“Combining Amherst’s unparalleled leadership in mortgage-related securities and Pierpont’s liquid product-related offerings will create a scalable platform that will have an unmatched ability to capture future growth opportunities,” Pierpoint Securities CEO Mark Werner said.
The expected alignment of the QRM rules with QM standards will likely reduce uncertainty for players in the residential mortgage-backed securities sector and should also support stronger participation in jumbo loan activity by banking institutions.
With settlements on representation and warranty violations in private-label residential mortgage-backed securitizations beginning to pick up momentum, investors are becoming more comfortable with pricing the potential...
While investigating homeowners’ inability to restructure securitized mortgages, Robert Hockett, a law professor at Cornell University, developed a novel yet aggressive strategy to alleviate their deepening...
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More
The answer may be found somewhere between commandeering the entire process and “throwing it over the fence.” For lenders, paying more attention to the source of the data and information used in finalizing settlement (title searching, valuation and the like) could hold the key. This means data reporting collected in a more robust, accurate and verifiable fashion. Read More