The Department of Housing and Urban Development has delayed the implementation of a new requirement to assess the financial condition of borrowers seeking a Home Equity Conversion Mortgage loan, which was to take effect on Jan. 13. HUD’s decision to delay responds to an industry concern that the initial effective date does not give lenders sufficient time to customize appropriate software, hire and train new underwriters and complete other critical implementation tasks. It would take at least three months to do all these things, lenders said.

Freedom has big expansion plans for the new year. Company CEO and founder Stan Middleman recently told IMFnews Daily that he plans to hire between 200 and 500 residential loan officers in 2014.

A few months ago, sources close to the BofA case, said the FHFA was hoping for a settlement in the range of $13 billion.

The new requirements become effective for FHA case numbers assigned on or after March 11, 2014. Comments are due by Feb. 10, 2014.

Year-over-year through October 2013, the CoreLogic House Price Index appreciated more than 12 percent nationwide, with prices nationally now 16 percent above the low in the fourth quarter 2011, according to CoreLogic’s December MarketPulse report released Monday.

What's ahead for residential lenders and servicers in 2014? You might be surprised at some of our predictions. Hint: The servicing market looks good, at least.

Ginnie Mae chief Ted Tozer noted: “We want aggressive outreach to find out what the issues are. If they aren’t issuing, we want to know why."

Freddie Mac reported new buyback demands on $3.3 billion of mortgages during the third quarter, a stunning 31 percent increase from the previous period.

Some 44 percent of mods on portfolio loans by eight large banks and thrifts include principal reduction in the third quarter of 2013.

The terms of the FTC’s settlement require Fidelity to sell a “copy” of LPS’ title plants in the six Oregon counties.