Headlines and Blogs from Around the Web
Companies overseeing millions of mortgage loans appear to be skirting new federal regulations and legal settlements intended to stop them profiteering at the expense of troubled homeowners.
Following very low years for volume in 2013 and 2012, it’s still unclear as to whether volume in 2014 is on pace to surpass its previous years’ totals.
Bank of America Corp. is about to learn how much it really paid for its 2008 acquisition of Countrywide Financial Corp: about $70 billion.
Homeowners, and particularly at-risk borrowers, are growing more satisfied with the companies that service their mortgages, according to J.D. Power’s annual look at the mortgage servicing industry.
Congress Wednesday fired its latest rounds in its ever-escalating battle with the Federal Reserve, as a Republican-controlled House committee passed a reform bill aimed at making the Fed more accountable and transparent.
Lenders aren’t keeping pace with a mounting backlog of applications for federal mortgage aid, placing some borrowers at increasing risk of losing their homes to foreclosure, according to an auditor’s report.
Mortgage lenders are reportedly seeing a surge in demand for super-jumbo mortgages from wealthy home buyers who are taking advantage of historically low rates, while first-time home buyers are being shot out of the market due to more stringent lending standards resulting from increased government regulation.
As part of its ongoing efforts to strengthen the economy and hold Washington accountable, the Financial Services Committee today passed several bipartisan regulatory relief bills and legislation to make the Federal Reserve more accountable and transparent.
A report on TheStreet.com Tuesday focusing on the potential for conflict of interest in Blackstone serving as an advisor to the U.S. Department of Treasury missed a much bigger story.
A federal judge has ordered Bank of America to pay nearly $1.3 billion in penalties for its role in defrauding Fannie Mae and Freddie Mac into buying thousands of defective mortgages, dealing yet another legal blow to a bank that was one of the main actors in the financial crisis.
Mortgage servicers in the United States are evolving into the next big lenders, sidestepping regulatory scrutiny to win business in a gap left by the retreat of big banks from the home-loan market.
Affordable housing advocates have been pushing hard for principal mods on mortgages backed by Fannie Mae and Freddie Mac.
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.