The CFPB is a tough cop on the beat, no doubt. But is the agency and its rules causing certain banks in Oklahoma to exit the residential lending sector?
Credit quality for global structured finance securities fell for the sixth consecutive year in 2012, again led by U.S. residential MBS, according to Standard & Poors. Looking at downgrade and default trends from 1978 through 2012, S&P found that downgrades were less pervasive last year than in previous years. Nonetheless, the mild but slow global economic recovery continues to hurt the performance of MBS and other structured finance securities for the sixth straight year. Its lagging effect means that credit quality may continue to see moderate deterioration, the rating agency said. While poor credit quality appears...
Wells Fargo and JPMorgan Chase continue to post strong residential finance profits, but there is a growing worry that the "mortgage party" may be drawing to a close.
Modified mortgage loans continue to pose credit risks for banks despite improved housing-market conditions and modest declines in foreclosure activity, according to a new analysis by Fitch Ratings. Despite better modification results (partly due to reduced payments under the Home Affordable Modification Program) through the third quarter of 2012, the high delinquency and foreclosure rates for recently modified mortgages indicate persistent asset quality problems, said ...