The Consumer Financial Protection Bureau last week warned that a large downpayment alone is not enough to prove the ability to repay a non-qualified mortgage when the loan was underwritten based on the consumer’s assets. “As an initial matter, a downpayment cannot be treated as an asset for purposes of considering the consumer’s income or assets under the ATR rule,” said the CFPB. “The ATR rule requires creditors to consider a consumer’s reasonably expected income or assets, ‘other than the value of the dwelling, including any real property attached to the dwelling that secures the loan.’” Further, while the size of a downpayment generally affects the loan amount, the ATR rule already accounts...

Ocwen’s management noted there is no guaranty the deal with New Residential will actually close.

Collingwood was founded in 2009 by industry veterans Brian O’Reilly, Brian Montgomery and Tim Rood.

During debate on H.R. 10, the Democrats used a procedural maneuver to force a reading of a large portion of the bill’s text…

Perhaps the new Treasury secretary finally looked at the numbers, realizing that Fannie and Freddie – wards of the government since September 2008 – forked over roughly $20 billion to Uncle Sam…

Some analysts believe the Supreme Court’s ruling will result in the filing of new claims, but the Buckley Sandler law firm sees it differently...

The Mortgage Bankers Association, for its part, expressed strong support for some provisions of the Hensarling bill…

If Mr. Cooper was the first choice, what were the others?

S&P said the revisions are intended to better reflect the evolution of the U.S. residential mortgage market over the past several years…

Stevens credited the Federal Housing Finance Agency with making “significant progress” in fixing the flaws of Fannie and Freddie...