Credit Plus Offers Reps-and-Warrants Coverage to Help Lenders Cope with CFPB, OCC Expectations. Credit Plus, a Salisbury, MD-based third-party verifications specialist for mortgage professionals, has come out with representations-and warranties-insurance coverage for all of its services, responding to the CFPB’s and the Office of the Comptroller of the Currency’s expectation that lenders are now ultimately responsible for practicing effective third-party risk management. The insurance coverage allows customers to better defend their companies against the negative financial consequences of a possible loan default and the resulting repurchase requests, the company said. “While we are confident in the quality of our verification services, we are also a strong proponent of best practices,” said Greg Holmes, national director of sales and marketing at ...

Loan brokers were slightly more purchase-focused than retail lenders...

A Realtor in North Carolina noted, “Lenders do not communicate well with real estate agents…”

New foreclosure figures compiled by RealtyTrac suggest Texas and Oklahoma could be in for some minor bumps along the road.

But all is not rosy. At JPM, mortgage servicing balances continue to decline and the bank’s executives expect production margins will compress as origination volumes diminish…

An ugly reality for land owners, mortgage lenders and others: the National Flood Insurance Program is currently $23 billion in debt and in dire need of reform.

Four of the top five ABS issuers in 2015 were closely linked to the auto industry, including the most productive issuer in the market, Ford Motor Credit.

There is also a school of thought that going forward, loan officers won’t be needed as much because of new origination technologies...

The portion of the homeowner population that is capable of benefitting from refinancing their mortgages is shrinking, and could continue to shrivel if mortgage rates rise along with interest rate increases from the Federal Reserve. But the good news is that rates have actually been falling of late as investors around the world seek the stability of U.S. dollar-dominated assets, so that slice of the refi pie could actually grow if the present market turmoil continues. “Looking at current interest rates ...

In the aftermath of the financial crisis, mortgage originations recovered more slowly in areas where market share was concentrated among fewer lenders, according to a new study by Adonis Antoniades. The author is an economist in the monetary and economic department of the Bank for International Settlements. Antoniades used data from the Home Mortgage Disclosure Act to study loan applications, originations and lenders’ market share on a county-by-county level from 2006 through 2011 ...