New Jersey recently passed licensing requirements for mortgage servicers, taking the tally to about 40 states. More than 20 states also have licensing requirements for investors in servicing.
Possibly dozens of VA lenders have been handed subpoenas from the federal government tied to VA delinquencies and possibly loan churning. Is this a fishing expedition or something more? Needless to say, lenders are worried.
The agency has begun to assemble the team that is supposed to deliver on the new director's plans for housing-finance reform. So far, the industry is impressed.
Faxing income verification requests to the IRS may soon be a thing of the past as a bill seeking to modernize IRS processes has found strong support in Congress.
Liquidity problems may be a major driver of increased merger and acquisition activity in 2019. Although bulk MSR buyers may be taking a pause to parse interest-rate trends, volume is expected to be strong this year.
Owners of private mortgage firms often take cash out of their companies as a way to preserve wealth, but usually no one knows about it. A recent SEC filing by Mr. Cooper provides certain details on such a maneuver by a recent acquisition, Pacific Union Mortgage.
Industry stakeholders warned that doing away with key enforcement tools under the Fair Housing Act will make it harder to protect consumers from discriminatory housing policies and racial segregation.
Several industry participants have criticized the Federal Housing Finance Agency’s proposed rule on the use of future credit scoring models by the government-sponsored enterprises.
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