After years of confusion among servicers and borrowers, the Internal Revenue Service is getting closer to issuing guidance about how servicers should report interest to the IRS on mortgages that receive significant loan modifications. The Mortgage Bankers Association and the American Bankers Association recently submitted a joint comment letter to the agency, which announced plans to issue guidance on the matter back in December 2015. The trade groups said...

A proposal by the Maryland Commissioner of Financial Regulation regarding servicing transfers prompted strong opposition from servicers, who cautioned that it would disrupt mortgage markets. In January, the Maryland CFR proposed a number of amendments to its mortgage regulations. The proposal revised an initial plan from the state regulator back in January 2015. The new proposal included...

Still, lenders and servicers that fail to comply with the established legal framework run the risk of an unenforceable e-note…

Since Fairholme filed its “takings” case the government, Uncle Sam has turned over 48,000 documents totaling more than 500,000 pages.

Attorney Barbara Mishkin notes: “…the amicus brief to be filed by the U.S. can be expected to support PHH’s position that the CFPB’s single-director-removable-only-for-cause structure is unconstitutional.”

Fairholme extolled the GSE’s massive fourth quarter profits of almost $10 billion, and called them “indispensable” to the mortgage insurance industry…

Perhaps, residential servicers should receive 33 basis points for servicing Fannie/Freddie loans, not 25 bps...

"You can't overload the human brain," said newly minted HUD secretary Ben Carson. And there was more...

Researchers at the Federal Reserve Bank of New York said there’s still plenty of demand for home equity loans and cash-out refis but…

Cowen notes: “…this latest flare up reinforces our view that Treasury is unlikely in 2017 to unilaterally change the profit sweep at Fannie and Freddie…”