out there.)
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