Watt noted that, “Some lenders are finally showing more willingness to extend credit to borrowers who meet the broader credit criteria reflected in the enterprises’ credit boxes…”
Ocwen originated $699.6 million in the second quarter, with a near doubling of retail originations unable to fully offset the wind-down in correspondent production…
Cowen & Co. analyst Jaret Seiberg believes the Senate Banking Committee remains on track to unveil GSE reform legislation late in the fourth quarter...
In past SEC filings Radian hinted that a write-down tied to its 2014 $305 million purchase of Clayton might be in order, but the company never pulled the trigger.
The biggest surge was in non-agency securitization of mortgages on hotels and other lodging properties, which jumped 88.7 percent from the first quarter.
If lawmakers and regulators are interested in bringing capital back to the private mortgage market and facilitating borrower access to credit in a responsible manner, they must make much-needed reforms to a handful of key mortgage rules promulgated by the CFPB, according to bond giant Pacific Investment Management Co. One recommended revision is eliminating the expansion of assignee liability for investors under the CFPB’s ability-to-repay rule. “Currently under the Dodd-Frank Act, mortgage investors are liable for mistakes made by lenders in the mortgage origination process for certain mortgage loans that are not deemed qualified mortgages,” said PIMCO. “Since investors have no role or discretion in the mortgage origination process, we believe this is not only nonsensical, but also has the ...
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