The VA panel presented several “egregious loan” scenarios involving reviews of several mortgages from 2016 in which lenders were required to sign indemnification agreements.
The plan to raise the standard has been met with hostility by many in the residential real estate industry, said Matthew Pointon, an economist at Capital Economics.
Alterra Home Loans hired Tom Middleton as senior vice president of business development and national expansion. He joins the nonbank from On Q Financial...
Several trade groups, investors and analysts quickly issued their take on Watt’s comments, but there were some notables missing in action: Pershing Square and Fairholme.
Federal Housing Finance Agency Director Mel Watt is prepared to allow Fannie Mae and Freddie Mac to build some type of capital buffer to avoid a Treasury draw that could weaken investor confidence. But some lawmakers vehemently disagreed with his views during a hearing in the Senate Banking, Housing and Urban Affairs Committee this week. Watt reiterated his concern about the declining capital buffer, which is scheduled to reach zero by 2018 under the preferred stock purchase agreements that set the terms of the conservatorships of the two government-sponsored enterprises. With no capital buffer, Fannie and Freddie would be forced...
Industry attorneys are warning about a “third wave” of Lehman Brothers Holdings (LBHI) MBS trust claims against mortgage lenders and brokers based on the firm’s latest bankruptcy filing. Attorneys with the firm American Mortgage Law Group said Lehman Brothers for several years has been threatening to file residential MBS trust claims against the mortgage industry to counter trustee claims filed against LBHI in bankruptcy in 2009. The wait is...
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