Millions of Nonperforming Loans Resolved,
Millions to Go
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Bulletin
May 14, 2014
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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 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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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.
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Featured Events
Principles of Conventional Underwriting Instructor-Guided Online Course Wed, 14 May 2014 READ MORE »
Preparing for a CFPB Examination Webinar Thu, 29 May 2014 READ MORE »
Advanced FHA Underwriting Instructor-Led Online Course Tue, 03 Jun 2014 READ MORE »
Distressed Residential Mortgage Summit NY Marriott Marquis Wed, 18 Jun 2014 - Thu, 19 Jun 2014 READ MORE »
Resource Center
Enabling Transformation for the changing Banking Industry WHITEPAPER The Banking/Financial Industry has gone through significant changes since the economic downturn.
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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.
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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.
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