Radian's Loan Amount Estimator enables lenders that are capping their debt-to-income ratios at 43 percent to calculate maximum loan amounts and sale prices based on the MI product selected.
Industry analysts predict that the New York ruling will limit rep-and-warrant claims on vintage non-agency MBS as well as future claims on recently issued jumbo MBS.
The nation’s three largest funders of home mortgages – Wells Fargo, JPMorgan Chase and Bank of America – this week reported hefty declines in originations during the fourth quarter of 2013. Wells originated $50 billion in residential mortgages during the fourth quarter, a stunning 60 percent decline from the same period a year earlier. The last time this perennial market leader had fundings this low was in the fourth quarter of 2008 when financial markets were reeling worldwide and the U.S. housing market was in the throes of an historic collapse. But Wells’ closest competitors fared...[Includes one data chart]
According to figures compiled by Inside Mortgage Finance, Flagstar is the nation’s second largest wholesale/broker lender. It also has a fairly large presence in the warehouse market.
Citigroup marked up the asset value of its MSRs by 5 percent, on a sequential basis, to $2.718 billion. Compared to 4Q12, its MSRs are now worth 40 percent more - even though its overall portfolio has been shrinking in size.
It’s likely that little in the way of money is changing hands on the deal. By selling the MSRs to Fannie, Citi is also settling the payment of “compensatory” fee claims the GSE is owed by the bank.
Specifically, the CFPB is seeking comment on what consumers find most problematic about the closing process, including errors and changes at the closing table and the involvement of third-parties.
The FHFA IG audit estimates that some 9.5 percent of claims for pre-foreclosure property inspections in 2011 and 2012 resulted in $5 million of overpayments by Fannie Mae.
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