The Consumer Financial Protection Bureau has a field hearing scheduled for January 17 in Atlanta, and industry sources fully anticipate that the bureau will release its final mortgage servicing rule the night before.
Newcastle Investment Corp., a key player in the huge servicing sale recently unveiled by Bank of America, has raised roughly $538 million by selling 57.5 million shares of common stock in the open market.
Now that mortgage insurance claims are waning, and new business is on the rise again, theres increasing talk that Essent Guaranty might file papers to go public this year.
JPMorgan Chase is joining the ranks of banks laying off loan review staff now that theyve settled their foreclosure cases with the Comptroller of the Currency and the Federal Reserve.
The Consumer Financial Protection Bureau, which has a mortgage-related field hearing scheduled for Thursday in Atlanta, is expected to issue its final servicing rule this week.
The National Association of Federal Credit Unions is afraid that new GSE buyback policies promulgated by the Federal Housing Finance Agency could lead to a secondary mortgage market with fewer products and less competition from credit unions and smaller lenders. In a new comment letter to the agency, Dan Berger, NAFCU’s executive vice president of government affairs, said any new buyback requirement would hurt CUs disproportionately because these so-called nonprofit lenders “do not have the volume
Arch Bay Capital, once one of the most active buyers of nonperforming residential loans, has sold most of its NPL portfolio and launched a company that will originate non-agency mortgages, according to industry officials who have been briefed on its plans.
JPMorgan Chase marked up the asset value of its mortgage servicing rights by 8 percent in the fourth quarter to $7.6 billion and reported strong residential lending results, funding $51.2 billion of product, a slight gain from a very strong third quarter.
The federal judge in charge of overseeing multiple lawsuits filed by the Federal Housing Finance Agency against non-agency mortgage-backed securities issuers for misrepresenting deals that were sold to Fannie Mae and Freddie Mac rebuffed yet another motion by one of the banks to shut down the legal action.