Purchase mortgages accounted for 39 percent of the loans included in the new Credit Suisse jumbo MBS deal. The weighted-average combined LTV was 71 percent.
The government is seeking due diligence reviews performed by Clayton, as well as all communication between the clients for whom the company performed such work.
Fannie Mae and Freddie Mac mortgage-backed securities accounted for 74 percent of combined FHLB MBS portfolios in the second quarter, up 2 percent from 1Q13.
The Chicago ordinance, which took effect in November 2011, requires mortgage lenders to register vacant properties with the city and pay a $500 registration fee.
As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.
Federal regulators this week re-proposed risk-retention requirements with an option to align the definition of qualified residential mortgages with the definition of qualified mortgages. The regulators said the alignment will help increase mortgage availability and reduce compliance costs. “The agencies are concerned about the prospect of imposing further constraints on mortgage credit availability at this time, especially as such constraints might disproportionately affect groups that have ...
Mortgage income reported in bank call reports includes earnings from production, loan sales and net servicing results, so industry profits are not tied exclusively to new lending.
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