3 quick takeaways from the mortgage conference happening right now

3 quick takeaways from the mortgage conference happening right now

Tidbits from SourceMedia Mortgage Servicing conference

Stewart Information Services 1Q earnings suffer from mortgage reductions

Posts net loss of $12.1 million

New home sales plummet 14.5% in March

Spring buying season off with a whimper
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Lending / The Ticker

OCC: Banks encouraged to help borrowers in tornado-stricken areas

Borrowers severely affected by natural disaster

tighten money

Due to the recent tornado-outbreak in the Midwest, the Office of the Comptroller of the Currency encouraged banks and federal savings associations to work with customers affected by the storms.

Natural disasters can be particularly hard on individuals, and the OCC acknowledged that efforts to alter existing loans in affected areas should not be subject to bank examiner criticism.

In responding to natural disasters, the OCC said banks should consider the following measures: waiving or reducing ATM fees, waiving late fees for early withdrawals, and restructuring borrower debt obligations. 

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