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News About Repurchase
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GSEs to Lift LTVs, Lower Repurchase Uncertainty - Announcements emerge from MBA...
framework that relieved lenders of repurchase liability after 36 months ... the elimination of automatic repurchases when a loan's ... exclusions can trigger a repurchase if a loan has
Mortgage Losses Widen at BofA - Q3 originations down 9% from Q2 | Oct. 16, 2014 | ...
After receiving $2.377 billion in new repurchase claims, total outstanding claims finished September at $24.169 billion. The consumer real estate services segment had a $6.468
Wells Fargo Mtg Originations Flat, Delinquency Up - Q3 production up 2% from Q2 | ...
A 25 percent drop from the second quarter in outstanding repurchase demands left mortgage repurchase liability at $669 million as of Sept. 30. Income from mortgage banking fell to
Mortgage Compliance Made Easier - Recent compliance offerings | Oct. 13, 2014...
In addition, the service reportedly helps lenders defend themselves against repurchase demands and litigation. The service has reps and warranties insurance coverage underwritten
GSEs Weren't Ready for New Reps & Warranties Framework - Report critical of...
While sellers had previously been liable for repurchases for the life ... contractual remedies such as repurchases," the report stated. In ... by Freddie found repurchase defects were far
Agencies, Regulators Missed Taylor Bean Red Flags - FHFA OIG issues report | Aug. ...
Bean's condition, an inability to meet repurchase demands and that it planned $300 ... even as it didn't meet its repurchase obligations. The OIG recommends that the GSEs
Goldman Agrees to $3 Billion in Repurchases - Settlement reached with FHFA | Aug. ...
Agrees to $3 Billion in Repurchases Settlement reached with ... Inc. has agreed to repurchase more than $3 billion ... paying $3.153 billion to repurchase the RMBS. The settlement agreements
Judge Rules RFC Lawsuits Can Proceed - Reps and warranties, indemnification at...
Capital LLC against some big-name lenders over repurchase demands have been allowed to proceed. Residential Funding Company LLC was among 28 ResCap-related entities to file a
PHH Production Grows as Servicing Shrinks - Q2 production up 26% from Q1 | Aug. 5,...
PHH finished the second-quarter 2014 with $86 million in unresolved repurchase requests, making a dent compared to the $116 million outstanding at the end of the first quarter.
3rd Party Reviews Better Than Reps and Warrants - Report discusses virtues of...
to fix the problems or repurchase the loans. Moody's noted, however, that reviews don't carry the degree of legal coverage that representations and warranties do. Reviews also
US Bank Lifts Loan Originations, Cuts Delinquency - Q2 production jumps 46% from...
As of the end of last month, there were $35 million in outstanding repurchase and make-whole requests. Before income taxes, the bank-holding company earned $2.1 billion, climbing
PNC Purchase Production Proliferates - Overall Q2 mortgage originations climb 37% ...
This increase was partially offset by the impact of a $2 million provision for residential mortgage repurchase obligations in the second quarter compared with a benefit of $19
BofA Home Lending Grows, Mortgage Losses Continue - Q2 mortgage originations up...
After receiving $2.438 billion in repurchase claims during the second quarter, BofA finished June with $21.712 billion in outstanding claims. The loss before income taxes from the
Wells Fargo Originations Up, Earnings Miss Record - Q2 mortgage production climbs ...
Fargo had 1,345 unresolved repurchase demands and mortgage insurance rescissions with an original loan balance of $295 million. Mortgage banking income climbed to $1.723 billion
PHH to Invest in Mortgage Business - Capital available from sale of fleet...
to $450 million in share repurchases. As much as $200 million will be utilized to re-engineer PHH Mortgage's operations and support infrastructure. The focus will be on
Fannie Makes M.I. Rescissions Easier to Resolve - Stand-in terms outlined | July...
Tuesday providing more details on the repurchase alternative of mortgage ... utilize a stand-in, repurchase the loan or provide ... this alternative to repurchase," the notice stated
GSE Loans, HAMPs Performing Best at Banks - Mortgage delinquency down at OCC...
weaker markets, and delinquent loans repurchased from investors," the report said. On the 6,078,268 government-guaranteed loans owned by the financial institutions, 30-day
Housing Rebound Seen in 2nd Half - Changing market conditions behind improved...
replace lost refinance activity and repurchase demands from Fannie Mae and Freddie Mac subside. In addition, credit access will improve as lenders become more comfortable with the
FHFA, GSEs Sued by Massachusetts - Complaint filed in state court | June 2, 2014 |...
purchase properties that would be repurchased or acquired by the original borrower. Coakley also called for FHFA to allow Fannie and Freddie to make principal reductions through
GSE Repurchase Framework Enhanced - Changes being made to reps & warranties...
GSE Repurchase Framework Enhanced Changes being ... Changes being made to repurchase requirements on government-sponsored ... Fannie also said that repurchase requests will no longer
PHH Mortgage Losses Widen as Production Diminishes - Q1 originations down 22...
March, $116 million in unresolved repurchase requests remained outstanding. The mortgage production segment saw losses climb to $60 million from $45 million in the fourth-quarter
Servicing, Staffing and Closings Down at Ocwen - Q1 originations down 33% from Q4 ...
Ocwen said that it purchased $0.549 billion in severely delinquent FHA-insured loans under a non-obligatory repurchase arrangement on Ginnie Mae securities. The loans were
Delinquency Better as US Bank Originations Worse - Q1 production declines 27...
After making $36 million in repurchase payments in the first quarter, there were $44 million in outstanding repurchase and make-whole requests as of March 31, 2014, sinking from $
HEL Business Continues Higher at BofA - Q1 mortgage originations down 57% from Q4 ...
March ended with $20.264 billion in outstanding repurchase claims. The consumer real estate services segment had a first-quarter loss of $7.0 billion before taxes, worsening from
Mortgage Originations Sink at Wells Fargo - Q1 production down 28% from Q4...
The bank-holding company finished last month with $0.799 billion in repurchase liability, slashing its liability ... 0.305 billion in repurchase demands remained unresolved. Mortgage