The volume of home mortgages outstanding continued to grow during the final three months of 2016, no thanks to the commercial banking industry. Recently released data from the Federal Reserve show $10.266 trillion of mortgage debt outstanding at the end of last year. That was up 0.7 percent for the quarter and reflected a 2.3 percent gain for the full year. The market still has a long way to go to catch up to the $11.240 trillion of mortgage debt outstanding at the end of 2007, but growth has been steady since bottoming out in mid-2014. The agency market continued...[Includes two data tables]
PHH Corp. and related parties again made a full defense of their position in their legal struggle with the CFPB over alleged misconduct under the Real Estate Settlement Procedures Act.
The Trump Administration’s proposed budget for FY2018 includes a $6.2 billion cut to programs falling under the U.S. Department of Housing and Urban Development.
The Mortgage Bankers Association this week urged Congress to support two bills that would make major changes to the National Flood Insurance Program, including clarification that would make private flood insurance acceptable to mortgage lenders....
Subsidiaries of Goldman Sachs (MTGLQ Investors) and Balbec Capital (Igloo Series II Trust) were the winning bidders of Fannie Mae's latest nonperforming loan sale announced this week. The four pools included a total of about 9,400 loans with an unpaid principal balance of $1.68 billion....
Mortgage applications rose 3.1 percent, on a seasonally adjusted basis, for the week ending March 10, 2017, versus the week before, the Mortgage Bankers Association announced Wednesday morning. The MBA's Refinance Index rose 4 percent, and its Purchase Index was up 2 percent…
Nationstar, the residential mortgage servicer, revealed recently it is being investigated by the CFPB over issues related to complying with the Home Mortgage Disclosure Act....
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