Potential homeowners may be talking themselves out of the American dream, according to several recent surveys that show consumers underestimate their ability to get a mortgage. A Genworth survey of more than 100 lending executives found that 66 percent said eligible borrowers mistakenly think they don’t qualify for a mortgage. In a similar survey on consumer’s views on homeownership, Wells Fargo reported...
“The Greek crisis already has taken a toll on MBS and still poses a sizeable risk to performance,” according to a new report from Deutsche Bank Securities.
There are three major cooperatives that serve as middlemen between lenders and various counterparties: Lenders One, Capital Markets Cooperative and The Mortgage Collaborative.
CMLA argues that “moving implementation to January [from October] will allow lenders and settlement service providers a more gradual implementation of the new disclosures in a lower pressure environment.”
The most recent regulatory foray has come from the Conference of State Bank Supervisors, which formed the Mortgage Servicing Rights Task Force to develop standards for nonbank servicers...