FHA is seeing its cash reserves increase more than expected. Meanwhile, yet another mortgage vendor is laying off workers.

The former Encore Mortgage executive said he will concentrate on lower FICO score lending, in particular what he calls the “B&C” market.

Today, Fannie Mae/Freddie Mac g-fees average 50 to 55 basis points compared to 24 bp back in 2009.

MountainView Servicing Group has set a bid deadline of August 29 on the Fannie Mae/Freddie Mac MSRs.

It appears that mortgage bankers are beginning to liberalize, somewhat, the credit scores they're willing to accept on FHA loans.

EverBank also will evaluate each eligible borrower still in the process of foreclosure for a new loan modification.

The CFPB may need to reach out more to consumers in areas that face the highest risk of foreclosure, and intensify pressure on lenders that serve older Americans, according to a new analysis of the CFPB’s consumer complaint database by a handful of faculty members at the Yale University School of Law. Analyzing a new data set of 110,000 consumer complaints lodged with the bureau, they found that Bank of America, Citibank and PNC Bank were “significantly less timely in responding to consumer complaints than the average financial...

Tammy Butler, the director of fair lending and compliance for Optimal Blue, a leading pricing engine, said she’s been hearing from one attorney and industry consultant after another that the time of mortgage lenders naming their fees just to re‐name profit is not going to go over well with the CFPB. “In fact, those who have been through the exams or been fined have learned the hard way that complete transparency to the consumer is a must,” Butler said.For instance, Butler has heard some lenders plan on lumping a...

There are plenty of challenges associated with the CFPB’s new standards for error notices and information requests, which are part of the bureau’s new mortgage servicing standards, and policy analysts at PricewaterhouseCoopers have some compliance suggestions to help companies measure up. “The new standards for error notices and information requests are expected to have a substantial impact on all mortgage servicers,” the PwC analysts said in a recent overview. “Implementing the changes will require careful review and possibly...

The CFPB’s ability-to-repay rule and its qualified mortgage standard are getting closer every day, and best practices may provide the surest path to compliance. First off, if you haven’t started, start now. “There’s a lot to do, there’s a lot to know, and there’s a lot to sort out. So, go ahead and get started. It’s already August, and January will be here before we know it,” Ginger Moore, the compliance officer at PrimeLending, a top-25 mortgage originator based in Dallas, TX, told participants during a recent Inside Mortgage...