Friday, May 23, 2014

MILLIONS OF NONPERFORMING LOANS RESOLVED, MILLIONS TO GO

Millions of Nonperforming Loans Resolved,
Millions to Go


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May 14, 2014
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Millions of Nonperforming Loans Resolved, Millions to Go
Millions of Nonperforming Loans Resolved, Millions to Go
by MARK FOGARTY
There will be enough grist for the NPL mill for at least three more years, industry insiders say.
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Wells Fargo Breaks from Big-Bank Pack, Fights FHA Fraud Claims
by BLOOMBERG NEWS
Following two years in which its big-bank peers paid almost $2 billion to resolve fraud accusations by the Federal Housing Administration, Wells Fargo has decided it isn't giving up so easily.
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Fannie, Freddie Offer Lenders a 'Get Out of Putbacks Free' Card
Fannie, Freddie Offer Lenders a 'Get Out of Putbacks Free' Card
by KATE BERRY
The government-sponsored enterprises just went a long way toward encouraging lenders to make more loans to borrowers with lower credit scores.
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Contain
FHFA's Watt to Stay Out of GSE Reform Fray
FHFA's Watt to Stay Out of GSE Reform Fray
by DONNA BORAK
In a wide-ranging speech on Tuesday, new FHFA Director Mel Watt said he would not weigh in on the housing finance reform debate percolating in Congress, while also detailing what changes he plans to make at the agency, including encouraging more access to credit.
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Freddie Mac Eases Mortgage Rules to Limit Putbacks
Freddie Mac, which along with Fannie Mae has forced home lenders to buy back tens of billions of dollars of flawed mortgages, said the companies are loosening rules that made banks more cautious about extending credit.
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Freddie to Buy Out of Pools Interest-Only Loans with Faulty Data
by BONNIE SINNOCK
The buyouts will lead to prepayments of 5% or more for some holders of mortgage-backed securities. The loans were originated from 2005 to 2008, the heyday of interest-only loans.
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FHA Fleshes Out Quality Control Plans, Counseling Incentive
by MARC HOCHSTEIN
The agency is developing a new methodology for evaluating underwriting defects to give lenders a better handle on the risk posed by any given flaw in a loan file.
READ MORE »
Contain
Featured Events
Principles of Conventional Underwriting
Instructor-Guided Online Course
Wed, 14 May 2014
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Preparing for a CFPB Examination
Webinar
Thu, 29 May 2014
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Advanced FHA Underwriting
Instructor-Led Online Course
Tue, 03 Jun 2014
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Distressed Residential Mortgage Summit
NY Marriott Marquis
Wed, 18 Jun 2014 - Thu, 19 Jun 2014
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Resource Center
Enabling Transformation for the changing Banking Industry
WHITEPAPER
The Banking/Financial Industry has gone through significant changes since the economic downturn.
READ MORE »
11 Mortgage Industry Strategies to Thrive in 2014
WHITEPAPER
Success in the mortgage business has never been simple or easy, but that's especially true today.
READ MORE »
Building Brand Loyalty in Financial Services
WHITEPAPER
In an industry where brand loyalty is key, banks must work diligently to ensure top-notch service and customer outreach through every one of its channels.
READ MORE »
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