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Nonbank Servicers Under Scrutiny

Nonbank Servicers Under Scrutiny

non banksWith the current exponential rise in nonbank servicers, the CFPB and FHFA are weighing both the consequences and positive reinforcements the new trend could have on the mortgage industry and consumers. 

Since the financial crisis, the nations’ biggest banks are …

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Lenders & Insurers Preparing To Tap VA Market

Lenders & Insurers Preparing To Tap VA Market

VA Lending Rising, Borrowers Leaving FHA; Small Lenders & Mortgage Insurers BenefitingFHA

 

Currently, veterans are the fastest growing part of the housing market, and US officials are urging private insurers to guarantee mortgages for them. VA loans have risen …

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Buyback Rules Clarified By FHFA

Buyback Rules Clarified By FHFA

Americans are currently experiencing the tightest credit market in 16 years, which lenders are blaming on penalties from being forced to ‘buyback’ loans they were issued based on false or inaccurate information.

buyback

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The US-backed companies, Fannie Mae and …

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Insurable Value

Insurable Value

insurable valueInsurable Value – “The cost of total replacement of destructible improvements to a property; may be based on replacement cost rather than market value”

 

When it comes to real estate appraisals, property valuation or land valuation is the process

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CFPB Plans To Improve Reporting Of Mortgage Application Activity

CFPB Plans To Improve Reporting Of Mortgage Application Activity

activerain.trulia.com

activerain.trulia.com

In addition to improving data quality and streamlining the reporting process, the CFPB is considering implementing SAAS to facilitate the reporting process. AppraisalPro is currently integrated with TrakLogix, an SAAS platform.

The CFPB is proactively aiming to improve reporting …

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Credit Box To Be Opened By Large Lenders

Nonprime loans help borrowers with low credit scores become homeownersThe Credit Box Opens

Since the great depression, housing starts have nearly doubled. More recently, strong investors have been buying properties in distress at a insatiable rate, driven by low house prices and strong rental demand, but as that trend …

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The CFPB Proposes New Rules and Changes to Regulation C to Apply Changes to the HMDA Required by Dodd-Frank

The CFPB Proposes New Rules and Changes to Regulation C to Apply Changes to the HMDA Required by Dodd-Frank

The CFPB’s Proposed Rules Primarily Effects How Banks Collect and Report Data

 

On August 29th, 2014, the CFPB suggested a  rule and changes to its Regulation C (Home Mortgage Disclosure) to apply changes to the HMDA

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Expectations for Mortgage Servicers and Adjustments to the CARD Act

Expectations for Mortgage Servicers and Adjustments to the CARD Act

CFPB Releases Expectations for Mortgage Servicers and Adjustments to the Card Act

Know Before You Owe - Mortgage Pain Points

Last Friday, the CFPB issued a bulletin that outlined expectations for mortgage servicers that transfer loans; it details how mortgage servicers should heed new rules protecting consumers applying …

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