RMBS

CoreLogic and FICO this week released the FICO Mortgage Score Powered by CoreLogic. This new offering evaluates the traditional credit data from the national credit data repositories and the supplemental consumer credit data in the CoreLogic CoreScore.

More than 90 members of the House of Representatives are urging the Consumer Financial Protection Bureau (CFPB) to provide a legal safe harbor in the final qualified mortgage rule to protect lenders from frivolous lawsuits.

A true bottom has formed under house prices but that assumption could be challenged later this year as the share of distressed sales once again outpaces home sales during the fall and winter months, according to Wells Fargo.

Lawyers for National Credit Union Administration (NCUA) asked a federal court Tuesday to bar potentially embarrassing testimony by NCUA board members Debbie Matz and Gigi Hyland and former chief corporate examiner Kent Buckham in the civil trial over the 2009 collapse of WesCorp FCU, which is projected to cost credit unions $7 billion to resolve.

The Mortgage Bankers Association (MBA) reported a slight 2.1% decline in mortgage application activity as a slowing in refinances was partially offset by a rise in purchases. Aiding activity as well were new lows set in mortgage rates. Results were adjusted for the Fourth of July holiday.

Lenders facing legal challenges with respect to possible violations of the “ability to repay” standards in the qualified mortgage rule likely will face significant loan repurchase requests from Fannie Mae and Freddie Mac, as well as rescissions in coverage by mortgage insurers, according to the Clearing House Association (CHA).

Industry observers and regulators have taken note of Wells Fargo's dominance among the titans of the mortgage market.

Information provider CoreLogic and FICO have together launched a consumer credit risk score that is expected to improve the quality of lending decisions and increase the number of mortgage loans lenders make.

The Obama administration’s refinancing programs are reaching more GSE and Federal Housing Administration (FHA) borrowers, allowing these troubled mortgagors to take advantage of historically low mortgage rates, according to a new U.S. Department of Housing and Urban Development (HUD)/Treasury Department report.

Even before the government-controlled Ally Financial threw its mortgage division into Chapter 11 bankruptcy protection, rumors were circulating this spring that the “bank” end of the company would exit the warehouse lending arena.