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News About Repurchase
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Chase a Strong Jumbo Originator - Over 90,000 prime jumbo loans originated in...
Moody's, repurchase requests have been made on just nine of its jumbo mortgages. "We assess Chase's ability as above average," the report stated. "The assessment is driven by
Ginnie Issuer Settles Fraud Charges - Fraudulent repurchase by First Mortgage...
But the previously past-due loans weren't delinquent at the time of repurchase, and FMC ... which reports on repurchased loans, omitted payments ... on the repurchased loans were
MBA Chief Outlines Mortgage Industry's Challenges - David Stevens speaks at...
Mac repurchases, and guarantee fees -- more needs to be done. That is according a speech that was delivered on Monday by David H. Stevens, who is the president and chief executive
PrimeLending's Mortgage Closings, Servicing Down - Q1 production down 4% from...
Repurchase claims were trimmed from $57 million at the end of last year to $54 million at the end of the first-quarter 2016. Mortgage origination income prior to income taxes was
Flagstar Mortgage Originations Up, Servicing Slips - Q1 production up 9% from...
Flagstar's repurchase pipeline was cut to $16 million as of last month from $20 million in the fourth-quarter 2015. Earnings before income taxes jumped to $60 million from $45
Appraisal Services Technology Enhanced - Recent appraisal service offerings...
the highest potential risk of repurchase by rank-ordering the risk of over-valuation, early payment default, foreclosure and appraisal non-compliance. ValuTrac Software announced
US Bank Home Lending Dips, Assets, Servicing Up - Q1 production off 4% from prior ...
Outstanding repurchase and make-whole requests were cut to $6 million from $12 million as of year-end 2015. The report indicated that mortgage banking revenues were reduced to $
Wells Trims Size of its Mortgage Business - Q1 originations down 6% from previous ...
Repurchases outstanding were reduced to $355 million from $378 million as of Dec. 31, 2015, and have been slashed from $586 billion as of March 31, 2015. Within its mortgage
Technology Reads, Analyzes Income Documentation - Income Analyzer announced...
Analyzer addresses a primary reason for repurchase demands and errors today and also provides consistency and clarity into income calculations and decision making," Rajan Nair,
Firm Settles Allegations of Fraud FHA Payments - Lawsuit was filed in September...
government-insured mortgages to avoid repurchase liability has agreed ... contractual right to force repurchase or beyond the period ... elaborate scheme to avoid repurchases and the loss of
PrimeLending Mortgage Servicing, Annual Lending Up - Q4 originations down 16...
As of the end of 2015, there were $57 million in repurchase claims outstanding. Mortgage origination income before taxes was $47 million last year, soaring from $12 million in
GSE Repurchase Process Improved - Dispute resolution process implemented | Feb. 2,...
GSE Repurchase Process Improved Dispute resolution ... their process for resolving repurchases in a move intended ... resolution process for resolving repurchase disputes. With the new
Bigger TRID Hit at Flagstar From TPO - Q4 originations down 26% from Q3 | Jan. 26,...
December-ended amount also was up from the same point in 2014, when the balance was $0.620 billion. The repurchase pipeline, as of Dec. 31, 2015, dropped to $20 million from $30
Quarterly Drop in US Bank Home Lending, Year Up - Q4 originations down 12% from...
December 2015, mortgage repurchases and make-whole payments came to $7 million--$7 million less than in the prior quarter. Fourth-quarter income before income taxes came to just
CFPB Addresses Industry's TRID Concerns - Cordray issues letter to MBA | Dec. 30, ...
The remedies that won't be sought include repurchases. Cordray explained that a corrected Closing Disclosure can be issued after closing to correct non-numerical clerical errors.
CT Mortgage Firm Converts From Broker to Banker - Norcom Mortgage has grown from...
DeFronzo said because of the industry reaction to putbacks -- lenders had to repurchase more than $80 billion from 2011 to 2013, according to Bloomberg -- borrowers' credit is the
Fannie Relaxes LLPA, Condo and Coop Requirements - Selling guide announcement...
Loan-level price adjustments will be refunded on certain whole loans that were repurchased within 18 months of acquisition by a lender. The calculation will be based on the LLPAs
Home Lending Activity Dips at Flagstar - Q3 originations fall 7% from prior...
As of Sept. 30, the repurchase pipeline was down to $30 million from the second-quarter ended amount of $46 million. At the holding company level, the Troy, Michigan-based firm's
Highlights from Mortgage Bankers Conference - Annual event held in San Diego last ...
Also covered by the FHFA director were clarifications that help lenders be more certain about repurchase risk. Watt noted that appraisal-related representation and warranty relief
US Bank Turns up Home Lending Volume - Q3 originations rise 5% from previous...
July 1 to Sept. 30 of this year, mortgage repurchases and make-whole payments equaled $14 million. This category made a $5 million leap from the previous three-month period. The
Fannie, Freddie Ease Repurchase Policies - Changes intended to increase lending |...
Fannie, Freddie Ease Repurchase Policies Changes intended to ... The changes to their repurchase policies were made at ... defect" will require a repurchase, though an alternative might
Gov Sues 5 Firms for Fraudulent FHA Payments - Lenders allegedly hid delinquency...
Lenders allegedly hid delinquency to avoid repurchases, loss of FHA ... elaborate scheme to avoid repurchases and the loss of ... contractual right to force repurchase or beyond the period
New Penn Rated as Average Originator - Jumbo, non-QM performance ratings also...
The performance rating reflects three loans that are 60 days past due and one that was repurchased out of 1,925 jumbo ... 60 days delinquent and no repurchases out of 187 non-QM
Flagstar Mortgage Production, Servicing Grow - Q2 originations up 16% from Q1...
At $46 million as of the end of last month, the repurchase pipeline was reduced from the March-ended amount of $58 million. Company-wide, the mortgage provider reported $74
LOS Providers Address TRID - Recent LOS enhancements | July 20, 2015 | Mortgage...
Picard was quoted in the recent announcement as saying that the credit union has had no repurchase demands since implementation. In West Palm Beach, Florida, OpenClose recently