Wells Fargo and Bank of America rank first and second, respectively, among bank home equity lenders, according to exclusive rankings from Inside Mortgage Finance.
What if the U.S. government actually defaults on its debt – what would that do to the value of MBS and Treasuries held on the balance sheet of banks? You may not want to know the answer.
The top five FHA funders – Wells Fargo, Quicken Loans, Freedom Mortgage Corp., Bank of America and Flagstar Bank – saw their combined originations decline by 5 percent.
In light of the court decision in the overtime pay case, the government must either appeal to the U.S. Supreme Court or start a formal rulemaking process to withdraw the 2006 opinion.
Industry advisors and lobbyists hope they can move the implementation date for lower GSE loan limits deep into the second quarter, but they also realize they cannot forestall it completely.
Some lenders have vowed to close loans without IRS verifications, filling the void by asking for additional and in-depth documentation – but only on retail-sources mortgages.
The assignee liability inherent in the Dodd-Frank Act and the CFPB’s ability-to-repay rule will keep institutional investors away from the non-agency mortgage-backed securities market, resulting in less credit availability for mortgages that fall outside the ATR’s qualified mortgage standard, John Gidman, president of the Association of Institutional Investors, told the Senate Banking, Housing and Urban Affairs Committee last week. The Dodd-Frank Act and the CFPB’s subsequent regulations create a path for a defaulting...
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