June 18, 2013
- Ellie Mae has upgraded its mortgage-management system, Encompass360, to include over 200 new features.
June 14, 2013
- Bankers defended force-placed insurance practices and dodged questions about alleged industry kickbacks and price gouging at a private but well-attended meeting hosted by the Federal Housing Finance Agency.
June 12, 2013
- A bipartisan bill to reform the mortgage finance system being crafted in the Senate has already drawn praise from a variety of stakeholders, but the effort is almost certain to meet strong resistance from House Republicans.
June 11, 2013
- U.S. Bank's incoming mortgage president argues that purchase volume will not make up for the drop in refinancing, and that some lenders will have little choice but to quit the business or pair up with a competitor.
June 10, 2013
- The FHFA has yet to post to its website any public comments related to a proposed ban on commissions and reinsurance agreements in force-placed insurance. So we're posting some obtained from key voices in the industry and government.
- The Federal Housing Finance Agency is considering reforms to force-placed insurance aimed at giving the public a better deal. So why isn't it letting the public in on its planning?
- A sales pitch from Bank of America implies that its refinancing offer is in the borrower's best interest. Never mind that it would raise the customer's interest rate and add 10 years to the overall life of the loan.
- Wells Fargo has been acquitted by a jury of giving kickbacks to a real estate firm in exchange for mortgage business.
June 5, 2013
- The fees Fannie and Freddie charge to cover credit risk on mortgages have been surging. Large segments of the market may soon be fair game for securitization without federal backing.
June 4, 2013
- Lenders and special servicers operating in Nevada may be up for an unpleasant legal surprise if the state's higher court upholds a 2012 ruling that maintains a private sale of property through receivership is basically the same as a foreclosure sale.