HUD has released its long-awaited “disparate impact” final rule, sending notification to the industry that housing policies and practices can be determined to be discriminatory not simply through their intent, but also by their effect.
GSE MBS issuance increased in January and the most likely explanation may be new, more seller-friendly repurchase policies at Fannie Mae and Freddie Mac.
Wells Fargo is contemplating selling some of its massive $1.906 trillion residential servicing portfolio while maintain a subservicing relationship with the end consumer.
David Schneider, CEO of Vericrest Financial, a fast growing servicer that is rumored to be a bidder on Ally Financial’s $122 billion of mortgage servicing rights, has left the company, sources familiar with the situation told Inside Mortgage Finance. Schneider could not be reached for comment at deadline. A spokeswoman for the company would not comment on the situation but would not deny his departure either. Schneider has been building bridges in the servicing community…
The Federal Financial institutions Examination Council is taking a close look at social media and the risks it poses to financial institutions, including mortgage lenders.
Massachusetts will not join other states in the Justice Department’s lawsuit against Standard & Poor’s, but instead will conduct its own fraud probe tied to CDO ratings.
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