Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Existing home sales collapse 6.1% in November

Tumble comes amid record low declining rates, prices

Monday Morning Cup of Coffee: Oil’s crash will impact MBS market

Mortgage fraud is still a problem, plus the gift of housing metrics
W S

Items Tagged with 'QM'

ARTICLES

Monday Morning Cup of Coffee: The biggest drag on homebuying is...

Why the revised FHFA loan limits matter; QM’s effect on 3Q lending
Trey Garrison
QE, ZIRP, opening the credit box, big tax credits - and yet the housing recovery has still been like a tuna sandwich from a gas station -- disappointing at best. But now we may know the real reason homebuyers have held back.
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MBA’s Stevens: Final risk retention rule works for mortgage bankers

Alignment of QM and QRM helps lenders
Trey Garrison
The president and CEO of the Mortgage Bankers Association says he believes the final QRM definition issued today by the Federal Deposit Insurance Corporation will be a positive for the industry.
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Joint agency rule on risk retention goes to Fed, SEC for final adoption

Rule requires 5% skin in the game, alignment of QM and QRM
Trey Garrison
The Federal Deposit Insurance Corporation on Tuesday issued the final version of the rule that would require banks to retain at least 5% of the risk on their books when securitizing loans.
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Student debt costs housing $83B a year

Analysts: Skyrocketing higher ed costs create enormous drag
Trey Garrison
For more than a year HousingWire has been reporting on the link between high levels of student loan debt and the struggling housing recovery. Now there is a real value. And it's staggering.
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NAR fights in support of mini-correspondent lenders

Urges CFPB not to restrict access to credit
Brena Swanson
The National Association of Realtors is urging the Consumer Financial Protection Bureau not to disrupt the imperative role mini correspondent lenders play in the home-buying process for Realtors. Too many rules can impede the process as much as too little, NAR warns.
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MountainView set to invest in “non-prime” mortgages

Seeks to capitalize on underserved market
Ben Lane
“The company is responding to demand in the origination market that is not being met by lenders who have significantly tightened underwriting requirements and are adversely affecting consumers who can in fact demonstrate the ability to repay their home loans,” MountainView said in a release.
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Are black and Hispanic buyers being squeezed out of the housing market?

Post-QM credit and down payment requirements drag on minority borrowers
Trey Garrison
Black and Hispanic Americans are less likely to apply for a mortgage than any other ethnic group, and it looks like QM and ability-to-repay rules are exacerbating the problem.
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Monday Morning Cup of Coffee: Housing data storm ahead

Can housing shake off the winter, spring and now summer doldrums?
Trey Garrison
It’s a week of key housing data and metrics releases, and the industry will get to see if housing shakes off the winter, spring and now summer doldrums, or if everyone admits that 2014 has been suboptimal. Either way, HousingWire will be there first with the most.
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Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending
Ben Lane
According to new analysis from the Housing Finance Policy Center team at the Urban Institute, there has been “surprisingly little impact” on the mortgage origination numbers since QM went into effect in January.
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How hard is it to get a mortgage?

Income, credit and – yes – character all count
Trey Garrison
Is it really that hard? Yes. And no. And mostly yes again. And maybe it should be. And since January 10 when the CFPB’s Qualified Mortgage rule took effect, it is definitely harder. So yes.
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