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Volume 2014 - Number 7

March 28, 2014

Banks Complete Non-Agency Servicing Obligations

The monitor of the $25 billion national servicing settlement certified last week that the five participating banks completed their loss-mitigation obligations a year earlier than the three-year deadline set by the settlement. Regulators involved in the settlement continue to defend allowing the banks to complete a portion of their obligations by modifying mortgages in non-agency mortgage-backed securities. Bank of America, Citi, JPMorgan Chase, Residential Capital and Wells Fargo ...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

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No. It’s still difficult compliance/regulatory-wise.

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Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%