Despite the findings of the Inspector General's office regarding appraisal reviews, the GSEs’ recent books of business are considered to be of pristine quality.
Mortgage executives are praying that even though eminent domain plans have been talked about and brought to a vote in a handful of cities, that it never gets used.
Treasury’s “Third Amendment” to the PSPA – which replaced the quarterly GSE dividend payment with a “net worth sweep” of all company profits – was the culmination of a calculated administration effort, according to former Solicitor General Ted Olson.
According to company correspondence provided to Inside Mortgage Finance, Green Tree's target date for exiting the wholesale/broker channel is mid-April.
Federal regulators have, for all intents and purposes, completed their work on the qualified residential mortgage standard. This means the final rule’s release could be imminent.
The nation’s third largest FHA servicer also admitted that it failed to inform the government mortgage insurers when its own internal reviews discovered more than 500 defective loans that never should have been submitted for coverage.
“This situation consisted of sexually charged behavior and comments from the supervisory staff and participating mortgage bankers, which resulted in a sexist and uncivil atmosphere,” the EEOC said of the JPM workplace.
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