House Passes Flood Insurance Bill. On Nov. 14, the House of Representatives passed on a vote of 237 to 189 H.R. 2874, the 21st Century Flood Reform Act, which would reauthorize the National Flood Insurance Program for five years. The program expires on Dec. 8, 2017. In addition, the bill would make changes that would allow private companies to sell not only NFIP coverage but to write and offer their own flood insurance policies as well. The Senate is still negotiating the terms of its own flood insurance bill. Northwest Trustee Sued for Illegal Foreclosure of Servicemembers’ Homes. The Department of Justice is seeking, among other things, monetary damages and civil penalties against a foreclosure trustee for allegedly foreclosing on homes of active members of the US military without proper court order. In a lawsuit filed Nov. 9 in U.S. District Court for the Western District of Washington, the ...

Industry observers contend Ocwen, another money-losing company, would love to find a merger partner, but must first resolve its regulatory problems…

Qualified borrowers need not worry about repaying the closing-cost amount, Flagstar said...

When the Dow Jones corrects, rates will plunge. Right?

Excluding PennyMac, the eight remaining nonbanks had a combined $41.21 million net loss on mortgage banking activity…

However, a tool currently used by FHA appears to be an obvious solution to the churning problem…

So, where’s Mick?

As press time, details were sketchy, but lobbyists who claim to have knowledge of the draft caution there are several “different pieces” to the measure...

Industry consultant Paul Hindman: “There seems to be a growing number of participants in this year’s game of musical chairs."

Codel joined the megabank in 1993. He’s a graduate of Harvard University with a degree in engineering science…