Add this to the mortgage banker worry-list: the FHFA is once again toying with the idea of changing the minimum servicing fee on Fannie Mae and Freddie Mac loans.
Average loan-to-value ratios and debt-to-income ratios on loans securitized by Fannie Mae and Freddie Mac were slightly lower – and credit scores edged slightly higher – during the fourth quarter, according to a new Inside Mortgage Trends analysis. The average LTV ratio edged down from 78.53 percent in the third quarter to 77.54 percent in the final three months of 2012. The average DTI ratio declined slightly, from 31.92 percent to 31.88 percent, while the average ... [Includes one data chart]
Thanks, in part, to HARP loans private mortgage insurers in 2012 posted their best year since the financial market collapse back in 2008, according to new figures compiled by Inside Mortgage Finance.
Joe Anderson, who worked at Countrywide Financial Corp. for 17 years and then Nationstar, is considered the top candidate to get the CEO job at Vericrest Financial.
A new final rule from the Department of Housing and Urban Development may make it harder for lenders to defend against allegations of racially discriminatory policies and even more difficult to structure an effective compliance program under the Fair Housing Act, according to legal experts. Issued last week, the rule provides that HUD or a private plaintiff can establish a so-called disparate-impact liability under the FHAct, even if there is no intent to discriminate. The agency said the rule establishes no new law – since HUD and appellate courts have upheld the disparate impact theory in fair housing cases for decades – and aims to standardize the minor variations for determining liability under the statute. The rule establishes...
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