Purchase mortgages accounted for 39 percent of the loans included in the new Credit Suisse jumbo MBS deal. The weighted-average combined LTV was 71 percent.
The government is seeking due diligence reviews performed by Clayton, as well as all communication between the clients for whom the company performed such work.
Borrowers are given the option to either make a single, lump sum draw for adjustable and fixed-rate HECMs at closing or within the 12-month period after the loan closing.
In a letter dispatched to CFPB Director Richard Cordray, MBA stresses that mortgage firms are not being allowed enough time to properly comply with the January 2014 implementation of the bureau’s many new rules.
As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.
Commercial banks and savings institutions continued to generate solid earnings on their mortgage banking activity during the second quarter of 2013, according to a new call report analysis by Inside Mortgage Trends. Banks and thrifts reported $8.164 billion in mortgage banking income during the second quarter, a 6.0 percent increase from the first three months of the year. It was, in fact, the second best quarterly earnings for the industry since the bank call report was amended in ... [Includes two data charts]
Federal regulators this week re-proposed risk-retention requirements with an option to align the definition of qualified residential mortgages with the definition of qualified mortgages. The regulators said the alignment will help increase mortgage availability and reduce compliance costs. “The agencies are concerned about the prospect of imposing further constraints on mortgage credit availability at this time, especially as such constraints might disproportionately affect groups that have ...
RSS