HousingWire, Feb. 28, 2020–Kathleen HowleyThe average U.S. FICO score hit a record high of 703 in 2019, driven by Americans in their 30s, as a strong labor market helped people …
Category: Top National News
JPMorgan Shifts Scores of Workers to Mortgages to Handle Boom
Bloomberg, Feb. 28, 2020–Michelle F. DavisJPMorgan Chase is shifting workers to handle an expected surge in demand for home loans as the American housing market looks forward to its strongest …
Fannie and Freddie Make Record High Contributions to Housing Trust Funds
American Banker, Feb. 27, 2020–Hannah Lang (subscription)The Federal Housing Finance Agency authorized the government-sponsored enterprises to contribute $502.2 million to two funds that help preserve and build affordable housing.https://www.americanbanker.com/news/fannie-and-freddie-to-make-record-high-contributions-to-housing-trust-funds
The Massachusetts Supreme Judicial Court Considers the Effect of State-Mandated Default Notice on the Validity of Non-Judicial Disclosures
National Law Review, Feb. 27, 2020–Andrew Glass et alK&L Gates LLP prepared an amicus brief on behalf of the American Bankers Association, the Mortgage Bankers Association, and other national and …
The Looming Concerns Servicers Might Be Ignoring
HousingWire, Feb. 27, 2020–Brena NathWrapping up the Mortgage Bankers Association’s Servicing Conference, The Money Source Chief Compliance Officer Shanya Arrington offers insights on what’s happening in the servicing space, including …
How Ginnie Mae Will Start Breaking Down a Key Issuer Concern This Year
National Mortgage News, Feb. 27, 2020–Bonnie Sinnock (subscription)Ginnie Mae’s issuers would like more than anything to see the government agency transition its mortgage-backed securities platform to loan-level functionality. And this …
Will Servicers Be Able to Better Control Costs in the Next Downturn?
National Mortgage News, Feb. 26, 2020–Bonnie Sinnock (subscription)There’s been a “decent change” in the cost to service nonperforming loans, Marina Walsh, vice president of industry analysis at the Mortgage Bankers …
End of a New Residential Subservicing Agreement to Benefit Ocwen
National Mortgage News, Feb. 26, 2020–Brad FinkelsteinThe cancellation by New Residential of a money-losing subservicing agreement should benefit Ocwen’s financial results going forward, the company said.https://www.nationalmortgagenews.com/news/end-of-a-new-residential-subservicing-agreement-to-benefit-ocwen
Non-QM Lender Citadel Bought by Investment Partners
HousingWire, Feb. 24, 2020–Ben LaneCitadel Servicing, a growing lender that specializes in non-Prime and non-Qualified Mortgage lending, known as non-QM, now has a new owner.https://www.housingwire.com/articles/non-qm-lender-citadel-bought-by-hps-investment-partners/
FHFA to Take Closer Look at FHLB Membership Rules
National Mortgage News, Feb. 24, 2020–Hannah Lang (subscription)The agency plans to conduct a review of how it regulates the 11 Federal Home Loan banks amid concerns that some companies are …