State regulators are increasingly requiring investors in mortgage servicing rights to get servicer li-censes even if they don’t perform any loan administration functions, according to industry lawyers.
New York financial services regulators have ordered PHH Mortgage to pay $119,000 in penalties for failing to maintain a vacant and abandoned property in violation of state’s “zombie” foreclosure law.
Washington Analysis believes the FHFA/Treasury move is a “clear positive for shareholders in the GSEs, particularly holders of junior preferred shares..."
The correspondent share of jumbo originations has risen in the past year while the retail share declined, according to a new analysis by Inside Nonconforming Markets. The survey found that correspondent production accounted for 18.1 percent of jumbo originations in the third quarter of 2017, up from a 14.3 percent share in the third quarter of 2016. During that time, the retail share of the lenders’ jumbo production fell from 81.3 percent to ... [Includes one data chart]
As Congress worked on tax reform legislation, participants in the structured finance market didn’t raise many concerns, but the bill passed this week could cause some problems for MBS and ABS markets, according to the Structured Finance Industry Group.
More first-time homebuyers took advantage of the government-sponsored enterprises’ 97 percent loan-to-value mortgage products this year – to the point where they likely took away market share from the FHA program.
It’s been an ugly year for retail chain bankruptcies, which means investors in commercial MBS backed by such properties are continuing to feel queasy about some of the bonds they own.
The number 15th ranked Fairway Independent Mortgage wouldn’t provide a hiring estimate but CEO Steve Jacobson said, “We’re always open minded about opportunities.”
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