A former FHA commissioner, Stevens said GSE reform should include a new charter for Fannie Mae and Freddie Mac...

Stearns Lending has been on the auction block for well over a year, maybe longer...

Dan Perl, who runs Citadel Loan Servicing, Irvine, CA, said he woke up Monday morning and immediately cut his rates by 25 basis points across the board.

Many wealthy borrowers feel rich because they’re sitting on huge stock market gains achieved over the past few years. But now...

The Federal Financial Institutions Examination Council should institute an official transition period to provide lenders greater clarity and certainty in anticipation of the CFPB’s new TILA/RESPA integrated disclosure rule (TRID) slated to take effect Oct. 3, the American Bankers Association said in a letter to the financial regulatory group. The CFPB is one of the regulatory bodies that comprise the FFIEC. “We request that the FFIEC – on behalf of all banking regulators – formally establish a transition period and clarify how regulators will oversee and examine regulated institutions for TRID compliance during this time,” the ABA said in a recent letter to the council. “In so doing, the FFIEC would provide needed certainty to the credit markets and encourage lenders to ...

The National Association of Women in Real Estate Businesses is among the industry groups that generally support the final interagency statement on diversity policies and practices issued by the CFPB, the federal banking regulators and the Securities and Exchange Commission. However, in its comment letter to the agencies, one of the issues the group addressed was ways to enhance the quality, utility and clarity of the information to be collected under the final statement. “Detail is important; when releasing information, agencies and their regulated entities must carefully detail the ways they are promoting diversity and the success and shortcomings of each of their efforts,” the NAWREB said. “The difficulty will always be ensuring that the minority and women inclusion is ...

Get Your TRID On. The CFPB has put out a Know Before You Owe guide for real estate professionals to help them navigate the upcoming TILA/RESPA Integrated Disclosure rule, otherwise known as TRID. The guide spells out the major elements of the rule, such as the steps associated with closings, and provides an explanation of the new disclosures. Industry pros can download from the bureau’s website print-ready versions in Adobe Acrobat PDF format as well as pre-order printed copies from the U.S. Government Printing Office. TRID Drives ClosingCorp to Integrate With Savana’s Loan Origination Product. ClosingCorp, a San Diego-based residential real estate closing cost data and technology vendor for the mortgage and real estate services industries, has integrated its Loan ...

Issuers of non-agency MBS injected some variety into the market in recent weeks with a deal backed solely by non-qualified mortgages and improvements to the representations and warranties on a jumbo MBS. Lone Star Funds issued a $72 million non-agency MBS backed mostly by non-QMs originated by Caliber Home Loans, a lender owned by the private-equity firm. Bloomberg first reported on the deal, which was priced on Aug. 7. Details on COLT 2015-A have been...

Investors have a lot more to worry about these days than the collateral damage stemming from problems in Greece and China and a bumpy U.S. stock market. Ratings analysts indicate some new energy-related risks – most notably earthquakes near “fracking” sites and a plunge in the price of oil – have emerged as potentially significant challenges to investors in real estate and to mortgage lenders. Analysts at Standard & Poor’s said in a recent client note that earthquakes in proximity to fracking sites introduce a unique risk factor into the investment equation for those with a stake in real estate located in affected regions. “In particular, determining whether or not earthquake coverage is...

More than a year after the Consumer Financial Protection Bureau’s standards for qualified mortgages took effect, originations of near-prime non-QMs remain limited. However, industry participants are optimistic that originations will pick up and Lone Star Funds recently jolted the sector with a non-agency mortgage-backed security. The $72 million non-agency MBS from Lone Star was backed by non-QMs originated by Caliber Home Loans, a lender owned by the private-equity firm ...