Jeb Bush: Current housing and debt situation unsustainable

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance
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Items Tagged with 'mortgage servicing'

ARTICLES

RealtyTrac: Foreclosure activity jumps to highest level in 18 months

Bank repo activity fueled big drive up in foreclosures
Trey Garrison
Foreclosure filings were up 3% in April and up 9% from a year ago, pushing to an 18-month high. Here’s where it went off track.
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TransUnion: Mortgage delinquency rate drops to pre-Recession level

Strong performance by newer vintage loans fuels drive
Trey Garrison
The mortgage delinquency rate dropped below 3% in the first quarter of 2015, the first time the variable has beached that watermark since just before the recession started in late 2007. Want to know what it means? Read on.
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After nearly 35 years in business, mortgage law firm Butler & Hosch closes down

All 700 employees let go
Trey Garrison and Ben Lane
Mortgage banking industry law firm Butler & Hosch will not be open for business Monday. The company filed an Assignment for the Benefit of Creditors to Florida law firm Michael E. Moecker & Associates, an action analogous to Chapter 7 bankruptcy.
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Nationwide Biweekly claims CFPB suit contains multiple errors

“We are puzzled by the CFPB’s allegations”
Ben Lane
Nationwide Biweekly Administration, which stands accused by the Consumer Financial Protection Bureau of misrepresenting the savings that customers will achieve by using the company’s biweekly mortgage payment program, has responded to the CFPB’s charges, saying the regulator's lawsuit is full of errors.
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What to expect at MBA’s Secondary Market Conference

Thousands of mortgage professionals set to descend on NYC
Ben Lane
Thousands of mortgage and secondary market professionals are set to descend on New York City this weekend as the industry gathers for the Mortgage Bankers Association’s National Secondary Market Conference 2015. Here's the full rundown.
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Nationstar President Harold Lewis stepping down

Led company's servicing operations
Ben Lane
The leader of Nationstar Mortgage Holdings’ servicing operations is stepping down. Nationstar’s president and chief operating officer, Harold Lewis, informed the company Wednesday that he intends to retire and will resign from his positions, effective May 31.
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Chase closes massive $45B Fannie Mae MSR deal from Ocwen

Rights for more than 266,000 "high-quality" loans
Trey Garrison
Ocwen Financial's exodus from agency servicing continues. The previously announced sale of $45 billion in mortgage servicing rights from Ocwen Loan Servicing to Chase is now official. And considering recent events for Ocwen, this deal went rather smoothly.
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Urban Institute’s Goodman blames “broken” servicer rules for tight credit

Claims lenders are reluctant to lend to borrowers with “slight” risk of default
Ben Lane
Speaking recently at an Urban Institute seminar on mortgage servicing, Housing Finance Policy Center Director Laurie Goodman said that the current “broken” state of mortgage servicing regulations is partly to blame for the current tight lending environment.
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CFPB sues Nationwide Biweekly for deceptive mortgage practices

Accused of misrepresenting savings potential
Ben Lane
Nationwide Biweekly processes mortgage payments from homeowners to servicers. Now, the CFPB alleges most consumers who enroll in its "Interest Minimizer" program send halved mortgage payments every two weeks, instead of twice per month. That equals two extra, unnecessary mortgage payments a year. And, looking at the CFPB charges, it only gets worse.
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Nationstar significantly downgraded by analysts

FBR Capital, Oppenheimer and Barclays wary of nonbank’s future
Ben Lane
In the wake of posting a loss in the first quarter, several analysts are downgrading Nationstar Mortgage Holdings and questioning what the future holds for the nonbank. Here's what FBR Capital, Oppenheimer and Barclays think about Nationstar.
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