State Regulators

Browse articles from all of our Newsletters related to State Regulators.

March 17, 2017 - Inside FHA/VA Lending

Georgia Appeals Court Finds for Wells Fargo in Provisional Win

A Georgia appellate court recently handed Wells Fargo Bank a provisional win in a lawsuit in which a VA borrower alleged breach of contract and wrongful foreclosure. In Wells Fargo Bank, N.A., d/b/a Wells Fargo Home Mortgage v. LaTouche, the court ruled that Wells did not breach its duty to the borrower to comply with VA foreclosure regulations. The court concluded that the trial court had erred in denying Wells Fargo’s motion for summary judgment as to the defendant’s claims for wrongful foreclosure that hinged upon the same VA regulations. The reversal stemmed from Wells Fargo’s request for an interlocutory review of the trial court’s denial of its motion for summary judgment on defendant Michael LaTouche’s claims for breach of contract, wrongful foreclosure and “surprise. An interlocutory review is undertaken when a question of law must be answered by an appellate court before ...

March 9, 2017 - Inside Mortgage Finance

Servicers Strongly Oppose Proposed Regulations In Maryland Regarding Servicing Transfers

A proposal by the Maryland Commissioner of Financial Regulation regarding servicing transfers prompted strong opposition from servicers, who cautioned that it would disrupt mortgage markets. In January, the Maryland CFR proposed a number of amendments to its mortgage regulations. The proposal revised an initial plan from the state regulator back in January 2015. The new proposal included...

March 9, 2017 - Inside Mortgage Finance

Subservicing Sector Starting to Look Crowded As More Firms Choose ‘Capital Light’ Strategy

The nation’s residential subservicing specialists increased their contract base to $1.93 trillion at the end of 2016, a 2.7 percent sequential gain and an impressive 22.9 percent improvement over yearend 2015, according to survey figures compiled by Inside Mortgage Finance. It’s a sign that this segment of the industry is beginning to look a bit crowded, which means profit margins could come under pressure. Over the past year, several fairly large players in the market – Flagstar, Nationstar Mortgage, Walter/Ditech and PHH Mortgage – have sold...[Includes one data table]

March 3, 2017 - Inside Nonconforming Markets

Ocwen Working Toward Acquiring Servicing

Limitations spanning more than three years on Ocwen Financial’s ability to acquire servicing could be ending soon. Company officials stress that a resumption of servicing acquisitions will help Ocwen see some benefits from economies of scale. In the three years since the New York Department of Financial Services started preventing Ocwen from acquiring servicing, Ocwen’s portfolio has declined by more than 50.0 percent, hitting an unpaid principal balance of $209.09 billion ...

February 27, 2017 - Inside the CFPB

Maryland Looks to Exceed CFPB Standards for Servicing Transfers

Two years after first proposing a regulation addressing mortgage servicing rights transfers, the Maryland Commissioner of Financial Regulation recently issued a revised iteration that could have a big effect on the mortgage servicing industry, according to attorneys with the Ballard Spahr law firm. According to a summary by the attorneys of the technical language of the proposed regulation, for any transfer of MSR involving at least 7,500 loans, the transferee servicer would have to report certain information to the commissioner at least 30 days before date of the transfer. Specifically, the transferee servicer would have to “report whether the transfer involves a subservicing agreement or an agreement for the sale of mortgage servicing rights; the names of the parties to ...


With the spring homebuying season in full swing, what percentage of your March 2017 application volume has been for “purchase” loans?

75% or higher
50% to 74%
30% to 49%
Under 30%

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