Wells Fargo is drafting its response to an apparent grilling by Senate Democrats over hundreds of improperly denied loan modifications, many of which ended in unnecessary foreclosures.
The Federal Home Loan Banks are offering a growing array of complex advance products and the Federal Housing Finance Agency wants to make sure they price the funding appropriately.
The government-sponsored enterprises’ new high loan-to-value refinance options will kick into gear for applications received on or after November 1. These programs serve as a replacement for the popular Home Affordable Refinance Program set to expire at the end of the year.
Zillow Group earlier this month agreed to acquire Mortgage Lenders of America, a national residential originator based in Overland Park, KS. Shortly after the announcement was made, Zillow’s share price crumbled, suggesting that investors aren’t bullish on the mortgage business these days.
Some states are gearing up to tighten their regulation of mortgage servicers to pick up the slack from a perceived pullback by federal regulators, although attorneys said the Consumer Financial Protection Bureau is still enforcing its servicing regulation.
The dollar volume of subservicing contracts grew by 1.8 percent in the second quarter on a sequential basis, another sign that this specialty niche is continuing to slow, according to a new ranking and analysis from Inside Mortgage Finance. [Includes one data chart.]
First-lien mortgage originations were up across all product lines in the second quarter of 2018, but the jumbo market saw the biggest gains from the first three months of the year, according to a new Inside Mortgage Finance ranking and market analysis. [Includes two data charts.]
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