New York regulator Benjamin Lawsky also questioned the efficiencies touted by nonbank mortgage servicers, countering that “technology alone does not keep a family in its home."
The Mortgage Bankers Association continues to trim its production forecast for 2014 as the year progresses. Still, some lenders are hopeful and most of them are nonbanks.
So, what’s the biggest impediment to mortgage volumes taking off this spring? According to a new poll from Inside Mortgage Finance, it’s a lack of housing inventory.
The Consumer Financial Protection Bureau is on the lookout for lenders that facilitate occupancy fraud as a way to avoid the agency's ability-to-repay rule.
There is a tradeoff between taking on more higher-risk loans and raising g-fee prices, FHFA official Bob Ryan noted, and the calculation has to take into account other players in the market, such as the FHA.
Correspondent mortgage originators accounted for a little over a third of the single-family mortgages securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the first quarter of 2014, but they are an unusually rich source of the industry’s most prized commodity, according to a new analysis by Inside Mortgage Trends. Some 68.7 percent of correspondent-originated loans were purchase-money mortgages, the highest such ratio for ... [Includes one data chart]