Fannie noted that lenders aren’t obligated to self-report any matters related to possible TRID non-compliance except in two limited circumstances where a repurchase demand is an authorized remedy.
A language preference question would raise several serious compliance and legal concerns that strongly weigh against including it on the Uniform Residential Loan Application, according to industry trade groups.
New home-equity originations on home-equity lines of credit and closed-end second mortgages fell by 6.3 percent from the fourth quarter to an estimated $45.0 billion. However, that was up 18.4 percent from the first quarter of last year.
Merger-and-acquisition activity in the mortgage sector has been relatively mild so far this year, but suddenly the table has turned with a handful of deals announced over the past two weeks and some lenders publicly stating their intentions as buyers. And one thing seems certain: It appears that all of the acquisitions will be accomplished through “asset” purchases as opposed to the acquisition of stock, be it private shares or otherwise. Early this week, Guild Mortgage, San Diego, inked...
The settlement agreement stemmed from a complaint filed by the Department of Housing and Urban Development against First Citizens Bank and Trust Co. in 2011 after an analysis of 2010 Home Mortgage Disclosure Act data.
Watt has given no indication that he wants to wade into this mess and has repeatedly stressed that it’s up to Congress to figure out what to do with Fannie and Freddie.
RSS