The Supreme Court of the United States recently refused to take up a case that would have ad-dressed a split in the lower courts regarding mortgage underwriters and overtime. With conflicting cir-cuit court opinions on the matter, lenders face regulatory uncertainty about whether underwriters are entitled to overtime.
If Montgomery garners final approval, HUD Secretary Ben Carson will begin tackling key issues, including finalizing new condominium rules, dealing with reverse mortgage losses and more…
Rep. Hensarling: “This means the government needs to be in the last-loss position, with multiple layers of private capital, as diversified as possible, stacked up before it.”
A recent report from the JPMorgan Chase Institute found that payment reduction was the most effective form of post-crisis loan modification, and a 10 percent drop in the mortgage payment lowered default rates by 22 percent.