Housing Wire

Housing Wire

Ocwen begins settling with states to remove mortgage servicing restrictions

Back in April, more than 20 states clamped business restrictions on Ocwen Financial for alleged rampant errors with homeowners’ escrow accounts and other mortgage servicing issues. Now, five months later, Ocwen is beginning to dig its way out of from under those restrictions, but the company isn’t getting away clean. Click the headline to read more. Via:: Ocwen begins settling …

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CoreLogic: Mortgage lending just got riskier

During the second quarter this year, the risk in mortgage lending inched up as the market shifted toward an increased share of investor loans. And while mortgage risk remains at the 2001 to 2003 benchmark level, it has been increasing since 2016, and if the trend continues, could soon surpass these levels. Via:: CoreLogic: Mortgage lending just got riskier       

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Lessons from past storms should guide mortgage industry in post-storm recovery

[Expert commentary] Homeowners in Texas, Florida and Puerto Rico have returned to their homes and have begun to assess the damage caused by hurricanes Harvey, Irma and Maria. As mortgage servicers begin to address the concerns of these homeowners, they should pay heed to lessons learned from Superstorm Sandy, which damaged or destroyed more than 650,000 homes in New York, …

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Fannie Mae transfers risk on $23 billion in single-family loans

Fannie Mae announced its third credit insurance risk transfer transaction of 2017 on $23 billion in single-family loans. The GSE explained that the risk will be transferred to 17 insurers and reinsurers, a sign of growing interest in its CIRT program. Via:: Fannie Mae transfers risk on $23 billion in single-family loans       

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Optimal Blue's innovative tech development results in record growth

Optimal Blue’s significant investment in developing and deploying comprehensive secondary market automation propelled the company’s growth in the first half of 2017, netting a 21% increase in new clients. The company released a number of new enhancements to its end-to-end technology this year and also launched capabilities that integrate mortgage technology systems across the industry. Via:: Optimal Blue’s innovative tech …

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CoreVest expands into wholesale lending for real estate investors

CoreVest American Finance Lender, the lender formerly known as Colony American Finance, is expanding into wholesale lending for real estate investors. To lead the company’s expansion into wholesale lending, CoreVest hired Samuel Bjelac to serve as vice president of wholesale lending. Via:: CoreVest expands into wholesale lending for real estate investors       

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House passes bipartisan reform to encourage private flood insurance

The House of Representatives voted Thursday to pass legislation that includes a bipartisan act that encourages the creation of private flood insurance markets. While this falls outside of the broader debate to reform the National Flood Insurance Program, it addresses a key issue in flood insurance coverage. But due to the timing of the legislation, it wasn’t nearly as bipartisan …

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