Compliance experts are warning warehouse lenders holding eNotes of the risks they face from certain ambiguities between the Uniform Commercial Code and the Uniform Electronic Transactions Act.
It was a bravura performance for the FHA’s Mutual Mortgage Insurance Fund in fiscal 2019. The MMIF ended the year with a capital ratio of 4.8%, more than double the statutory minimum.
FHFA Director Mark Calabria: "That might be fine for a normal company, but these are companies that are in conservatorship. They’re essentially in bankruptcy.”
Better.com was founded in 2016 as Better Mortgage with an emphasis on loan origination technology and non-commissioned loan consultants. A few months back, the lender secured $160 million of additional financing.
VA lending rose to a record $65.06 billion in the third quarter of 2019 as purchase and refinancing activity surged due to a decline in interest rates. (Includes two data charts.)
A recent memo from HUD and DOJ appears to have eased the use of False Claims Act in FHA enforcement. However, compliance attorneys warned lenders not to let their guard down.
There is optimism that the forthcoming FHA annual report on the health of the Mutual Mortgage Insurance Fund will bear encouraging news, according to one analyst.