A recent ruling by the Rhode Island Supreme Court has increased concerns that state courts will allow liens for homeowner associations and related entities to supersede first-lien mortgages. In late December, the R.I. Supreme Court ruled that a condo foreclosure sale conducted pursuant to the R.I. Condominium Act can extinguish a prior-recorded first mortgage if the lender fails to redeem the mortgage within 30 days of the foreclosure. The decision reversed a ruling by a lower court, which found that the borrower’s mortgage survived the condo association’s lien foreclosure sale. The Mortgage Bankers Association said...

Impac is working to increase originations of non-QMs as part of an effort to mitigate against reduced refinance volumes.

No wonder Wall Street firms are trimming their fixed-income desks. MBS daily trading continues to struggle…

Will the last megabank left in the mortgage industry please turn out the lights...

The extended deadline also provides mortgage companies an opportunity to pursue loss mitigation before initiating foreclosure against a customer.

One observer called the $1.2 billion “chump change” for Wells.

We also are hearing reports that TRID errors and closing delays definitely will be affecting first quarter 2016 earnings, at least for certain nonbanks…

Mortgage firms that are thinking about selling are 15 to 25 years old, said one M&A advisor...

For lenders, the best scenario is that an arbitrator might rule in their favor, with a GSE reimbursing them for what Fannie and Freddie call “certain costs and expenses.”

Another large nonbank enters the space for unsecured consumers loans. A trend in the making?