Companies specializing in single-family rentals say the population of renters is growing and many of these consumers (including a number of former homeowners) are happy to rent.
A new survey provides further evidence that continuing declines in mortgage origination volume have motivated lenders to ease credit standards.
Brokers of servicing rights say the overall market remains robust, despite suggestions by Ocwen's William Erbey last week that trades had ground to a halt. Trading of seriously delinquent portfolios has slowed on concerns about increased liability.
A mediocre solution as unappetizing as that may be, in the long run, it is preferable to no solution at all in the secondary mortgage market.
Regulator Benjamin Lawsky is concerned that Hubzu, a website run by Ocwen's Alitsource affiliate, charges inflated fees "through conflicted business relationships" at the expense of mortgage investors and strapped homeowners.
Fannie and Freddie are huge in size, huge in global systemic risk, close to zero in capital, and of fully demonstrated "too big to fail" status. What is stopping the Financial Stability Oversight Council from designating them as systemically important?
As drafted, the Johnson-Crapo bill would allow big banks to originate, aggregate, and guarantee mortgages. Small lenders worry such vertically integrated companies could price them out of the business.
Mortgage applications, including requests for refinancings and for home purchase loans, rose from the previous week for the week ended April 11.
Ginnie Mae has halted the transfer of mortgage servicing rights from Bank of America to a nonbank servicer because of missing documents. The agency is asking the top servicers for an inventory of loans with missing documents.
The proposed Small Lender Mutual cooperative would be expensive for small firms to capitalize, and its securities may get inferior pricing compared to those issued by large banks and nonbanks.
Lenders are increasingly using U.S. courts to foreclose on delinquent homeowners in states where it's not required to reduce the risk of falling afoul of new protections.
Programs to help underwater borrowers with second liens are languishing and the Treasury's authority to create and fund new ones under the Troubled Asset Relief Program expired several years ago.
Ginnie Mae is declaring its reverse mortgage securitizations off-limits for a new type of product that would require the servicer to take interest rate risk.
FHA reform would serve as a major enhancement to the Johnson-Crapo proposal as it could ensure long-term viability of both the MMI and new Mortgage Insurance Fund.
The minimal staffing and low net worth of so-called mini-correspondents which critics say are really mortgage brokers in all but name could be a precursor to an uptick in bad loans.