Banks will have to hit a higher mark during their 2014 stress tests now that the Fed is increasing passage requirements. Under the new guidelines, the Fed will use its own numbers to determine if a bank is well capitalized.
As the American Securitization Forum comes to a close, the private-label side of the secondary market reached a clear consensus that mortgage servicing is, in fact, really important.
The other consensus is that mortgages are going to cost more. More for borrowers, more for originators, more for servicers — and ultimately less yield for investors.
This is somewhat of a breakthrough. Mortgage servicing remained largely ignored by the secondary side for so long, and this new desire to work together is indicative of transformation.
Last June, we covered the start-up of Agire Mortgage Corp., a mortgage lender launched by industry heavy-hitters, including the former COO of New Century Mortgage Robin Cook-Auerbach, as well as former execs from GMAC-RFC and Countrywide. The company said at the time that it wanted to make a push into third-party originations via a strong technology backbone.
Getting into the TPO (third-party origination) business in June 2007? Good luck with that.
Mere stats don't tell the real story of these outstanding leaders. They represent the whole spectrum of the housing economy, from real estate agents to originators to nonprofits. They lead companies, mentor others and give back to their communities. Read on to find out how each one is inspiring..
HousingWire covered the introduction of Costco into the mortgage lending space and it made the industry nervous. Lenders openly asked each other at conferences, “Who will be next? Google, Apple?” Well, that never happened. Here's the story why, in long-form feature. Read More
From both an operational and regulatory standpoint, the industry continues to progress as new technological advancements are made and new regulations and policies are implemented. While it is important to change with the times, it is equally important to define and maintain the very essence of your company’s own core vision and values, so that you can succeed regardless of the inevitable changes the industry will undergo. Read More