When considering adjustments to G-fees for certain categories of loans, FHFA took into account the decision (also announced Friday) to enhance the eligibility standards for mortgage insurance companies. Overall, the FHFA said, the modest changes being made to the upfront G-fees are revenue neutral and will mean little or no change for Fannie Mae and Freddie Mac.
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Judge Richard Seeborg, in the U.S. District Court of Northern California, ruled that Wells Fargo had breached the terms of the settlement by using "evolving and perhaps ill-defined standards" when determining borrowers' eligibility for a loan modification, according to one report. At the same time, however, Seeborg told both sides they had had "almost no idea" what they agreed to in the settlement.
The post Judge Rules Wells Fargo Breached Terms of 2010 Mortgage Settlement appeared first on DSNews.
Bank of America originated $17 billion worth of first-lien residential mortgage loans and home equity loans in Q1, which helped the bank's net income rise to $3.4 billion for Q1. The Charlotte, North Carolina-based bank also reported a 45 percent year-over-year decline in the number of first mortgage loans serviced by its Legacy Assets unit that were 60 or more days delinquent, down to 153,000.
The post Largest Financial Firms Turn in Healthy Q1 Earnings Reports appeared first on DSNews.
What is The Short Sale Specialist Network?
We are a nationwide network of Realtors® who are specialists in helping homeowners avoid foreclosure by working a short sale. We have created this site as an outlet for our referral and training programs, as well as to provide a resource for agents around the country to network with each other and discuss tactics and strategies in order to better work short sales.
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What is the Purpose of an Appraisal?
A mortgage has many specific pieces involved in it. Obviously there is the money supplied by the lender to pay the seller for their asking price. There…Continue
Finding that Elusive Starter Home
The past few years have brought several changes in the real estate industry. The housing bust of 2006-08 led many people to either sell or walk away from their home. As the market is continuing to rebound, many investors have scooped up homes at affordable prices and are offering them as rental properties. In addition, other…Continue
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