The sales are an attempt by HUD to stem losses from its Mutual Mortgage Insurance fund, while providing an alternative for distressed borrowers that are on the brink of foreclosure. Even though investors did not meet the reserve requirements, the agency will carry on with business as usual.
First, the Department of Housing and Urban Development told the housing industry it would not be able to endorse single-family loans if the government shuts down. Then, the agency quietly corrected the statement over the weekend, saying, yes it can.
A wide range of companies making the 2014 HW Fast50 suggests that — are you ready for this? — maybe things aren't as bad in the U.S. mortgage and housing markets as some breathless press might otherwise suggest. After all, our rankings this year include mortgage insurers, investors, loan servicers, technology specialists and dot-coms, home builders, real estate services companies, mortgage bankers and more..
Last October, HousingWire highlighted several correspondent lenders and gave a broad overview of where this division of mortgage finance was heading. We are happy to report that those lenders are still doing a robust set of business, although the road remains no less rocky. But as we said last year, at least there’s a road to begin with. Read More
As our business moves into a new era of low profitability, increased expenses, and intense regulatory scrutiny, virtually every mortgage executive needs to experiment with ways to increase productivity and CFPB compliance while reducing overall operating costs. Read More