The Nonprofit Alliance of Consumer Advocates focuses on helping borrowers that have mortgages owned by a servicer subject to the $25 billion national servicing settlement.
Credit Insurance Risk Transfer 2015-2 covers an $8.1 billion pool of mortgages with a maximum coverage of approximately $202.5 million provided by re-insurers.
Although all 13 firms reported positive earnings on their origination and sales activity, many noted that production-related revenue did not keep pace...
A federal appeals court in New Orleans has overturned a 2014 district court ruling, reviving two government MBS lawsuits that were initially dismissed because they were filed past the state’s established time limit. The Federal Deposit Insurance Corp.’s separate lawsuits against RBS Securities Inc., on one hand, and against Deutsche Bank and Goldman Sachs, were both filed on Aug. 17, 2012. The complaints alleged that the banks misled investors about the credit quality of the mortgage loans that backed $840 million in non-agency MBS. The district court’s decision to dismiss, however, turned on...
Mortgage bankers saw improved profitability in both servicing and loan production during the second quarter of 2015, according to a new Inside Mortgage Trends analysis of earnings reports from major lenders. A group of 13 publicly traded companies reported a combined $2.10 billion of production-related income during the second quarter. That was up 9.9 percent from the previous period, and raised their combined production earnings for the first half of the year to $4.01 billion, a 54.7 percent increase over the same period in 2014. Although all 13 reported positive earnings on their origination and sales activity, many noted...[Includes one data table]
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