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Reverse Mortgage Daily

FHFA, CFPB to Expand Largest-Ever Mortgage Data Collection

The Federal Housing Finance Agency is making a push to expand access to the nation mortgage database it has created in conjunction with the Consumer Financial Protection Bureau. 

Ocwen Freezes Future Mortgage Servicing Deals

Ocwen Financial Corp. (NYSE:OCN) is putting mortgage servicing deals on hold in the wake of recent regulatory scrutiny from the state of New York, an executive said during a first quarter earnings call for Home Loan Servicing Solutions.

Wells Fargo Lays Off 323 as Mortgage Demand Drops

Wells Fargo is downsizing its mortgage division and laying off more than 300 people, the bank announced Wednesday citing a slowdown in demand for mortgages.

Home Equity Loan Demand to Rise Along with Rates

Tapping home equity is expected to become more popular as homeowners continue regaining equity lost in the recession and interest rates start to rise, according to CoreLogic’s latest The MarketPulse.

Reverse Mortgage Broker Volume Spikes, Offsetting Retail Losses

Total reverse mortgage growth rose 2.1% in February, boosted by double-digit wholesale gains and offset by retail loss, according to the latest Reverse Market Insights data.

RMS Keeps Top Spot in Reverse Mortgage Securities Rankings

Reverse Mortgage Solutions maintained the top position among the HECM-backed mortgage securities rankings for the first quarter of 2014, with a total issuance of $414.7 million during the quarter.

Realtors to FHA: Reduce Mortgage Insurance Premiums

The National Association of Realtors (NAR) is urging the Federal Housing Administration (FHA) to lower its mortgage insurance premiums, airing concerns that the high rates make home purchases “out of reach” for many qualified borrowers. 

Bankers: Mortgage Market Seriously Restricted by New Rules

Most banks believe new mortgage regulations will reduce credit availability and restrict lending, according to the American Bankers Association’s latest Real Estate Lending Survey.

OIG Says CFPB Needs Improvement on Supervision Front

The Consumer Financial Protection Bureau has plenty of room for improvement when it comes to the efficiency and effectiveness of its supervisory activities, says the Federal Reserve’s Office of the Inspector General in a new evaluation report. 

Foreclosure Starts Hit Lowest Level Since 2005

A drop in foreclosure starts and continued gains in home equity as housing prices remain stable are among the highlights of the Obama Administration’s March housing scorecard.