The federal government is well aware that mortgage lenders and industry stakeholders are frustrated by the 7% cap on second homes and investment properties that was implemented as part of a broader series of amendments to Fannie Mae and Freddie Mac‘s Preferred Stock Purchase Agreements. In a conversation with Mortgage Bankers Association President Bob Broeksmit last week, […]
This author has yet to write their bio.Meanwhile lets just say that we are proud Lindsay contributed a whooping 22015 entries.
Entries by Lindsay
On Tuesday, the Consumer Financial Protection Bureau (CFPB) announced it was looking into a situation with mortgage servicer Mr. Cooper after the company made unauthorized withdrawals from borrower accounts over the weekend due to a vendor error. “The CFPB is taking immediate action to understand and resolve the situation that has affected hundreds of thousands […]
The Consumer Financial Protection Bureau formally delayed the mandatory compliance date of the General Qualified Mortgage final rule – better known as the QM rule – from July 1, 2021 to October 1, 2022 on Tuesday. This follows the bureau’s notice of proposed rulemaking on the issue on March 4. “So many consumers have been hit […]
How did TMS Subservicing become one of the nation’s Top 10 subservicers? After years as an originator, the company took everything it learned and spent most of the last decade working to improve the servicing experience for all involved. TMS started by focusing on improving the little things, which then led to the company achieving […]
Last year, during the throes of COVID-19, I expended many words arguing that the U.S. economy would be OK despite the dark period we were in. We just needed patience. We aren’t in a housing bubble. Today we are enjoying the most remarkable comeback of the U.S. economy, which almost no one saw coming. The […]
Another partnership of asset management giants has announced a major investment in single-family rental homes. Atlas Real Estate and DivcoWest declared last week that they will spend $1 billion “acquiring and renovating homes in high-growth states including Colorado, Arizona, Idaho, Nevada, and Utah,” according to a press release. The companies entered into a joint venture […]
Source: American Banker
The controversial ultimatum United Wholesale Mortgage (UWM) issued to brokers in March constituted a violation of the Sherman Act and a series of anti-competition laws in the state of Florida, a St. Augustine-based mortgage broker alleges in a new lawsuit that seeks class-action status. Dan O’Kavage, president and founder of the O’Kavage Group, is the […]
Here it is: another article about appraisal modernization. Many are tired of hearing about how the appraisal industry needs to change and progress. But it’s true, and change is necessary. (Where would our Internet-provider world be if it hadn’t evolved beyond 9600 baud modems to gigabit fiber-optic service?) The FHFA RFI responses to appraisal modernization […]
Source: American Banker
Equity Solutions, USA provides a full range of services to help ensure lenders meet the stringent regulatory compliance requirement in today’s market. Combining the comprehensive knowledge of our skilled staff, advanced technology and a national panel of licensed and certified appraisers we ensure your business objectives are met, while keeping your time and cost in mind.