Headlines and Blogs from Around the Web
Mortgage rates moved higher at their fastest pace in more than a month today, confirming yesterday's shift in momentum.
More states are joining an attempt to reverse the dismissal of a lawsuit challenging the constitutionality of the Dodd-Frank Act and its creation of the Consumer Financial Protection Bureau.
The mortgage-refinancing boom is over. So said Tim Sloan, the chief financial officer of Wells Fargo & Co.
Wells Fargo (WFC) has lowered the minimum FICO score for borrowers applying for FHA loans to 600 from 640, and JPMorgan plans to lower LTV standards for both jumbos and conforming mortgages, reports TheStreet.
A Tampa homeowner claims he tried to pay down his mortgage principal by making extra payments, but Bank of America and US Bank delayed processing his extra payments to earn extra interest for themselves, two new lawsuits say.
New York's financial regulator on Wednesday said the explosive growth of non-bank mortgage servicers is a "troubling trend" that must be confronted "before more homeowners get hurt."
Mark Palmer of BTIG Research issued an investors note yesterday afternoon highlighting the fact that it appears Credit Suisse Group AG (ADR) is finally going to address its mortgage putback liabilities.
Remember back in November when JPMorgan reached the massive $13 billion settlement with the Justice Dept. over allegations tied to toxic mortgage-backed securities sold to investors before the housing market went kerflumpp?
Fannie Mae said today that an improvement in American's attitudes about the ease of getting a mortgage may offset a declining perception about home prices, allowing for continued if measured improvement in the housing recovery.
Los Angeles City Council member Gil Cedillo recently encouraged the city to contemplate cutting tens of millions of dollars in financial arrangements with JPMorgan Chase & Co., following a series of legal settlements that befell the banking behemoth for its sales of mortgage-backed securities in the years preceding the financial crisis.
With most metropolitan areas continuing to log strong yearly home price growth through the fourth quarter of 2013, the scale is starting to tip in certain areas in terms of affordability.
The settlements of lawsuits so far with major banks pave the way for some $16 billion in additional penalties to be paid by banks including Bank of America and Goldman Sachs Group over mortgage securities sold to government-seized housing giants Fannie Mae and Freddie Mac.
The New York Department of Financial Services (NY DFS) has requested that Ocwen Financial Corporation (Ocwen) indefinitely suspend its previously announced purchase of a mortgage servicing rights portfolio with an unpaid principal balance (UPB) of $39 billion from Wells FargoBank, N.A. However, this announcement will not affect Ocwen's current corporate and servicer ratings, according to Fitch Ratings.
Perhaps no company has more skin in the real estate game than Wells Fargo. As the country's largest mortgage originator, the bank has its pulse on the housing market.
The Justice Department (DOJ) broke the law when it settled mortgage finance market fraud allegations against JP Morgan in a headline-grabbing legal settlement last year, according to a lawsuit filed Monday by the Wall Street reform advocacy group Better Markets.
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.