RMBS

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.

The Consumer Financial Protection Bureau (CFPB) Monday afternoon released its Loan Estimator form, which will eventually replace the good faith-estimate disclosure that borrowers receive three days after applying for a mortgage.

Bank of New York Mellon has agreed to settle a class-action lawsuit brought by investors who claimed that the company unwisely invested in a chancy investment fund.

Any attempt by municipalities to use their powers of eminent domain to seize and purchase underwater loans out of private-label MBS will face “serious legal challenges” that will take years to litigate, according to a critic of government-backed mortgage programs.

Freddie Mac on Monday said it expects to price this week its ninth so-called K multifamily securities offering for the year.

While the May prepayment report was all about Home Affordable Refinance Program (HARP) refinances, June was about the rate incentive that credit-eligible borrowers had as mortgage rates began setting successive new lows beginning in May.