Mid-sized nonbanks the likes of Prospect Mortgage and Guaranteed Rate reportedly have teams of employees whose job it is to look at company acquisitions, but whether any deals of size get completed by year end is another matter. According to interviews conducted by Inside Mortgage Trends, investment banking firms appear to be quite busy with buy- and sell-side clients. Many advisors believe smaller transactions could be plentiful in the second half of the year ...

In July, the Consumer Financial Protection Bureau proposed adding 40 new data fields for collection under the Home Mortgage Disclosure Act. Industry attorneys advised lenders to look at their current operations through the data fields the CFPB will likely see and make adjustments before the federal regulator completes new in-depth analysis. Warren Traiger, counsel at the law firm of BuckleySandler, said the new HMDA data will be a fair lending “game changer” ...

Homebuyers with less-than-stellar credit as well as those with low income are finding it easier to purchase a house with an FHA mortgage than affluent buyers, according to recent research by an independent housing research and consulting firm. Based on Department of Housing and Urban Development data and interviews with industry executives, researchers at John Burns Real Estate Consulting concluded that ...

The Financial Accounting Standards Board has announced changes to the way it accounts for government-backed mortgage loans upon foreclosure. The change, which is being made through FASB’s rule, “Receivables – Troubled Debt Restructurings by Creditors,” is aimed at reducing diversity in the accounting treatment of FHA and VA loans that have been subject to foreclosure, according to FASB’s Emerging Issues Task Force. The EITF ...

The head of a group of disenfranchised Fannie Mae and Freddie Mac investors has called on Federal Housing Finance Agency Director Mel Watt to end conservatorship of the two GSEs and undo what stakeholders consider the illegal government “net worth sweep” of Fannie and Freddie profits. Tim Pagliara, executive director of Investors Unite, followed Watt to Atlanta to seek a meeting with and to put pressure on the director to acknowledge the concerns of GSE shareholders.

The increased market share for first-time homebuyers is part of a seasonal trend that has occurred in each of the past three years.

The second-quarter rebound in mortgage profits was linked to an increase in new lending and loan sales.

Most servicing advisors – and stock analysts – continue to believe Ocwen will complete the Wells deal, probably sometime this fall. “Who else is willing to buy it?” said one source.

Franchise deals – where stock and licenses change hands – could dominate the M&A market for the remainder of the year.

Another concern was that out-of-state call center lenders might not know the local lending laws, which can result in delayed closings.