Among the news the industry will be watching for in the coming week will be the Q4 and year-end earnings statements for Morgan Stanley and Goldman Sachs, among others.
Read More »FHA Extends Deadline for HECM Delinquencies
The Federal Housing Administration has once again extended the deadline to give servicers more time to pursue loss mitigation options.
Read More »Serious Delinquency Numbers Continue Shrinking
Fewer and fewer residential mortgage loans are seriously delinquent (90 or more days past due) as the crisis passes its seven-year anniversary. What factors are driving the continued decline?
Read More »Mortgage Incomes Down in Q4 for U.S. Bank, PNC
Both U.S. Bancorp and PNC Financial Services experienced slight declines in net income for the fourth quarter of 2015, and the results for mortgage banking revenues at both banks followed right along,
Read More »Citigroup Posts Best Yearly Income Since 2006; Wells Fargo Holds Steady
While the approaching date of December 25, 2015, meant it was beginning to look a lot like Christmas for many, for Citigroup it was beginning to look like the pre-crisis year of 2006.
Read More »Fed Will Proceed With Caution on Future Rate Increases
Boston Fed President Eric Rosengren said that while he hopes more normalization is appropriate, at the same time it is important to carefully manage risks in the economy.
Read More »Will Recent Changes Turn Around JPMorgan’s Mortgage Banking Fortunes?
Overall, the bank's earnings exceeded expectations for Q4, but the mortgage banking division posted a disappointing quarter.
Read More »Counsel’s Corner: Updated HMDA Creates Concerns Over Privacy, Increased Costs
Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Alexander Monterrubio, Regulatory Affairs Counsel with the National Association of Federal Credit Unions.
Read More »Score One Victory for U.S. Bank
Banks and other financial institutions have agreed to many multimillion and even multibillion dollar settlements following the financial crisis for their mortgage practices. This week, however, HUD ruled in favor of U.S. Bank in a complaint that alleged racial discrimination in REO property maintenance.
Read More »Freddie Mac’s Risk Sharing Initiatives Pick Up Steam as 2016 Begins
The latest STACR offering "reflects investors' positive view of the company's credit fundamentals," according to Mike Reynolds, VP of Credit Risk Transfer with Freddie Mac.
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