HUD’s Single Family Policy Handbook authorizes lenders to order testing or remediation to ensure that the property’s public-water supply has acceptable levels of contaminants.
One executive who’s involved with the working group said the new guidance from the due diligence firms will help the rating agencies identify "material" risk...
John Shrewsberry, a senior vice president at Wells Fargo, said the bank has focused on adding jumbo mortgages to its portfolio. “They are very safe loans,” he said. “I think we’ve got four basis points of loss coming through that portfolio.”
Mortgage M&A historians might recall that last decade, before the financial crisis struck, Countrywide Financial Corp. was in serious talks to buy PHH’s mortgage business...
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