The PATH Act awaits a vote on the House floor. But Hensarlings measure is widely viewed as a non-starter in comparison to the Senates bipartisan Corker-Warner bill.
According to a new letter obtained by Inside Mortgage Finance, HUD says it is uncertain whether any new loan created under the controversial eminent domain plan would qualify for FHA insurance.
Industry reaction to Obamas speech was generally favorable, particularly as it related to his call for continued, unfettered access to the 30-year FRM.
Stated-income loans are being offered at 5.49 percent as long as the borrower puts down 20 percent. Meanwhile, Walter wants to keep its contract terms with Fannie Mae secret.
Ocwen Financial has outpaced subprime servicers in terms of growth in the past year and hopes to more than double its portfolio within the next year. Ocwen handled $145.98 billion in subprime mortgages as of the end of the second quarter of 2013, a 54.8 percent increase compared with the same time last year. In the past year, no other servicer grew at a rate even close to that, according to a new ranking and analysis by Inside Nonconforming Markets. An estimated $440 billion in ... [Includes one data chart]