Reuters, Apr. 1, 2016–Wiltermuth, Joy
Deutsche Bank and JPMorgan stripped out non-bank collateral on their latest commercial mortgage bond before it was sold to investors, winning favor with the simpler structure in a market scarred by volatility and regulatory pressures.
American Banker, Mar. 22, 2016–Aukamp, William
The author, a lawyer with Werb & Sullivan, says the mortgage regulatory burden providing a disincentive for banks to offer residential mortgage loans and for attorneys from wanting to represent lenders and borrowers in these transactions.
National Mortgage News, Mar. 22, 2016–King, Aaron
While companies continue to make three big blunders in hiring and managing third-party vendors, there are reliable ways to avoid these mistakes altogether using existing technology.
Bloomberg, Mar. 23, 2016–Scully, Matt
The Securities and Exchange Commission is looking at whether mortgage servicers are boosting profits by prematurely unleashing debt collectors on delinquent borrowers.
Detroit Free Press, Mar. 22, 2016–Tompor, Susan
Some families face foreclosures after a spouse dies, the money is tight, and the mortgage is only in the name of the deceased. ustin Wiseman, director of loan administration policy at the Mortgage Bankers Association, said situations can be complex, such as when multiple successors apply for different loan modifications the same mortgage, or when privacy issues come into play.
Minneapolis Star-Tribune, Mar. 24, 2016–Henderson, Tim
A relic of the Great Recession, zombie houses have receded in many states – but not all. They remain, and are growing in number in several states. The rate of foreclosure rose more quickly during the crisis, and stayed higher afterward, in states with lengthy court-supervised foreclosure procedures, Mortgage Bankers Association surveys of loan performance show.
National Mortgage News, Mar. 24, 2016–Collins, Brian
In a letter, House Financial Services Committee Chairman Jeb Hensarling, R-Texas, and Senate Banking Committee Chairman Richard Shelby, R-Ala., claim the Federal Housing Finance Agency and the Federal Housing Administration have a duty to maximize recoveries on defaulted mortgages.
Reuters, Mar. 24, 2015–Raymond, Nate
Credit Suisse Group AG agreed to pay more than $29 million to resolve a U.S. regulator’s claims that it sold toxic mortgage-backed securities to credit unions that later failed, according to court papers filed on Thursday.
National Mortgage Professional, Mar. 24, 2016–Hall, Phil
One-third of all home sales during 2015 were all-cash transactions, according to new data from CoreLogic. Last year’s cash sales sum was the lowest recorded since 2008 and is 13 percent below the 46.6 percent peak in January 2011.
HousingWire, Mar. 23, 2016–Swanson, Brena
TRID, aka Know Before You Owe, caused mortgage lender back office fulfillment and post-closing costs to increase by an average of $209 per loan since October 2015, STRATMOR Group reported.
