The wording of the language-preference question first tells borrowers that their loan transaction is likely to be conducted in English but gives them the option of selecting one of six languages: English, Chinese, Korean, Spanish, Tagalog, and Vietnamese…
CRT deals may be popular with legislators since they “de-risk” Fannie and Freddie, but over the long haul the transactions reduce profits for the GSEs, or so critics have charged…
Joshua Rosner, managing director of Graham Fisher & Co., said his discussions with Trump officials and members of Congress suggest that the administration’s reform principles won’t be released until early next year…
With just over 4.5 million mortgage borrowers potentially affected by hurricanes Harvey and Irma, a secondary market is beginning to develop for mortgages that were originated and closed prior to the storm – but had not yet been placed into a security. According to bidders in the market, the early action focuses on loans that are “stuck” on warehouse lines. But the mortgages cannot be securitized until the property (if damaged) can be brought up to code and re-inspected ...
Some history: When GMAC imploded earlier in the decade, some of its GSE servicing rights were sold to Ocwen. Ocwen eventually sold those contracts to Nationstar.