loanDepot officially files for IPO

loanDepot officially files for IPO

Number of shares, price range to be determined

Did Sen. Corker violate SEC rules, Senate ethics by telling investors to short GSEs?

Made questionable remarks on CNBC regarding stocks

House passes bipartisan TRID grace period bill 303-121

Next comes Senate, then looming threat of veto from White House

Items Tagged with 'Federal Housing Administration'


Fifth Third to pay $85 million for faulty FHA mortgages

Bank admits to failing to self-report defective mortgages
Fifth Third Bancorp will pay $85 million as a part of settlement with the federal government over allegations that the bank failed to self-report mortgages it knew to be defective, causing millions of dollars in losses to the Department of Housing and Urban Development.
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Florida mortgage company owner gets 11 years in prison for leading massive fraud scheme

Defrauded HUD of $64 million, led to convictions of 24 individuals
The owner and operator of a Miami-area mortgage company will serve the next 11 years in prison. He was convicted for his part in a massive fraud scheme that defrauded the Department of Housing and Urban Development and the Federal Housing Administration of more than $64 million.
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Chase Mortgage CEO to CNBC: FHA loans same as "subprime lending"

“We’re not in the subprime lending business”
Kevin Watters, CEO of Chase Mortgage Banking, said in an interview with CNBC on Monday that the Federal Housing Administration’s loan requirements look an awful lot like subprime lending, and they're not in the subprime lending business. This is a bold statement given that these are the very loans that are supposed to expand the credit box to underserved borrowers.
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HUD proposes new rules for FHA loans

Restores stipulation that lenders must certify they weren’t disciplined by government
Answering questions raised by, amongst others, leading Democrats in the House and Senate, Department of Housing and Urban Development released a revision to its previously announced changes to the rules for lenders that remit loans to the Federal Housing Administration. Click here to read about how the FHA's rules are about to change.
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Parkside Lending launches super-low down payment jumbo mortgage

Begins offering 95% LTV products without mortgage insurance
Parkside Lending's latest announcement follows recent industry trends in the mortgage industry. The lender said it is expanding its jumbo product offerings to go to 95% LTV without mortgage insurance. The catch: Borrowers need 2 years of payments held in reserve.
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HUD moves to officially revise FHA lien pecking order

Obama administration moves to curb super priority liens
Echoing similar calls late last year from the Federal Housing Finance Agency to preserve the first-lien status of loans guaranteed by Fannie Mae and Freddie Mac, the Department of Housing and Urban Development announced Monday that it intends to prioritize liens created by the Federal Housing Administration. So which loans are now subordinate?
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FHA continues push for expanded credit access

Supplemental Performance Metric will give insight about lenders
Furthering a program that was initially announced in May of last year, the Federal Housing Administration announced the implementation of one of the key facets of its “Blueprint for Access,” which is designed to expand credit access to underserved borrowers. Click through for all the details.
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