Some foreclosed homeowners may have the option to repurchase their homes at fair market value following a new directive from the Federal Housing Finance Agency that calls for the two government-sponsored enterprises to relax policies related to the sale of real estate owned properties to defaulted borrowers. The two government-sponsored enterprises until now have required foreclosed borrowers that want to purchase their home from REO inventory to pay the full amount of the unpaid debt on their previous mortgage. “This is...

State-regulated lenders and servicers will be required to report new information on servicing and originations to regulators beginning in the first quarter of 2015. Lenders weren’t able to win many concessions from the Conference of State Bank Supervisors, which proposed reporting changes for the Nationwide Mortgage Licensing System & Registry’s Mortgage Call Reports in October. The State Regulatory Registry, a subsidiary of the CSBS that operates the NMLS on behalf of state regulators, positioned the reporting requirements as part of an effort to reduce regulatory burden for lenders. “A goal of the MCR is...

At 7.59 percent, the hedge fund is now the third largest institutional investor in PHH.

The IMA package – top heavy with California and Florida loans – includes $110.8 million of Ginnie Mae receivables.

Just because a GSE uses a third-party vendor to assess the risk of seller/servicers as counter-parties that doesn’t mean the GSE – or their management – is off the hook if something goes awry.

A new poll from IMFnews and Inside Mortgage Finance suggests that lenders are hardly optimistic that the R&W changes will amount to anything.

The three biggest servicers in the group – Wells Fargo, JPMorgan Chase and Bank of America – all reported significant declines in servicing income.

Mortgage bankers are concerned about what the CSBS is up to and how binding its recommendations will be.

The original consent order was dated Dec. 5, 2012, establishing the compliance monitor and more.

According to figures recently compiled by RealtyTrac, 26,947 single family homes were flipped nationwide in the third quarter.