FHFA Clarifies Rep And Warranty Framework

"We know that the [existing] Representation and Warranty Framework did not provide enough clarity to enable lenders to understand when Fannie Mae or Freddie Mac would exercise their remedy to require repurchase of a loan," said Mel Watt, director of the FHFA.

Mounting Indicators Prove Housing 'Recovery' Illusory

While there are some signs that things are improving, in reality there are mounting indicators that another housing downturn is near.

Wingspan Lays Off Employees At Two Call Centers

"It is in the nature of our work with large financial institutions to wrap up specific contracts for services and to have brief periods of time before new contracts begin," Wingspan officials said in a statement.

IDS Reports Spike In HELOC Volume In 2014

The firm is forecasting that if volumes stay at current levels, HELOC loan doc draws this year could exceed those of 2013 by nearly 65%.

CFPB Fines Flagstar Bank $37.5 Million For Mortgage Servicing Violations

In a statement, Richard Cordray, director of the CFPB, says the action taken against Flagstar "signals a new era of enforcement to protect consumers against the cost of servicer runarounds."



Steve Horne has apparently stepped down from his role as CEO and president of Wingspan Portfolio Advisors, the special servicer that he founded in 2008. As per a company [Read More]

PERSON OF THE WEEK: Brian Lynch is founder and president of Advantage Systems, a provider of accounting software to the mortgage banking industry. MortgageOrb recently interviewed Lynch to learn [Read More]

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From The Orb

Federal regulators on Tuesday approved a final, softened version of the Qualified Residential Mortgage (QRM) rule that requires lenders to retain a 5% stake in mortgage loans that are [Read More]




Mortgage application volume increased 11.6% during the week ended Oct. 17, with most of that growth coming from a sharp rise in applications for refinances, according to the Mortgage [Read More]


In his third major speech since becoming secretary of the U.S. Department of Housing and Urban Development (HUD) in July, Julian Castro told attendees of the Mortgage Bankers Association's [Read More]


BLOG VIEW: One would think that as the nation's real estate market improves from the 2008 economic meltdown, neighborhoods would be back to normal. Unfortunately, it hasn't quite worked [Read More]


The U.S. Department of Housing and Urban Development (HUD) has awarded $38.3 million to more than 100 fair housing organizations and other nonprofits to help fight housing discrimination. The [Read More]



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