Browse articles from all of our Newsletters related to State Regulators.
August 22, 2016 - Inside the CFPB
New legal requirements enacted in the state of New York in the wake of the financial crisis pose particular compliance challenges for mortgage servicers, according to a new report by analysts at S&P Global Ratings. The S&P team recently reviewed a series of laws the state legislature passed in June that attempts to address several issues related to zombie foreclosures, which refers to the phenomenon of a servicer initiating foreclosure on a vacant property but not going so far as to actually take title. Urban community activists complain such properties languish unsold for a prolonged period of time, contributing to neighborhood blight in communities least able to handle it hence, state lawmakers decided to act. One resulting requirement imposes conditions ...
August 11, 2016 - Inside Mortgage Finance
Among three nonbank servicers that grew significantly after the financial crisis, Nationstar Mortgage has managed to continue to acquire mortgage servicing rights and subservicing while Walter Investment Management and Ocwen Financial have recently sold MSRs and taken huge losses. Officials at Nationstar said the nonbank is on track to board servicing with an unpaid principal balance of $130.0 billion between August and the end of the year. The new servicing includes acquisitions of MSRs and subservicing agreements. Nationstar handled a $369.0 billion servicing portfolio at June 30, down from $386.0 billion in servicing at the end of March. I dont think...
July 29, 2016 - Inside Nonconforming Markets
Ocwen Financial reported a net loss of $87.20 million for the second quarter of 2016, with most of the loss related to so-called legacy issues. A planned settlement with the Department of Justice of two lawsuits involving the Home Affordable Modification Program and FHA mortgages caused $40.10 million in pre-tax losses for the nonbank lender-servicer. The company also paid $28.10 million during the quarter to cover the cost of monitoring settlements involving federal regulators ...
The yield on the benchmark 10-year Treasury fell to all-time low of 1.34% recently. How much better will originations be at your shop in the second half compared to 1H, if at all?
- Better by 1% to 10%.
- Better by 11% to 25%.
- Off the charts better. Applications are great now.
- Worse than 1H, but not by much.
- A lot worse. But not sure on the damage.
Most Popular Stories
- A Small Revival for Subprime? Two New MBS Deals Hit the Market. Nomura Had a Role in Both
- Short Takes: A 25 Percent Chance Uncle Sam Will Lose the GSE Lawsuits / Risk-Sharing Depletes Shareholder Value / Former Fannie CEO Mudd Settles with SEC / Mudds Second Act Didnt Last Long / A New Hire for Closing Corp.
- Redwood Shoots Down Report on Suspension of its Jumbo MBS Program
- CFPB Considering Registration System for Nonbanks, Mortgage Firms Included
- Trade Groups with Nonbank Members Ask the CFPB: How About Us?