Walter Investment Settles False Claim Allegations
Walter Investment Management Corp. has agreed to settle a whistleblower lawsuit filed by a former executive of its reverse mortgage business.
New Penn Rated as Average Originator
When it comes to jumbo and non-QM mortgage production, New Penn Financial LLC is considered to be an average originator.
Fewer Complaints Against Mortgage Firms
A report on the volume of complaints lodged against mortgage firms indicates that the home lending industry is making progress.
LOS Providers Enhance Compliance Capabilities
Recent updates to loan origination systems, as well as integration and collaboration between LOS developers and other service providers, promise to help home lenders maintain mortgage compliance.
Taking On TRID
The upcoming implementation of integrated disclosures required by the Truth in Lending Act and the Real Estate Settlement Procedures Act has prompted proposed safe harbor legislation. TRID compliance resources include webinars and enhanced technology.
Greater Loss Projections for Some Non-QMs
Securitized home loans that don't meet the Qualified Mortgage standard and have income documentation exceptions are expected to have greater losses.
Texas Firms Lose FHA Approval Over Bogus Fees
A pair of firms operating in the Lone Star State have lost approval to originate government-insured mortgages because of allegedly charging illegitimate fees.
Non-Agency QM Lending Standards Easing
Bank lending standards are easing on loans that meet the Qualified Mortgage classification but are not agency-eligible -- especially at larger banks. Demand has grown stronger over the past three months for both residential and commercial real estate loans.
Marketing Agreements Abandoned on RESPA Concerns
Concerns about recent regulatory interpretations of the Real Estate Settlement Procedures Act have prompted two lenders to abandon marketing services agreements.
Order Issued Against Servicer of Distressed Loans
A servicer of distressed residential loans out of North Texas has consented to an order alleging it blocked delinquent borrowers from avoiding foreclosure.