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Mortgages


Politics, Social Engineering Cloud GSE Debate

Kevin Villani | May 06
The federal government is now even more involved in the design, pricing, allocation and servicing of home mortgage credit than during the subprime lending debacle. Current proposals that call for government involvement would further entrench this situation.
Consumer Finance
Regulation & Reform

This Is No Time to Reduce FHA's Market Share

Brian Chappelle | May 06
Rather than worrying about carving up a depressed purchase market, policymakers should be looking for ways to ensure that creditworthy borrowers have access to homeownership.
Comments (3)
Regulation & Reform
Washington

N.Y. AG Plans New Claims vs. Banks Modeled on JPM Mortgage Suit

May 05
New York Attorney General Eric Schneiderman said he will announce new enforcement actions against major financial institutions as part of his effort to "protect New York homeowners" after calling the first such lawsuit last year a "template" for future litigation.
Consumer Finance
National/Global

Ocwen 1Q Profit Boosted by Deals

Brian Browdie | May 02
The mortgage servicer Ocwen Financial more than doubled its profit in the first quarter following a string of acquisitions that has substantially boosted its market share.
Consumer Finance
Markets

OptifiNow Debuts Service to Streamline Mortgage Paperwork

May 02
OptifiNow, a maker of mortgage lending software, is rolling out a service to streamline paperwork and ease compliance.
Consumer Finance
Technology

The Politics Behind Mel Watt's FHFA Nomination

May 01
President Obama has nominated Rep. Mel Watt, D-N.C., to lead the Federal Housing Finance Agency. Editors discuss why the move has little chance of winning Congressional approval and is emblematic of Washington's housing reform dilemma.

Related: How Watt's FHFA Nomination Helps Obama in Housing Debate

Consumer Finance
Washington

Don't Wait for Watt, Dump DeMarco Now: N.Y. AG Schneiderman

Brian Browdie | May 01
New York Attorney General Eric Schneiderman just can't wait for Edward DeMarco's reign at the Federal Housing Finance Agency to end.
Comments (1)
Consumer Finance
Washington

New Mortgage Insurer Offers Banks Increased Protection

Kate Berry | May 01
National Mortgage Insurance is upending the traditional business model by underwriting every single loan it insures and promising not to ask lenders to pay claims on defaulted loans if the borrower had made 18 months of consecutive payments.
Comments (1)
Regulation & Reform
Consumer Finance

Fix Credit Ratings Process Ahead of GSE Reform

Clifford Rossi | Apr 26
A system where ratings are assigned to a nationally recognized statistical ratings organization by an independent public utility offers the best shot at avoiding another secondary mortgage market meltdown.
Comments (1)
National/Global
Risk Management

Citi Pitches 'Offset Mortgage' as Way to Pay Off Loans Faster

Kate Berry | Apr 25
The bank hopes to capture a larger share of the home loan market by helping borrowers use the outstanding balance of existing accounts to reduce the interest paid over the life of their loan.
Comments (1)
National/Global
Retail Delivery

Wells Fargo Shareholders Reject Review of Mortgage Practices

Brian Browdie | Apr 24
The San Francisco bank, led by John Stumpf, took more heat from protestors at its annual meeting even as it defeated a call for an independent review of its mortgage modifications.
Comments (1)
Consumer Finance

Fair Lending Studies Paint Incomplete Picture

James P. Scanlan | Apr 24
Analyses only consider borrowers who were offered a loan package they were willing to accept. Applicants denied a loan and applicants who turned down loans are not considered at all.
National/Global
Regulation & Reform

Banks Halting Foreclosures to Avoid Upkeep

Kate Berry | Apr 23
The result: Hundreds of thousands of homes are being withheld from the market, raising questions about whether the recent run-up in housing prices is artificial.
Comments (1)
Regulation & Reform
Consumer Finance

Lessons from an S&L Legend

Apr 23
Following World War II, Howard F. Ahmanson turned a small thrift into the largest savings and loan corporation in the U.S. by studying the industry, centralizing lending practices and fostering a relationship between his private business and the government. Eric John Abrahamson, author of "Building Home: Howard F. Ahmanson and the Politics of the American Dream," talks about what lenders today can learn from Ahmanson's story.

Related article: Why Howard F. Ahmanson Got Into the S&L Business

Consumer Finance
Mergers & Acquisitions

How a Savings and Loan Legend Got His Start

Eric John Abrahamson | Apr 23
Ahmanson had seen men get rich by focusing on the government's priorities. Now it wanted homes and mortgages. He would build a business to meet this demand.
Comments (1)
National/Global
Regulation & Reform

In Pictures
Comments of the Week: Fair Lending Insanity; Split Chairman and CEO Roles?

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