Banks were the top nine jumbo lenders, led by Wells Fargo with $41.49 billion in originations, accounting for a healthy 15.8 percent of all jumbo lending.
Specialty servicer Wingspan is expected to issue a press release this week, providing some clarity about a change of control at the company and the future of its founder...
Given the wide gap between the initially unacceptable findings and the subsequent “refresh” results, some lenders may ask the FHA to discontinue its disclosure of initially unacceptable findings.
However, the CFPB official said the no-action letters would not give a requesting entity an exemption from complying with any statutory or regulatory rules.
Analysts at Bank of America Merrill Lynch are predicting a solid fourth quarter for jumbo MBS, enough to bring the total for 2014 up to about $8.0 billion when the year is over.
The Securities and Exchange Commission’s release of a final rule setting loan-level disclosure requirements for certain structured finance products has only slightly reduced the uncertainty regarding the impact of the so-called Reg AB2 requirements. Among other issues, the SEC left parts of its initial proposal from 2010 unfinished, with no indication of if or when further action will be taken. For example, the SEC had originally proposed extending loan-level disclosure requirements to the 144A private-placement market in addition to requiring such disclosures for certain SEC-registered securities, including residential MBS, commercial MBS, ABS backed by auto loans and re-securitizations of such collateral. At the recent ABS East conference produced by Information Management Network in Miami Beach, Rolaine Bancroft, a senior special counsel at the SEC, said...
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