Union Mortgage has been losing some of its top executives over the past year. A few months back, its president and CEO Robert Eastep departed for Stonegate Mortgage…
Even if home prices fall by 10 percent, most borrowers in jumbo MBS issued in recent years will have more equity than they had at the time of origination, said Grant Bailey of Fitch Ratings.
According to an Inside Mortgage Finance analysis of loan-level data on mortgage-backed securities from the GSEs, underwriting standards on mortgages have loosened only slightly over the past year.
Ocwen's consumer council will consider issues such as principal reduction loan modifications, reducing urban blight, helping minorities and improving language access to borrowers with limited English proficiency.
Non-QM origination volume could rise above $400 billion a year if the GSEs are no longer in conservatorship. Of course, Fannie and Freddie are nowhere close to doing that...