Jonathan Macey of Yale Law School explains why the Dodd-Frank bill may not have prevented the financial crisis, but will create jobs for regulators and lawyers.Click to continue
Wednesday, February 22, 2012
Homebuilders are switching tactics and confronting head-on one of their biggest nemeses: foreclosed houses that not only lure buyers away with deeply discounted prices, but also simultaneously depress the appraisal values of newly built homes.Click to continue
Wednesday, February 22, 2012
… “Given its significant underperformance in 2011, we believe the product is as cheap to broader markets as it has been in a long time,” Mr. Lippmann, whose portfolio is heavy with subprime mortgage securities, wrote in a recent letter to investors.Click to continue
Wednesday, February 22, 2012
… • JPMorgan Chase went national with short-sale incentive offers last year, paying up to $35,000 in some cases. • Bank of America is testing incentives from $5,000 to $25,000 in Florida to see if they should be expanded to more states. The Florida program began last fall, spokesman Richard Simon says. • Wells Fargo’s [...]
Wednesday, February 22, 2012
… Instead of reporting the defects to the Federal Housing Administration, the bank saddled the agency with losses by falsely declaring the loans fit for its federal insurance program, according to a complaint filed last week by the U.S. Attorney’s Office in Manhattan. Citigroup agreed to pay $158.3 million to settle the claims and admitted [...]
Wednesday, February 22, 2012
Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco has issued a strategic plan for the next phase of the conservatorships of the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to Congress. The plan builds on DeMarco’s February 2010 letter to Congress on the conservatorships and sets forth objectives and steps that the FHFA is taking [...]
Wednesday, February 22, 2012
CampusMBA, the education division of the Mortgage Bankers Association (MBA), has announced that it has developed two comprehensive, instructor-led online courses to provide training for industry professionals in order to comply with emerging servicing standards. CampusMBA’s creation of the specialized courses comes as the residential mortgage servicing sector has been operating in a time of [...]
Wednesday, February 22, 2012
DocMagic Inc. has announced that it has teamed with the 315th U.S. Army Tactical Company to distribute this year’s new DocMagic Bunny "Sergeant Doc" to local children and their families. The bunny is dressed in regulation military clothing as a tribute to the men and women who serve this country and the families that eagerly [...]
Wednesday, February 22, 2012
Interbank Mortgage Company has entered the Maryland wholesale market, and has announced the addition of Brooks Bosley, current president of the Maryland Association of Mortgage Professionals (MAMP), as an account executive to open the Maryland territory. Interbank specializes in Fannie Mae conforming, high balance and DU Refi Plus. Interbank also offers very aggressively priced adjustable-rate [...]
Wednesday, February 22, 2012
Data through January 2012, released by Standard & Poor’s (S&P) Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a measure of changes in consumer credit defaults, has shown that most loan types saw a decrease in default rates during January. After four consecutive months of increasing default rates, the national composite declined to 2.16 [...]
Wednesday, February 22, 2012
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