Technology-based, or “fintech,” lenders are revolutionizing the mortgage-lending process with new, innovative ways of doing business, far from the more traditional methods of delivering loan products and financial services, according to a new study by the Federal Reserve Bank of New York. The study, “The Role of Technology in Mortgage Lending,” describes fintech lenders as “lenders that offer an application process that can be completed entirely online.” Fintech lenders have grown ...
The share price of Fannie Mae and Freddie Mac common has taken a nosedive since the fall, dropping by almost 50 percent, while leaving speculators twisting in the wind and sitting on potentially hundreds of millions of dollars in losses. The reason for the slow but steady decline is hardly surprising: Reform of the government-sponsored enterprises by legislators appears to be a long shot at this point. Moreover, there’s increasing talk in Washington that an “administrative solution” to ...
Delinquencies on mortgages largely continue to decline, with strong performance expected ahead. But housing counselors look to be staying busy with an increased emphasis on issues facing potential homebuyers. One factor contributing to improving mortgage performance but hurting affordability is home price appreciation. House prices increased by 6.7 percent on an annual basis in 2017, according to the Federal Housing Finance Agency’s home price index. From the ...
Acting Ginnie Mae President Michael Bright: “If they don’t have money to make principal and interest payments to investors every 20th day of the month, then Ginnie MBS are in trouble.”
Ocwen disclosed this warning: “Non-compliance with the laws and regulations of India or the Philippines could result in restrictions on our operations in these countries, fines, penalties or sanctions or reputational damage.”
First-time homebuyers – especially those who took out private mortgage insurance – played a huge role in financing home purchases last year, according to a new Inside Mortgage Finance ranking and analysis.
Ocwen Financial midweek agreed to buy PHH Corp. for roughly $360 million in cash, a deal that caught the market by surprise and has analysts and advisors wondering whether two money-losing lender/servicers can make a go of it in a tough origination market.
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