The Lede
News and Trends
ARMCO: Loan Package Documentation Defects Down; Legal/Compliance Defects Up
TRID Issues Nearly Double in 1Q
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Gerstein Fisher: New REIT Classification Could Make CRE More Accessible
First New Sector Created Since 1999
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MBANow: MBA President & CEO David Stevens on Need for Housing Policy Director
Next Administration Must 'Change Diaologue' on Housing
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MBA Chart of the Week Commercial/Multifamily Delinquency Rates, Range Since 1996
Lowest Levels in Past 20 Years
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Report: Women Better than Men at Paying Mortgages
Top Men Despite Higher Denial Rates, Higher Up-Front Costs
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MBA News
Top National News
Deutsche Bank Nearing Mortgages Settlement with U.S. Authorities: Sources
Reuters, Sept. 9, 2016--Schuetze, Arno; Kroner, Andreas
Justice Department pursuing settlement over alleged past mis-selling of mortgage-backed securities.
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Ditech Gives Rejected Loan Applicants a Second Chance
National Mortgage News, Sept. 12, 2016--Passy, Jacob
Walter Investment Management Corp. subsidiary Ditech Financial will begin to enroll a number of rejected loan applicants in a new program aimed at helping people qualify for a mortgage.
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Compliance Addressed By Mortgage Industry Experts
DS News, Sept. 12, 2016--Baer, Kendall
Mortgage servicers and other stakeholders in the mortgages space are constantly looking to address their ongoing compliance needs.
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Reinsurance Contract Important for AIG in UG Sale to Arch
National Mortgage News, Sept. 12, 2016--Finkelstein, Brad
The sale is expected to closeby early next year.
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New Rules to Ensure Mortgage Lenders, Servicers Treat Borrowers Fairly
Philadelphia Inquirer, Sept. 11, 2016--Heavens, Alan J.
Consumer Financial Protection Bureau said new rule will aid servicers and borrowers.
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MGIC Delinquencies Down by More than 20%
HousingWire, Sept. 9, 2016--Ramirez, Kelsey
Insurer reports increase in business, decrease in delinquencies.
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Foreclosure Increase Leads to Rise in Vacant Bank REO
National Mortgage News, Sept. 9, 2016--Passy, Jacob
Vacant bank-owned properties higher than year ago, says ATTOM Data Solutions.
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Two DFW Companies are Embracing Subprime Home Mortgage Business
Dallas Morning News, Sept. 8, 2016--Goldstein, Matthew (New York Times)
Caliber Home Loans, Loan Star Funds targeting less-than-perfect borrowers.
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Managing Maturing HELOC Draw Periods
Mortgage Daily, Sept. 8, 2016
Lenders need to monitor home equity lines of credit portfolios.
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New Legislation Could Forgive $23B in Flood Insurance Debt
HousingWire, Sept. 8, 2016--Ramirez, Kelsey
Rep. Maxine Waters, D-Calif., says bill would give National Flood Insurance Program a fresh start.
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Congress Set to Consider Republican Plan to Abolish Dodd-Frank
HousingWire, Sept. 8, 2016--Lane, Ben
House Financial Services Committee will debate Financial CHOICE Act next week.
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U.S. Judge Cuts Back $2 Billion Mortgage Bond Case Against UBS
Reuters, Sept. 6, 2016--Raymond, Nate; Stempel, Jonathan
Judge signaled that UBS AG could escape liability for portion of losses stemming from mortgage-backed securities sales in 2006, 2007.
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How to Navigate New Jersey’s Foreclosure Crisis
Mortgage Daily, Sept. 7, 2016--Harmon Sperling, Joy
Partner with Day Pitney LLP outlines steps mortgage servicers can take.
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Can Tom Selleck Convince Seniors Reverse Mortgages Aren’t Too Good to Be True?
AdWeek, Sept. 7, 2016--Klara, Robert
Latest good-guy pitchman for a product with an image problem.
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Selling a $5 Million, Seven-Story Basket Is No Picnic
Bloomberg, Sept. 7, 2016--Mosendz, Polly
Former headquarters of Longaberger Co. in Ohio is proving to be a tough sell, even with drastic price cuts from its $32 million construction cost.
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Of Course Women are More Likely than Men to Pay their Mortgage
HousingWire, Sept. 7, 2016--Ramirez, Kelsey
Urban Institute study proves it's high time to level the playing field.
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Ocwen Fixes Previous Settlement Failures, Faces Two New Failed Tests
HousingWire, Sept. 8, 2016--Swanson, Brena
National Mortgage Settlement monitor notes two new issues.
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Security Vulnerabilities Discovered in FHA Systems
HousingWire, Sept. 7, 2016--Lane, Ben
Watchdog review discovers weakness in government's systems.
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What to Watch Out for with Your Mortgage Servicing Company
The Street, Sept. 6, 2016--Henricks, Mark
Problems with payments head the list of consumer complaints about the companies that service home mortgages.
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Should Mortgage Servicing Be Reformed?
DS News, Sept. 6, 2016--Baer, Kendall
Housing Finance Policy Center Co-Director Laurie Goodman says, "this regime pays servicers too much for servicing performing mortgages and too little for servicing nonperforming ones."
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Over $1 Billion in Non-Performing GSE Loans Sold
Mortgage Daily, Sept. 6, 2016
Winning bidders announced on four Fannie pools.
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