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Large RMBS Settlement at HSBC
The U.S. subsidiary of HSBC Holdings plc is near a large settlement with the government over its role in the issuance of pre-crisis residential mortgage-backed securities. HSBC North America Holdings Inc. and various subsidiaries have received...

Wells Fargo Mistakenly Denied Modifications
A calculation error by a tool used by Wells Fargo & Co. to determine whether a borrower would qualify for a loan modification caused borrowers to be denied -- including hundreds who lost their homes to foreclosure. The San Francisco-based...

North Dakota Seeks Waiver of Appraisal Requirements
A severe shortage of real estate appraisers has North Dakota officials making a request to waive appraisal reports, at least temporarily, on some residential loans. Banking regulators see the move as necessary. In some parts of the state, appraisal...

NV Super Lien Decisions Benefit Mortgage Firms
In August 2017, we saw the first controlling decision published by the Ninth Circuit Court of Appeals concerning the application of the Housing and Economic Recovery Act of 2008 in the context of a Nevada homeowners’ association non-judicial...

PennyMac Financial Services Inc. Profile
Last Updated August 4, 2018 1:45 PM Central  full list | other directories | bank search | SEC filings | execs | m&a | production  Company Name: PennyMac Financial Services Inc. Parent: Private National Mortgage Acceptance Company LLC...

Former Lehman Unit Fined for Fraud
Aurora Loan Services LLC will pay a $41 million fine for what the U.S. Attorney says were fraudulent loans from 2004 to 2008 under an agreement with the government announced Thursday. The mortgage company that was headquartered in Littleton,...
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N.Y. Judge Admits to Mortgage Fraud
MONROE, New York -- Former town Justice Lurlyn Winchester pleaded guilty in federal court on Thursday to two felonies stemming from charges that she lied and gave falsified documents to a mortgage lender and law enforcement officials to hide that...

Mortgage Rates Surge, Further Increases Ahead
After climbing to the highest level in more than four years, fixed mortgage rates moved even higher. Industry forecasts have long-term mortgage rates ascending another 30 basis points this year. On conforming conventional loans that were utilized...

Tiny Agency MSR Offering on Market
Mortgage servicing rights on a small portfolio of agency residential loans is being marketed for sale. The loans have a three-state concentration. Bids are being solicited for MSRs on 315 single-family loans that had a collective unpaid principal...

Risk Layering, Credit Scores Stable on RMBS
Post-crisis securitized home loans have performed well as risk layering and credit scores have remained constant. But growing cashout share is a concern. Over the past six years, the extent of risk layering on new loans that are part of residential...

Freddie’s New Business Jumps, Delinquency Drops
Monthly secondary activity at the Federal Home Loan Mortgage Corp. was sharply higher, while delinquency was sharply lower. Multifamily lates haven't changed for four months. Last month concluded with a total mortgage portfolio for $2.1051...

Radian Q1 Income, Biz Up From Yr Ago, Sink From Q4
Although earnings and new business improved from a year ago at Radian Group Inc., both were down on a quarter-over-quarter basis. The book of business expanded. In its first-quarter earnings report, the Philadelphia-based firm disclosed...

CFPB Chief’s Comments Outrage Democrats
WASHINGTON -- The nation's acting consumer financial watchdog delivered some good news and lobbying advice this week to the bankers he regulates: He would like to cut off public access to a database of consumer complaints and suggested the industry...

Dozens of FHA Mortgagees Face HUD Actions
Several dozen Federal Housing Administration mortgagees were hit with actions over the past year. Some paid large penalties, and other lost their FHA approval. The Department of Housing and Urban Development's Mortgagee Review Board took actions...

5th 3rd Earnings and Servicing Up, Home Lending Off
Quarterly earnings at Fifth Third Bancorp, including mortgage revenues, strengthened. While residential loan originations have slowed, the servicing portfolio expanded. In its first-quarter earnings report, Fifth Third disclosed $836 million in...

Refi Share of Apps Down Further as Rates Rise
As interest rates on home loans have climbed to the highest level in more than four years, the share of applications for refinances has fallen to a decade-low. Government share was diminished again. In the seven-day period that ended on April 20,...

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