The number of VA loans with a deficiency fell in April from March but was up 71.7 percent from the same period a year ago, according to the VA Lender Report Card. The report card includes VA loan reviews and deficiencies by month from April 2014 through April 2015. VA loan originations over the one-year period totaled 563,967, the report showed. Of those loans, 303,149 were purchase loans, 162,447 were streamlined refinances, and 98,371 were cash-out refis. A total of 39,037 loans were reviewed by VA, which comprised about 7.0 percent of total volume. Altogether, 14,793 loans (37.9 percent) had deficiencies. The average deficiency response time was 28.1 days. Of the 1,726 loans the VA examined in April, 613 (35.5 percent) contained deficiencies, down from 1,234 loans (33.7 percent of 3,662 loans reviewed) that were found with flaws in March. The number of deficient loans found in ...

A VA mortgage servicer must immediately schedule an inspection and protect a property securing a VA loan if the property has been left vacant or abandoned by its owners. According to new guidelines issued by the VA, loan servicers must conduct an inspection immediately after becoming aware that the property’s physical condition may be in jeopardy. If local codes require more extensive protection than what VA requires, servicers should adhere to local requirements, the agency said. Failure to protect and preserve the collateral may result in a reduced guaranty claim if the servicer’s failure increased the VA’s liability on the loan. Unless the loan is undergoing loss mitigation, a property inspection is also required before the 60th day of delinquency or before starting foreclosure, whichever is earlier, the VA said. In addition, a property inspection will be required at least once a month after ...

Regulatory scrutiny of Caliber Home Loans includes an investigation by New York Attorney General Eric Schneiderman...

As one JPM competitor noted: “It’s no surprise that correspondent led the way for them. They own the correspondent jumbo market.”

According to a rate sheet, the minimum loan amount on the rental properties is $250,000 while the minimum number of properties is five...

Moody’s found that completed foreclosures for bank-serviced loans in Florida averaged 1,077 days or three years...

On its largest MSR auction of the year, MountainView said the high bid came in at a multiple of 3.95-times the servicing fee.

The former CFPB official said non-W-2 borrowers – like the self-employed, retirees and people with seasonal income – account for 30 to 40 percent of applicants for jumbo mortgages...

Where's the demand? Only seven jumbo MBS were priced during the third quarter.

The use of proprietary mods by banks was essentially level compared with the second quarter of 2014 while the number of HAMP restructurings declined by 42.9 percent.