"One of the things that kept me up at night was what happens when this is all cleaned up? But the clean-up just took a lot longer than everyone thought." #mortgagenews —Dave Vida, President, LenderLive
The bankruptcy of Wingspan Portfolio Advisors epitomizes the existential crisis facing default servicing. This once-thriving sector of the mortgage industry now finds itself declining in lockstep with the drop in loan delinquencies and foreclosures.
From CFPB and TRID to QM and ATR, the barrage of new abbreviations emanating from the Dodd-Frank Act has only been matched by the enormity of the changes it made to the mortgage industry. Here are 10 ways that the landmark financial reform legislation has reshaped the mortgage industry since becoming law five years ago.
Resetting home equity lines of credit to the tune of $150 billion over the next 48 months, combined with a near-certain increase in short term interest rates over that same period, could very well be a bad situation for institutions who hold these assets. #mortgagenews
Persistence pays off. Find out how in this week's #ProducerProfile of Eric Rotner of Commerce Home Mortgage: "The owner of the first company that I worked for was an exceptionally difficult person to deal with and offered very little support. However..." #TopProducers15#mortgagenews
"I do think the claims as relate to these interests are some of the most unsympathetic claims that I have heard in my life." — Rep. John Delaney, D-Md., on #GSE shareholders' lawsuit against the #Treasury#mortgagenews
Commercial real estate lending and mortgages are banks main source of hope to beat lukewarm expectations for the earnings season that begins Tuesday.
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National Mortgage News is a weekly newspaper and daily news website covering the mortgage industry in the United States. www.NationalMortgageNews.com
National Mortgage News is the flagship publication of the SourceMedia Mortgage Group. Other group publications include Mortgage Servicing News, Mortgage Technology, Origination News. The Mortgage Group is also responsible for MortgageStats.com, a provider of mortgage lending data and analysis, and hosts numerous industry conferences and events throughout the year.