Mortgage News Daily, Oct. 22, 2015–Swanson, Jann
The timing of Freddie Mac CEO Donald Layton’s column indicates it was intended as a bit of a counterpoint White House officials’ remarks at the recent MBA Annual Convention.
Category: Top National News
Title Insurers Think TRID Will Hurt Business in 4Q
National Mortgage News, Oct. 22, 2015–Finkelstein, Brad
A pair of title insurers expect to suffer from TRID implementation hangover in the fourth quarter as the slowdown in mortgage applications related to implementation will affect them as well.
Ocwen Fails Four Servicing Tests But Makes Progress: Settlement Monitor
National Mortgage News, Oct. 22, 2015–Berry, Kate
Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014 but is “beginning to show progress” in fixing its problems, said Joseph A. Smith Jr., the monitor of the $25 national mortgage settlement.
Mortgage Bankers, Vendors Tired But A Little More Happy At 2015 MBA Annual
Mortgage Orb, Oct. 21, 2015–Barnard, Patrick
I just returned from the Mortgage Bankers Association’s 2015 Annual Convention and Expo held in San Diego and I must say this year’s conference was the best of the three I’ve attended.
CFPB ‘Disturbed’ By Some Vendors Lack Of Preparedness On TRID
Mortgage Orb, Oct. 22, 2015–Barnard, Patrick
In a speech during the Mortgage Bankers Association’s 2015 Annual Convention and Expo in San Diego, Consumer Financial Protection Bureau Director Richard Cordray said regulators should perhaps be paying more attention to the impact vendor errors can have on lender’s ability to comply with new regulations.
Is the Mortgage Industry Entering a New Era of Partnershp?
HousingWire, Oct. 21, 2015–Bell, Michael; Liss, Elliot
The run up to the Oct. 3 “live” date for TRID could be a case study in client-vendor relations in the mortgage industry.
Fannie, Freddie Reshaping Mortgage Market Without Congress’ Help
National Mortgage News, Oct. 20, 2015–Berry, Kate
Housing finance reform in Congress is stalled, but Fannie Mae and Freddie Mac (often under pressure from their regulator) are forming partnerships, developing new products and finding ways to share risk with the private sector to correct flaws in the housing system.
Mortgage Insurers Pursue Deeper Coverage on GSE Loans
National Mortgage News, Oct. 20, 2015–Collins, Brian
Private mortgage insurers are seeking a larger share of the credit risk on Fannie Mae and Freddie Mac-guaranteed loans.
Ginnie to Cater to Current Issuers, Not Add New Ones
National Mortgage News, Oct. 20, 2015–Finkelstein, Brad
Ginnie Mae’s limited resources are going to be focused on working with its existing issuers, especially those that are not creating new securities, according to its president, Ted Tozer.
Need a Home Mortgage? Fannie Says Forget the Pay Stubs
Wall Street Journal, Oct. 20, 2015–Light, Joe
Collecting pay stubs for a home-mortgage application has been a time-honored tradition, barring a few ill-fated years running up to the financial crisis. But if changes announced by mortgage-finance company Fannie Mae catch on, that process could go the way of the dodo.