After facing some legal setbacks, investors in commercial MBS have adjusted their tactics in an effort to prevent abuses of the ability special servicers have to purchase loans out of commercial MBS.
The $638.2 million MBS follows a $788.9 million deal that Chase brought to market in August. Only a handful of MBS from other issuers this year have topped $400 million...
A lack of data standardization is holding back adoption of digital mortgage processes, according to a survey of tech vendors. Fannie Mae is urging the industry to adopt standards set by MISMO.
The number of eNotes being added to the MERS eRegistry is sharply increasing, indicating a growing use of eClosings. Some 36,000 eNotes were added in the third quarter compared with 17,000 in all of 2018.
The bank had more than 200 violations of a five-year limit for holding REO properties, according to a consent order. Citi was warned repeatedly of the violations before the OCC moved to fine the bank.
New York has set a six-year statute of limitation to bring charges under the Martin Act. The deadline issue has been a bone of contention in a court case between the state attorney general and Credit Suisse.