Although much of the discussion about nonbank servicing standards has focused on capital, the CSBS framework will cover considerably more ground than that.

The Consumer Financial Protection Bureau’s proposal to significantly expand the regulatory requirements related to successors in interest poses legal risks, threatens personal privacy and could foster instances of fraud, mortgage industry officials said. The provisions related to successors in interest are part of a package of proposed amendments to the bureau’s 2013 mortgage rules under the Real Estate Settlement Procedures Act and the Truth in Lending Act ...

In total, 16 groups signed the letter, including the American Bankers Association, the Community Mortgage Lenders of America, and the National Association of Realtors...

More than a year after standards for qualified mortgages took effect, a number of lenders are willing to offer non-QMs, but production has been concentrated on affluent borrowers. Lenders seem less willing to offer non-QMs to borrowers with lower credit scores or higher loan-to-value ratios. For the past year, Nationstar Mortgage has been working toward offering a non-QM refinance product. The loan would target non-agency borrowers in the nonbank’s large servicing ...

Real estate agents have a positive outlook for the spring homebuying season, especially first-time homebuyers, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Tom Popik, research director of Campbell Surveys, said homebuyer traffic was higher than expected during the winter and demand from first-time buyers is expected to be strong in the coming months. “Rising interest rates may stimulate the market as homebuyers ...

In the wake of a recent Supreme Court of the United States decision allowing loan officers to receive overtime pay, mortgage company owners are already laying down the law: no OT for LOs unless management approves the extra time first. The freshly decided case is causing lenders to distinguish between “inside” and “outside” salesforces. According to early interpretations of the decision, loan officers who work in a branch more than half their time are ...

Still, industry representatives were less than thrilled, including the Consumer Bankers Association.

The supply of home mortgage debt outstanding grew for the second consecutive quarter during the final three months of 2014, eking out a slim 0.1 percent gain from the end of September. The Federal Reserve late last week reported that $9.862 trillion of 1-4 family mortgage debt was outstanding at the end of last year. It may not sound like much, but it marked the first time since ... [Includes one data chart]

The volume of mortgage-servicing right transfers is expected to continue growing in 2015, perhaps hitting as high as $500 billion, according to experts attending the MSR conference sponsored by Information Management Network this week in New York. Although the focus in recent years has been on the advance of nonbank servicers, observers agree that banks will remain a major force in the industry. The wild card in the MSR market is ... [Includes one data chart]