Giant Servicer Wants to Build FHA Portfolio

National Mortgage News, Nov. 6, 2015–Collins, Brian
While the overwhelming majority of Nationstar Mortgage Holding’s $4.9 billion in home loan originations in the third quarter were conventional loans, that will be changing soon if the company’s chief executive officer has his way.

Real Estate Shell Companies Scheme to Defraud Owners Out of Their Homes

New York Times, Nov. 7, 2015–Saul, Stephanie
White-collar criminals are employing a variety of schemes to snatch properties from their owners. Often, they use the secrecy afforded to shell companies to rent out vacated properties until they are caught or sell them to third parties.

Fannie, Freddie Fees Likely Won’t Fund New Roads

HousingWire, Nov. 5, 2015
Fees charged by Fannie Mae and Freddie Mac to guarantee loans will likely not go to pay for new roads, after the House voted overwhelmingly to remove a controversial portion of a massive transportation bill that would have used g-fees to offset the cost of the bill. The Mortgage Bankers Association praised the House action.

Fannie Mae’s Profit Halved

Wall Street Journal, Nov. 5, 2015–Dulaney, Chelsey
Fannie Mae said profit was halved in the third quarter, as declines in long-term interest rates hurt the value of the mortgage-finance company’s derivatives.

Wells Fargo Wil Pay $81.61M in Mortgage Settlement

Winston-Salem Journal (N.C.), Nov. 5, 2015–Craver, Richard
Wells Fargo & Co. will have to pay $81.6 million in remediation costs for its “repeated failure” to provide homeowners with legally required notices, the Justice Department said Thursday.

Radian Earns $70 Million in Third Quarter

HousingWire, Oct. 27, 2015–Gaffney, Jacob
Radian Group announced its net income halved from the same period last year. However, the company remains positive about its growth opportunities in the mortgage insurance business.

Why Legacy Mortgages Still Boost Foreclosure Totals

OurBroker.com, Nov. 2, 2015–Miller, Peter G.
Marina Walsh, the Vice President of Industry Analysis with the Mortgage Bankers Association, said that “legacy loans continued to account for the majority of all troubled mortgages.