Mortgage Daily, Nov. 4, 2016
Quarterly home lending activity moved higher, the residential loan servicing portfolio grew larger, and employment expanded at Guild Mortgage Co.
Category: Top National News
Goldman Sachs Settles Abacus CDO Lawsuit
HousingWire, Nov. 4, 2016–Lane, Ben
ACA Financial Guaranty Corp wanted $120 million.
Ruling in Florida Could Have Implications for All Mortgage Servicers
MortgageOrb, Nov. 7, 2016–Barnard, Patrick
In effect, the court upheld a previous Florida Appellate Court ruling in Lewis Brooke Bartram v. U.S. Bank National Association that determined that when foreclosure actions are dismissed, servicers and borrowers return to their pre-foreclosure complaint status.
Navy FCU Grows Mortgage Staff, Servicing Portfolio
Mortgage Daily, Nov. 7, 2016
While there was a little upward movement in mortgage production at Navy Federal Credit Union, loan servicing and mortgage staffing jumped higher.
How to Profit With FHA 203(k) Refinance Mortgages
The Mortgage Reports, Nov. 6, 2016–Miller Peter G.
This unique mortgage lets you add financing for major home additions and improvements to your refinance loan amount.
Homeowners Facing Foreclosure Hit 9-Year Low
HousingWire, Oct. 25, 2016–Lane, Ben
Black Knight report shows only 1% of all mortgages in active foreclosure.
International Group Acquires Genworth Financial
DS News, Oct. 25, 2016–Baer, Kendall
China Oceanwide Holdings Group Co. Ltd., and Genworth Financial Inc. entered into a definitive agreement under which China Oceanwide will acquire all of Genworth’s outstanding shares for $2.7 billion in an all-cash transaction.
CFPB’s Cordray Puts Servicers on Notice Ahead of New Rules
National Mortgage News, Oct. 25, 2016–Kilgore, Austin
“In certain circumstances, we will require specific and credible plans on how their information technology systems will be upgraded,” Cordray said during a speech Tuesday at the Mortgage Bankers Association’s Annual Convention in Boston.
Fannie Provides Key Details on Relief from Loan Buybacks
National Mortgage News, Oct. 26, 2016–Sinnock, Bonnie
Fannie Mae is planning to provide relief to lenders from potential buybacks for loans in which the borrower’s income, assets and employment information have been validated through automated underwriting.
Watt Remains Mum on Capitalizing GSEs
Scotsman Guide, Oct. 25, 2016–Whitman, Victor
Federal Housing Finance Agency Director Mel Watt steered clear of a controversial proposal to recapitalize the government-sponsored enterprises Fannie Mae and Freddie Mac and also largely avoided other hot-button topics under review by the agency.