Cart

Inside Mortgage Finance

May 5, 2011

View Archived Issues

Top Servicers See Further Declines in Portfolios in Early 2011, a Slightly Less Concentrated Market

Several of the top mortgage servicers in the industry reported ongoing shrinkage in their portfolios during the first quarter of 2011, according to a new Inside Mortgage Finance ranking. As a group, the top five servicers reported a 1.1 percent drop in their combined servicing operations from... [Includes one data chart] Read More

Mortgage Bankers Brace For New Product Safety Rules That May Shrink Market Even Further

An historic downturn in mortgage production that’s expected to unfold through the better part of 2012 could segue into a long-term contraction in the industry as new mortgage rules kick into gear. Emerging new rules on “qualified residential mortgages” and “qualified mortgages” resulting from... Read More

Buyback Problem is Far From Over as Closer Inspection Becomes the Standard Procedure

Although some of the pressure of repurchase demands and mortgage insurance rescissions seems to be easing, industry experts caution that lenders will be grappling with these issues for years to come. The industry isn't done yet with purchases stemming from the 2006-08 vintages, said Arthur Prieston, chairman of... Read More

Federal Housing Finance Agency Rolls Out Alignment Initiative for Freddie, Fannie Servicing

Updated guidelines for the servicing of delinquent mortgages owned or guaranteed by Fannie Mae and Freddie Mac will expedite borrower outreach, align loan modification terms and establish a “consistent schedule of performance-based incentive payments and penalties,” according to... Read More

FDIC Urges Community Banks to Improve Servicing Operations

Although community banks appeared to have fewer foreclosure processing problems and lower overall mortgage default rates, they should look at recent consent orders signed by 14 large servicers for best practices, according to a new Federal Deposit Insurance Corp. report. “Community banks fared far better than... Read More

Government Sues Deutsche Bank, MortgageIT for Alleged False Claim Offenses, Seeks Treble Damages

The Department of Justice and the Department of Housing and Urban Development this week announced a civil lawsuit against Deutsche Bank and its mortgage unit for allegedly fraudulent mortgage practices that cost the FHA millions of dollars in insurance claims and related costs. Filed in U.S. District Court for... Read More

House GOP Marks up Legislation to Rein in Nascent Consumer Financial Protection Bureau

House Republicans pushed ahead this week with legislation to bring the Consumer Financial Protection Bureau, a potential nemesis, under more control and oversight, although prospects in the Senate do not look strong. The House Financial Services Subcommittee on Financial Institutions and Consumer Credit this week approved... Read More

Another Day, Another MERS Lawsuit – Will New Leadership Mark a Change for the Utility?

A court ruling made late last month in a Michigan Court of Appeals decision further muddies the ability of Mortgage Electronic Registration Systems to initiate a foreclosure. In a split decision, the judges ruled 2-1 in favor of borrowers whose homes were foreclosed on. MERS, as mortgagee, held an interest in... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results