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Home | Tag Archives: Mortgage Regulation

Tag Archives: Mortgage Regulation

Stewart Continues Expansion of Capital Markets Group with Hiring of New Director

Movers & Shakers, people, Stewart Lender Services

Stewart Lender Services hired John Desmond as director of regulatory compliance, capital markets. Desmond is responsible for overseeing the compliance and regulatory aspects of operations within Stewart’s capital markets group. Desmond has more than 19 years’ mortgage experience with a particular focus on origination operations and origination-related compliance. He has an additional five years’ legal experience in commercial litigation, corporate finance, and secured transactions.

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DocMagic Addresses Compliance Woes Related to ECOA Valuation Rule

ECOA rule, technology, valuation

DocMagic, Inc., says it has a variety of solutions available that support lenders' compliance with the ECOA Valuation Rule, no matter what the lender's business rules are. Under the ECOA Valuation Rule, a creditor must provide an applicant with a copy of the appraisal and other written valuations upon completion, or three business days prior to consummation of the transaction, whichever is earlier.

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Is Mortgage Market Deconsolidation Temporary or Here to Stay?

In 1998, the top 10 mortgage lenders held around 40 percent of the market. By 2010, their share increased to nearly 80 percent; since then, it's dropped down to around 60 percent. Why the decrease? Because only five of the top 20 single-family mortgage originators in 2006 remain active today. So what's driving the big guys out--market cycles or market restructuring? And will the current trend of favoring smaller lenders and servicers last forever?

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Commentary: What’s in Store for Housing in 2014, Part 2

DSN-DS

Despite recent gains, which some of us believe are more of a mirage than an oasis, the economy still isn't creating enough good-paying full-time jobs to drive a full recovery in the housing market. At the same time, stricter lending requirements--and a lending environment likely to get more challenging before it gets easier--are the other major headwinds that could slow down housing.

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Feature: New World Order

The veterans of this business can remember when REOs ran in the neighborhood of 150,000 a year, delinquency rates were just around 4 percent, and you only needed a credit score of 620 to qualify for a prime mortgage loan. But the housing finance industry, and default servicing especially, has changed. In the cover story of it's September issue, DS News looks at the many factors--from a slew of new regulatory mandates to an altered public perception of debt obligations--that have altered the business into something far from customary.

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Feature: Where Oh Where Did My REO Go?

Where-oh-where-REO

With fewer properties entering the foreclosure process and more delinquent borrowers avoiding foreclosure, the number of foreclosed single-family homes held by lenders and government agencies has rapidly declined. In the April issue of DS News magazine, contributing writer Keith Button explored the many market drivers taking their toll on the once-strong stock of bank-owned homes.

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2013 in Review: The Consumer Financial Protection Bureau

Mortgage industry commentators may argue (and they certainly have) about the Consumer Financial Protection Bureau's (CFPB) performance over the last year, but one thing is certain: The bureau knows how to command headlines. Early this year, CFPB finally issued its long awaited Qualified Mortgage (QM) guidelines along with a slew of other finance regulations. With the future of housing finance on the line, it's no wonder readers of DSNews.com couldn't tear themselves away from the news.

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Economic Growth in U.S. to Outpace Global Progress

As we head toward the close of 2013, many wonder what the new year will bring for economic growth, what plans the Federal Reserve has for its stimulus, and how employment and the housing market will take shape. IHS Global Insight recently released its 2014 outlook, addressing these and other factors affecting the U.S. and global economies in the coming year. IHS says global economic growth will increase from 2.5 percent this year to 3.3 percent next year, with the U.S. growing 2.6 percent, up from 1.7 percent.

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Regulators Exempt Some Higher-Priced Loans from New Appraisal Rules

Federal regulators have revised new appraisal rules set to take effect in January to include exemptions for some higher-priced mortgage loans, according to a press release from six federal financial agencies. Officials described the updated exemptions as ""appropriate,"" and added loans less than $25,000, streamlined refinances, and loans secured by a manufactured home and land as exempt.

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With New Regulations, Demonstrating Compliance and Controls Is Key

The mortgage servicing industry is fielding a spate of new rules and regulations--49 mortgage reforms and 63 required rules related to consumer protection. With the regulatory intervention the industry is experiencing today, there is an increased and immediate need for system controls, certification of compliance, and information management controls--for both servicers and their outsourcing partners.

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