Bank of America reportedly reaches $17 billion RMBS settlement

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?
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Items Tagged with 'Mortgage'

ARTICLES

Countrywide’s Mozilo may face lawsuit over subprime mortgages

This time prosecutors have a new weapon
Brena Swanson
Although Countrywide Financial no longer exists, co-founder Angelo Mozilo is allegedly not in the clear as prosecutors still want to hold him responsible for the company’s role in the U.S. housing bubble, according to a Bloomberg report.
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3 facts crippling California's housing recovery

Can these problems be solved in next two years?
Brena Swanson
Before the Golden State can step into its positive forecast for the next two years, it has to overcome several housing hurdles impeding its recovery.
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Home Depot: Housing finance reform is crucial

Executives pay close attention to mortgage market
Brena Swanson
Although Home Depot reported strong second-quarter earnings, it does not mean the giant home improvement store has nothing to worry about.
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Millennials better at paying their mortgages

Mortgage delinquency rate falls nearly 20%
Brena Swanson
The youngest group of mortgage borrowers posted the lowest mortgage delinquency rate, falling to 2.34%, overcoming the impact of the Great Recession.
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CFPB expresses “heightened” concern over MSR transfers

New bulletin reminds servicers of responsibilities to borrowers
Ben Lane
In the new bulletin, the CFPB said that it is reminding servicers of their responsibilities to borrowers, “in light of potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.”
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Chicago FHLB launches Ginnie Mae MBS program

Gives small banks access to secondary mortgage market
Brena Swanson
The Federal Home Loan Bank of Chicago will soon launch its new program that allows members to originate and sell government-backed loans into Ginnie Mae mortgage-backed securities.
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Affiliated Mortgage sues Envoy Mortgage for $20M

Firm accused of stealing trade secrets
Brena Swanson
Affiliated Mortgage is suing Envoy Mortgage, alleging Envoy Mortgage stole some if its key executives in an effort to put Affiliated’s correspondent lending division out of business.
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Mortgage default rate drives down household debt

Drops nine months straight
Brena Swanson
“At just above one percent, default rates remain at historical lows. Mortgage default rates have been trending down while Auto and Bank Card are a bit higher than their historical lows set in April and March,” said David Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices.
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RealtyTrac: Cash purchases disappearing from home sales

Institutional investors keep cooling down
Ben Lane
“The flurry of purchases by institutional investors and other cash buyers that kicked off two years ago when U.S. home prices hit bottom is finally showing signs of subsiding,” said Daren Blomquist, RealtyTrac vice president, noting that the U.S. median home prices bottomed out in March 2012.
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Lawmakers demand more controls on Fed bailout power

Warren, Vitter, Brown, & others lead charge to change "too big to fail" plans
Ben Lane
In the letter, the lawmakers write that the Fed’s proposed rule under Section 1101 "places no meaningful restrictions on its emergency lending powers, and in a time of crisis, invites the same sort of backdoor bailout we witnessed five years ago."
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