BREAKING: Fannie Mae will buy 97% LTV mortgages

BREAKING: Fannie Mae will buy 97% LTV mortgages

Credit improvements leads to mortgage product

MBA leaders challenge federal regulators to take action

MBA: It's time for the penalty phase to end

5 things you absolutely need for the MBA convention in Las Vegas

Every one of these is totally necessary
W S

News

BREAKING: Fannie Mae will buy 97% LTV mortgages

Credit improvements leads to mortgage product
Jacob Gaffney
Fannie Mae CEO Timothy Mayopoulos said the government-sponsored enterprise will soon begin offering a 97% loan-to-value mortgage. Speaking at the Mortgage Bankers Association annual convention & expo, Mayopoulous said the government-sponsored enterprise is working “closely” with the FHFA to offer this product to all Fannie associates.
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NTC study alleges up to 490,000 homeowners face inaccurate servicing records

Faulty data can be passed from servicer to servicer
Trey Garrison
National Title Clearing found that out of 2,285,665 servicing database records that were verified against the collateral file, 24,490 loans (1.07%) had significant discrepancies.
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S&P: Nonbank earnings will be weak

Too little demand
Brena Swanson
"We believe industry earnings are likely to remain weak unless supply contracts substantially as some of the originators that expanded during the boom exit the market, or unless industry credit standards ease materially, enabling more borrowers to obtain mortgages," said Standard & Poor's credit analyst Stephen Lynch.
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Find out which four housing markets CoreLogic says are overvalued

Texas takes half the list
Trey Garrison
Market Condition Indicators designed by CoreLogic identified only four of the top 50 markets in the U.S. as currently overvalued, based on data through August 2014.
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FHFA director announces changes to open Fannie, Freddie credit boxes

Clarifies lending liability in reps & warranties, increases LTV ratios
Trey Garrison
In a speech at the Mortgage Bankers Association Convention & Expo on Monday, Federal Housing Finance Agency Director Mel Watt announced a number of policy steps aimed at increasing mortgage credit availability.
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Fannie Mae to make proprietary appraisal tool available to lenders

Lenders can use Collateral Underwriter in 2015
Ben Lane
Beginning in early 2015, Fannie will make Collateral Underwriter available to lenders as part of its industry tools package, which also includes Desktop Underwriter and Early Check.
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MBA leaders challenge federal regulators to take action

MBA: It's time for the penalty phase to end
Sarah Wheeler
"Today's lenders are paying many times over for mistakes that may have been out of their control," Bill Cosgrove, MBA chairman, said Monday at the MBA Convention in Las Vegas. "And it's the consumer who pays the ultimate price. It's time for the penalty phase to end."
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MBA names new leadership

New chairman, vice chairman, board of directors announced
Ben Lane
The days at the Mortgage Bankers Association’s annual convention and expo in Las Vegas feature quite the packed schedule. But between all the sessions and speakers, the MBA has also elected several new members of its executive leadership.
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Alleged Arkansas Realtor murderer now says Carter’s death was an accident

Lewis claims Carter was with him willingly; that he is being set up
Trey Garrison
The man accused of the kidnapping and murder of an Arkansas Realtor now says that he is innocent and that her death was an accident, alleging that the late Beverly Carter was with him willingly at the time of her death.
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CoesterVMS integrates with Mercury Vendor Management Portal

Simplifies appraisal process
Brena Swanson
CoesterVMS, an appraisal management and technology provider, has integrated its Cloud Control appraisal management service into a la mode’s Mercury Vendor Management Portal, simplifying the appraisal process for users.
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