Despite FHA’s denial of further mortgage insurance premium reductions any time soon, stakeholders are holding out hope for another cut in the near future. Those supporting the idea of another pricing adjustment say it could open the door wider for more borrowers to use the FHA single-family program and generate the volume needed to offset any potential revenue loss that may result from the reduction. But Housing and Urban Development Secretary Julian Castro and his top officials have denied any plans of reducing MIPs. Castro has called such talk “premature,” despite a positive FY 2015 actuarial evaluation of the FHA’s Mutual Mortgage Insurance Fund, which some claim could be used to justify another premium reduction. Principal Deputy Assistant Secretary for Housing and Interim FHA Chief Ed Golding, in a press briefing, said the focus is elsewhere and not on ...

The Department of Veterans Affairs has issued new guidance for submitting title documents to the VA when conveying a property in Florida. The servicing guidance addresses potential lien problems in relation to past due and unpaid homeowners association obligations. As part of conveying a property in the Sunshine State, documentation must be complete and in order so that VA can validate a clean title that will be acceptable to lenders, buyers, title companies and attorneys in the community where the property is located. Thus, property conveyance usually involves providing an owner’s title-insurance policy with no exclusions, other than for taxes that have not yet been billed but may be accrued against the property. Under Florida law, if an HOA is properly named in the foreclosure, a borrower or its assignees or successor-in-interest is only required to pay the lesser of either the ...

All of the red ink spilled on MSR marks in the third quarter will be reversed and turned into gains when servicers report their results early next year? “Generally, that’s correct,” said one mortgage CEO.

First on the IG's "to-do" list is an audit of the CFPB’s space-planning activities, largely in response to the bureau’s renovation of its headquarters building.

The average loan size is $15.36 million, the average interest rate 3.60 percent.

"Many servicing functions resemble the assembly line processes used in auto manufacturing," said a new report from Freddie Mac.

It may be holiday week, but Interactive Mortgage Advisors is out with a handful of new MSR offerings...

One investment banker familiar with the firm said, “a CFO disruption so close to the IPO just doesn’t look good.”

California had threatened to pull the company’s license over document requests that Ocwen was ignoring at the time. Eventually, the two parties came to terms.

Unless mortgage-banking income takes another steep downturn in the fourth quarter, 2015 will likely prove more profitable than 2014 by a slim margin.