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 …
Category: Top National News
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 …
The Refinancing Process is Still Daunting, But a Little Less So Now
WTOP News, Feb. 24, 2020–Jeff ClabaughIf you are about to refinance a mortgage, be prepared to invest several hours on paperwork. But the process is not as difficult as it …
Wells Fargo CEO to Testify Before House Lawmakers in March
American Banker, Feb. 21, 2020–Brendan Pedersen (subscription)The hearing will be one of three held by the House Financial Services Committee to scrutinize the bank next month.https://www.americanbanker.com/news/wells-fargo-ceo-to-testify-before-house-lawmakers-in-march
Investors Who Let California Homes Sit Vacant Could Face Penalties
Tribune Content Agency, Feb. 21, 2020Corporations that own California properties could soon be fined for keeping homes vacant for more than three months under a proposed law to give tenants, …