Links in “Mortgage Lending”

While new qualified mortgage rules may bring stability to loan manufacturing, that stability will come at a cost. [2/18]

Tampa homeowner sues B of A and U.S. Bank alleging that the banks delayed applying extra mortgage payments until the next mortgage payment was due. [2/17]

In 2011, the 10 largest servicers were traditional banks. Today, four of the top 10 are non-banks, and that concerns Benjamin Lawsky, New York's top regulator, who said regulators should step in when necessary. [2/14]

In an online town hall with credit unions, CFPB Director Richard Cordray stresses that he does not want its rules leading to credit unions exiting the mortgage business. [2/14]

A combination of rising home values, an improving economy, and the availability of mortgage modifications has finally resulted in a decline in the percentage of Americans that are 60-days or more behind on their mortgage payments.  At the end of 2012 the mortgage delinquency rate was 5.08%.As of the end of 2013, that rate had dropped to 3.85%, which is definitely a trend in the right direction. [2/12]

The OCC’s updated booklet, “Mortgage Banking,” provides new guidance on risk by assessing mortgage banking, key aspects of risk associated with mortgage banking, and amendments to Regulation X and Regulation Z issued by the CFPB. [2/10]

The ban on unfair, abusive or deceptive acts and practices is getting heavy-duty scrutiny. See what other financial institutions are being hit with. [2/7]

Man and co-defendants recruited buyers to purchase more than 40 properties, then applied for loans on behalf of the buyers using false information, and pocketed the money for themselves. Banks lost between $2.5 million and $7 million. [2/6]

FHA steps toward industry standards and announces expanded authority for lenders to accept electronic signatures (e-signatures) on documents associated with mortgage loans including those for origination, servicing, and loss mitigation documents. [1/31]

Report highlights key problems in mortgage servicing industry including unfair practices with servicing transfers associated with modifications, improperly waiving consumer rights, poor payment processing and failing to provide correct information to consumer reporting agencies. [1/31]