National Mortgage News, June 7, 2016–Sinnock, Bonnie
With the Consumer Financial Protection Bureau expected to clarify its TILA-RESPA integrated disclosure rules in July, one question that lenders, due diligence firms and investors look to have answered is how to remain compliant when unexpected changes come up right before a closing.
National Mortgage News, June 7, 2016–Passy, Jacob
The second mortgage is on its way back, and some lenders could have an advantage in the competition for the piggyback loan business.
Scotsman Guide, June 10, 2016–Whitman, Victor
Several major groups representing the banking industry have come out against a proposed change that would require lenders to ask borrowers their language preference when applying for the nation’s most popular home loans. The Mortgage Bankers Association is among the groups.
Mortgage News Daily, June 10, 2016–Chrisman, Rob
Are storm clouds gathering in the market for mortgage servicing rights? Some industry insiders are suggesting that it could be the perfect storm of the unintended consequences of regulation and a supply & demand mismatch.
UExpress, June 10, 2016–Sichelman, Lew
Sometimes, lenders are smart not to do business with clients whose credit scores are below 650. But, many of those with scores below that magic number are acceptable credit risks, as long as they are properly underwritten.
New York Times, June 10, 2016–Lieber, Ron
If you don’t have a reverse mortgage and don’t know anyone who does, your familiarity with the product probably comes from television commercials. So it may surprise you to learn that some community bankers are quietly offering the loans, too, bringing a kind of Main Street respectability to a product that has long lacked it.
The Hill, June 13, 2016–Stevens, David
MBA President and CEO David Stevens, CMB, said recapitalizing the GSEs without first reforming the secondary mortgage market would threaten the very housing finance system that the industry has worked so hard to sustain.
National Mortgage News, June 13, 2016–Finkelstein, Brad
Marketing and advertising compliance have always been low-hanging fruit for regulators. After all, they get the same fliers in their mail at home and see the same television and newspaper ads that regular people do.
HousingWire, June 13, 2016–Lane, Ben
When the Consumer Financial Protection Bureau began publishing consumers’ complaints against financial services companies several years ago, many of those companies and other industry observers took issue with the fact that the complaints were, in many cases, unverified and unproven. But that could be about to change, thanks to a new bill that Congress is set to consider soon.
24/7 Wall Street, June 3, 2016–Ausick, Paul
Data compiled by the Mortgage Bankers Association show a recent annual low of 39.8% of refinancings in 2014, rising to 46% in 2015. Refinancing reached an annual peak of 71.2% in 2012, when the annual average mortgage loan rate was 3.66%, according to data from Freddie Mac.
