Part of the $5.1 billion settlement amount Goldman Sachs agreed to in principle with the federal government last week will be used to provide relief for homeowners who owe more than the current appraised value of their homes. The agreement would resolve an ongoing investigation by the Residential Mortgage-Backed Securities Working Group of the U.S. Financial Fraud Enforcement Task Force, which President Obama established in 2009 to pursue those who played a role in causing the financial crisis. The tentative agreement would resolve...

The number of foreclosed properties and length of time it takes to foreclose is trending downward, but average time to foreclose is taking nearly three years or more in some states. RealtyTrac recently released its 2015 foreclosure report and noted that it took more than 1,000 days to foreclose in six states in the fourth quarter, with New Jersey leading the way at 1,180 days. That number is...

The Mortgage Bankers Association and flood insurance providers expressed support for legislation that would ensure the continued availability of federal flood insurance and, at the same time, facilitate the development of a private market for flood insurance. Industry representatives called for appropriate and timely long-term reforms to improve the National Flood Insurance Program, which provides mandatory flood insurance through private “write-your-own” flood insurance providers. Having gone through several extensions by Congress, the NFIP is scheduled to expire on Sept. 30, 2017, hence the call for private capital to provide flood coverage outside the NFIP. Testifying on behalf of the MBA during a recent House Financial Services Committee hearing, Steven Bradshaw, executive vice president of Standard Mortgage, said...

MGIC CEO Patrick Sinks noted that the mortgage insurer will be revising its premium rate cards soon. Stay tuned...

Although the issues cited by lenders are not FHA issues per se, some firms are concerned that TRID-related uncertainties may cause problems for their FHA business...

For some servicers, including Ocwen Financial, the math of outsourcing is simple: pay back-office workers the equivalent of $2 an hour when their U.S. counterparts can earn at least five times that.

Nonbanks don't like the idea that bank LOs can avoid passing a test...

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

“We’re seeing a lot of TRID flow right now,” said Rob Smialek, senior vice president of capital markets for Rincon Mortgage Trading.

Ocwen, in particular, will need to tell investors exactly how they plan to become a top-10 originator, something that seems like a long shot right now...