How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
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Items Tagged with 'Bank of America'

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How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight
Sarah Wheeler
During one of the last panels at the MBA Annual Convention, a group of lenders was cautiously optimistic about the future, noting that while progress has been made, more clarifications are needed for a significant increase in non-QM lending.
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MBA Hall of Honor gives back to military veterans

Financial services companies benefit veterans and their families
Sarah Wheeler
The MBA conference offers a variety of interesting, smart and funny (Michael Lewis!) speakers, but my favorite presentation so far has been the Hall of Honors, where the MBA recognizes companies in our industry who give assistance to military veterans and their families.
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Looming layoffs at Bank of America signal shift in mortgage servicing

Impact already being felt throughout industry
Ben Lane
The impact of Bank of America's $16.65 billion settlement is beginning to be seen in the mortgage industry. The settlement will affect more than just the bank, the aggrieved homeowners and the government. It isn’t just the big banks that feel the pain of these settlements. It affects everyone.
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Radian: Mortgage delinquencies dropping

Book of new business increases
Jacob Gaffney
The news comes as no surprise as Monday Morning Cup of Coffee notes a Bank of America Merrill Lynch report finds business at the Federal Housing Administration, the government-backed mortgage insurance provider, is collapsing for various reasons.
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$8.5B BAC settlement one step closer to resolution

Key opponent drops objection suit
Brena Swanson
Bank of America’s $8.5 billion settlement with investors in mortgage-backed securities is another step closer to receiving final court approval, with one key opponent dropping its objections.
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Monday Morning Cup of Coffee: Love or loathe – Reverse mortgages, Holder’s legacy

Plus, a week of critical housing and mortgage finance metrics ahoy
Trey Garrison
Two things that don't engender a lot of middle ground — reverse mortgages and Attorney General Eric Holder. Plus, the top 10 homebuilders and housing/mortgage finance metrics galore — it's all in here.
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Are the days of giant mortgage cases over?

Holder’s departures signals end of housing era
Brena Swanson
Good news for banks: Attorney General Eric Holder’s departure is the beginning of the end of the Justice Department’s push to hold big banks accountable for their pre-crisis conduct.
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This chart proves mortgage credit availability isn’t improving

Isn't get worse, either
Ben Lane
“We think tight mortgage credit and weak demand for mortgage credit are key driving forces behind the slow growth recovery story and the positive technical story for securitized products,” BofAML’s Chris Flanagan, Gregory Fitter and Mao Ding said in the new Securitization Weekly Overview.
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Large lenders the first to fully open the credit box?

Fannie Mae: As competition increases, standards decrease
Brena Swanson
“Larger lenders are expecting to tap into the non-GSE-eligible and government loan market to maintain or grow their market share and offset their anticipated slowing mortgage demand as the peak spring/summer selling seasons are coming to an end,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
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Citigroup and Bank of America loosen standards for struggling borrowers

Offer mortgages with discounted rates
Brena Swanson
Both of the mega banks will start to offer mortgages at discounted interest rates as part of their new efforts to help borrowers with low incomes or subprime-credit histories.
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