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Industry News

This Is Why Mortgage Credit Standards Have to Be Lowered

Industry News - Thu, 06/26/2014 - 14:51
Unless the industry is content to be a boutique player with a hugely smaller pool of potential borrowers, it had better emulate the Fed and ease on down the road.
Categories: Industry News

This Is Why Mortgage Credit Standards Have to Be Lowered

Industry News - Thu, 06/26/2014 - 14:51
Unless the industry is content to be a boutique player with a hugely smaller pool of potential borrowers, it had better emulate the Fed and ease on down the road.
Categories: Industry News

Mortgage Originators Can Rise to the Student-Debt Challenge

Industry News - Wed, 06/25/2014 - 16:51
It's going to become important for mortgage originators to educate prospective homeowners on actions they can take to lower their student loan payments, and thereby move them closer to homeownership.
Categories: Industry News

The QM Safe Harbor Just Became Less 'Safe'

Industry News - Tue, 06/24/2014 - 09:52
The CFPB has opened a back door by accusing a lender of engaging in unfair and deceptive acts in connection with originating loans that the borrowers could not "afford."
Categories: Industry News

The Payoff from Automating Payoffs

Industry News - Fri, 06/20/2014 - 15:29
While use of facsimile has decreased in the workplace for general business practices over the years, fax machines still remain the default delivery method for sending and receiving mortgage payoff statements.
Categories: Industry News

Dave Brat Fudges the 'Blame Fannie and Freddie' Narrative

Industry News - Thu, 06/19/2014 - 10:50
The GSEs make mortgages? Banks don't? For an economics professor who has made the causes of the housing collapse a central campaign issue, David Brat sure doesn't sweat the details.
Categories: Industry News

Will Student Loans Kill the Purchase Mortgage Market?

Industry News - Wed, 06/18/2014 - 17:57
Student loan payments can be up to 20% of a graduate's current monthly debt obligations. Based on current housing ratios, that does not leave a lot of room for mortgage payments.
Categories: Industry News

CFPB Disregards Employment Classification to Find Kickbacks

Industry News - Mon, 06/16/2014 - 16:31
The Consumer Financial Protection Bureau recognized a distinction in terms of the treatment of persons working for a company based upon their classification as employees or contractors.
Categories: Industry News

Six Takeaways from the Epic HUD/Census Report on Home Building

Industry News - Fri, 06/13/2014 - 12:26
Among the revelations: A large number of single-family homes built in 2013 weren't sold that year; single-family units, surprisingly, kept getting bigger; cash sales remain higher than before the recession.
Categories: Industry News

CFPB Leading the Way on E-Close

Industry News - Thu, 06/12/2014 - 15:05
The CFPB believes that the answer to all of these problems lies in taking the paper completely out of the transaction and closing electronically.
Categories: Industry News

Financial Institutions to Fund Big Part of $40B NYC Housing Plan

Industry News - Tue, 06/10/2014 - 14:25
Though the bulk of the ambitious Housing New York plan is intended to build or rehabilitate rentals, there are several homeownership components as well.
Categories: Industry News

Have Delinquencies Really Declined - Or Just Relocated?

Industry News - Tue, 06/10/2014 - 14:00
Previously there were a few larger institutions assuming the majority of the risk in the mortgage servicing market, but now this risk is more evenly distributed across smaller institutions.
Categories: Industry News

The Most Important Thing About Originating Non-QM Loans

Industry News - Tue, 06/10/2014 - 11:05
By obtaining a third-party opinion that provides a reasoned analysis supporting borrowers' ability to repay, a lender places itself in a substantially stronger position with respect to subsequent ATR claims.
Categories: Industry News

Why the Single-Family Rental Securitization Trend May Last

Industry News - Fri, 06/06/2014 - 15:43
Risks and headwinds abound, but if smaller investors opt to pool their properties into multi-borrower securitizations, this market could materially grow. Lingering economic factors suggest large players will remain involved.
Categories: Industry News

E-Disclosures Take Flight in the Mortgage Industry

Industry News - Thu, 06/05/2014 - 12:47
Nearly twice as many direct lenders are offering electronic disclosures to consumers now as they were only one year ago, and most of the consumers are opting to use them.
Categories: Industry News

HMDA Data Offers Clues on Discrimination Against Gays

Industry News - Wed, 06/04/2014 - 17:46
While lenders do not survey applicants on sexual orientation for their Home Mortgage Disclosure Act reports, a look at the data on same-sex couple applicants is intriguing.
Categories: Industry News

CFPB Shows No Signs of Forgetting about RESPA

Industry News - Mon, 06/02/2014 - 15:29
Real Estate Settlement Procedure Act violations cited in a recent Consumer Financial Protection Bureau action suggest technical compliance required rises in line with the aggressiveness of past or present marketing.
Categories: Industry News

Converting Disappointed Borrowers into Evangelists

Industry News - Wed, 05/28/2014 - 19:10
One of the most difficult conversions for lenders to accomplish is turning a past customer into a future customer.
Categories: Industry News

Five Best Answers to 'When Will Nonconforming Secondary Return?'

Industry News - Tue, 05/27/2014 - 16:07
It could take quarters or years. It may require fatter yields to entice investors, or move-up homebuyers in need of jumbo loans. This much is agreed upon: Nobody really knows.
Categories: Industry News

It's What You Don't Hear About the CFPB that Can Hurt You

Industry News - Tue, 05/27/2014 - 15:26
The Consumer Financial Protection Bureau last week quietly issued over $70 million in fines to entities which have been through private settlements without specifying why. Here are some likely causes.
Categories: Industry News

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