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Short Takes: Waiting for the Supremes; Grilling the CFPB; Nationstar Litigation

June 22, 2015
SCOTUS Watch: We’re still waiting for the Supreme Court to issue its disparate-impact ruling in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. The central issue here is whether disparate-impact claims are cognizable under the Fair Housing Act. A decision could come any day, so stay tuned… …
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FHA Proposes Guidance for Identifying, Dealing with Loan Defects

June 19, 2015
George Brooks
The guidance explains how the FHA intends to categorize defects found in endorsed single-family mortgages.
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Agency Jumbo Market Up Sharply in Early 2015

June 19, 2015
John Bancroft
Wells Fargo was the top conforming-jumbo lender in the first quarter of 2015, with $3.10 billion in such originations.
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Marketing in Spanish? Disclose, Service in Spanish

June 19, 2015
Thomas Ressler
If you are advertising or marketing mortgage products in Spanish, compliance experts suggest you should provide all requisite disclosures and servicing in Spanish.
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Mortgage Share of Home-Purchase Financing Increasing

June 19, 2015
Brandon Ivey
The non-cash share of financing for home purchases increased to 75.2 percent in May, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
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Short Takes: Ocwen Downgraded / CFPB Investigating Bankrate / Ginnie to Revamp Loan Docs / StoneGate Launches Third-Party Portal

June 19, 2015
Brandon Ivey
S&P's downgrades have numerous implications for Ocwen’s servicing of loans in non-agency mortgage-backed securities.
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Ruling in ACE Securities Case Confirms that Rep-and- Warrant Statute of Limitations Starts at Deal Closing

June 19, 2015
A ruling late last week by the New York Court of Appeals will likely help provide certainty to non-agency MBS issuers regarding liability from breaches of representations and warranties while limiting claims from investors. The appeals court confirmed a lower court’s ruling in ACE Securities v. DB Structured Products, determining that the statute of limitations for claims of breaches of representations and warranties starts when a deal is closed – not when a potential breach is discovered. “Representations and warranties concern...
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CFPB Blinks, Grants 2-Month Extension on TRID Effective Date

June 18, 2015
Thomas Ressler
The face-saving mechanism in the CFPB's announcement was a claim to the discovery of a legal glitch.
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Credit Score Provider Suggests Going Beyond ‘Mainstream’ Borrowers to Expand Lending Options

June 18, 2015
Brandon Ivey
VantageScore suggested that lending to "upsiders" and "minimalists" can be accomplished without increasing default risk.
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Short Takes: Fed on Interest Rates / Loan Mods Increase / Foreclosure Filings Also Increase / New MBS Backed By Old Alt A Loans

June 18, 2015
Brandon Ivey
The FOMC said it will increase rates when it sees further improvement in the labor market and inflation looks to be under control.
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Latest Imf News

  • Credit Quality of GSE Loans Improves in Fourth Quarter

  • Originations at Chase Tick Up in Fourth Quarter

  • CFPB Shift of Enforcement to DOJ Appears Unlikely Now

  • Ginnie Makes MBS Backed by eNotes Eligible for PIIT Program

More Imf News

Featured Data

  • Largest Sellers See GSE Deliveries Wane in November

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  • Bank Mortgage Repurchases Decline in Third Quarter

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More Featured Data

Featured Reports

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  • GSE Repurchase Activity: Cumulative to Second Quarter 2025 (PDF Format)

More Latest Reports

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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