Part of the $5.1 billion settlement amount Goldman Sachs agreed to in principle with the federal government last week will be used to provide relief for homeowners who owe more than the current appraised value of their homes. The agreement would resolve an ongoing investigation by the Residential Mortgage-Backed Securities Working Group of the U.S. Financial Fraud Enforcement Task Force, which President Obama established in 2009 to pursue those who played a role in causing the financial crisis. The tentative agreement would resolve...
For some servicers, including Ocwen Financial, the math of outsourcing is simple: pay back-office workers the equivalent of $2 an hour when their U.S. counterparts can earn at least five times that.
Where Realtors were once the first source of information for homebuyers, increasingly independent mortgage lenders are attempting to provide leads on homes for sale and more...
Wells' lending performance stands in contrast to its closest JPMorgan Chase, which reported a 23.3 percent sequential decline in mortgage production for the period.
Angela Klein, an attorney with the law firm Morrison & Foerster, said her firm has been talking to mortgage lenders that use big data about the risk and how little guidance there is about it.
The non-agency mortgage-backed security market could be revived this year by economic factors rather than efforts by Congress or industry participants, according to analysts. The non-agency share of mortgage originations has been relatively strong in recent years, but the loans were largely held in bank portfolios instead of included in non-agency MBS. Legislative reform of the government-sponsored enterprises and potential incentives for non-agency MBS issuance look ...
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