ALTA CEO Michelle Korsmo: “We’ve heard countless stories from ALTA members about consumer confusion at the closing table…”

The Department of Veterans Affairs is drafting a new policy to address ongoing confusion about its Interest Rate Reduction Refinance Loan program and ease investor anxiety. The uncertainty among VA lenders stems from the treatment of IRRRLs under the VA’s interim final rule defining what constitutes a “qualified mortgage.” That rule took...

Maybe calling a delinquent borrower 12 times a day is too much...

A task force convened by the Mortgage Bankers Association proposed universal principles for loan modification programs across government guarantors, the government-sponsored enterprises and perhaps non-agency mortgages. The “One Modification” standards published late last week aim to provide servicers with a “cohesive framework” to complete loan mods when the Home Affordable Modification Program largely ends after this year. “MBA’s task force recognizes...

Meanwhile, other lenders said they are hearing reports of correspondent originators slowing down the sale of closed loans to Wells.

However, Georgetown University professor Adam Levitin is challenging the findings of his DC-area colleagues.

Ginnie Mae wants to make sure that issuers are not selling all their good loans and retaining the potential dregs…

In addition, HUD proposes to vary its owner-occupancy requirement…

Closing the fund means that Perry Capital will have to liquidate its holdings – including its positions in Fannie and Freddie...

A few days ago, Ditech’s parent company filed an 8-K with the SEC, disclosing delinquency information on its GSE servicing portfolio.