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Inside Mortgage Trends

March 4, 2011

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Banks Report Drop in Repurchases During 4Q10, Expect More Losses

Banks reported a huge 41 percent drop in the volume of mortgage repurchases and indemnifications made during the fourth quarter of 2010, but most major institutions say the problem isn’t over yet. A new Inside Mortgage Trends analysis of call report data reveals that banks repurchased...[Includes three data charts] Read More

Planning Can Beat Back Buyback Demands

A lender’s best defense against mortgage repurchase requests is to take the preventive planning offensive ahead of time when underwriting or reviewing a loan approval decision, mortgage buyback experts advised during an exclusive Inside Mortgage Finance webinar. Repurchase requests – particularly from Fannie Mae and Freddie Mac – have been around... Read More

Ocwen Sheds Some MSRs to Free Up Capital

Ocwen Financial Corp. is pursuing a deal that would allow it to sell mortgage servicing rights to a new entity in order to significantly reduce the amount of capital required for such volatile assets and recommit the funds to growing its servicing business. In its recent securities filing, Ocwen revealed... Read More

Servicers in Crisis Reluctantly Embrace Technology

The mortgage servicing industry – overwhelmed by the tidal wave of foreclosures and under intense scrutiny by lawmakers and regulators – is for the most part investing more in automation tools to find solutions that will help them survive in the new business environment, report tech vendors. The consensus forming... Read More

Lenders Still Risk Averse in 2011, Experts Say

The depressed housing market isn’t likely to get much of a jump start in 2011 from lenders and investors trying to sustain production levels by relaxing the tough underwriting rules of the past few years, according to experts. Investors have very little desire to take... Read More

Where Does LMI Lending Go From Here?

The undetermined future of Fannie Mae and Freddie Mac and the “country club” underwriting standards of the past few years are huge challenges for low- and moderate-income mortgage lending that many critics say helped ignite the financial crisis. Participants at a meeting held by the Federal Deposit Insurance Corp. Advisory Committee on Economic Inclusion this week say... Read More

MISMO Rolls Out Digital Signature Guide

The Mortgage Industry Standards Maintenance Organization’s eMortgage Working Group is rolling out a number of implementation guides to facilitate the market’s move to a more electronic environment. Of the group’s newest projects is the development of an XML digital signature I-Guide specifically in Java. “MISMO has created... Read More

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