Margin Shrinkage, Faith Schwartz, 8.5 Year High, Housing Shortage, Fewer Underwater, Relos Back?, Non-Judicial Delays, RMBS Reps ad Warrants, CFPB on Affordability, Renter Defaults


email signup          RSS News Signup          Fay Servicing          BC’s profile


Fattened Lending Margins Seen Shrinking 40% at Banks: Mortgages – Heather Perlberg and Jody Shenn -Bloomberg – … Compass Point Research and Trading LLC estimates, as banks absorb most of the costs of tumbling bond prices. … mortgage firms are accepting narrower margins as they seek to sustain demand from a shrinking pool of borrowers. … – SF Chronicle


Former Hope Now leader takes new position at CoreLogic – By Kerri Ann Panchuk – Faith Schwartz, who for the past few years has been known as executive director of the non-profit home retention program Hope Now, is joining CoreLogic as senior vice president of government solutions. – Housingwire 
Zillow: Home Values Reach 8 1/2-Year High – BY: TORY BARRINGER – Home values rose for the 15th consecutive month in January, according to Zillow’s most recent Real Estate Market Reports. … The 6.2 percent annual gain is the largest since July 2006, when home values reportedly rose 7.5 percent year-over-year. According to Zillow, the last time national home values were at this level was in June 2004. … – The M Report 

(2 charts) s the US facing a housing shortage? – Homes available for sale as well as the housing supplies measured in months are now at pre-recession levels, while household formation continues to recover (see post). This development was predicted by William Wheaton back in 2009. – Sober Look Blog

Fewer Americans are stuck in underwater mortgages – By Alejandro Lazo – Nearly 2 million Americans got out of negative equity positions as home prices rose last quarter, according to new estimates. Negative equity fell to 27.5% of all U.S. homeowners with mortgages in last year’s fourth quarter, compared with 31.1% during the same period a year earlier, according to data from real estate website Zillow.  – LA Times

Will Rising Home Prices Spur Relocations? – by

(MBA Panel) Non-judicial foreclosures get delayed for a reason – By Megan Hopkins – … The panel closed with a reminder that another huge player in the non-judicial foreclosure process continues to be the Consumer Federal Protection Bureau. “The CFPB will be the new reality for the next decade,” added Susan DeMars Milazzo, executive director at the California Mortgage Bankers Association, in an indication of potentially longer delays as more regulations come into force. … – Housingwire

RMBS rep and warrants changing investor landscape – … In Fitch’s view, the rep and warranty as well as enforcement mechanism framework established post-crisis reflects a high standard that provides a higher degree of assurance about loan origination and underwriting quality.  … The September announcement by the FHFA that it will limit repurchase dmeands for breaches of certain reps if a borrower makes consectively timely payments — 36 to be exact — has set the stage for the private label market, Fitch noted.  … – Housingwire 
Mortgage Bond Issuers May Expose Investors to Defects, Fitch Says – By Al Yoon –
Mortgage bond issuers that are relieving lenders of some potential liabilities may be exposing investors to additional risks of weak underwriting and defective loans, Fitch Ratings said in a report Wednesday – Wall Street Journal

Affordability Rules Issued by the Consumer Financial Protection Bureau (CFPB) – Jack Guttentag – … My quick reaction to the hundreds of new mortgage rules recently issued by CFPB, contained in 804 densely packed pages, is that the agency has done a creditable job in an incredibly difficult situation. The rules cover a lot of territory, but those pertaining to borrower affordability probably have attracted the most attention. This article will comment on the new affordability rules, leaving other important issues for future columns. – The Mortgage Professor 
Risk of Default for Renters Down from Year Ago, Up Quarterly – BY: ESTHER CHO – Renters across the country are less likely to default compared to a year ago, but the risk of not fulfilling lease obligations has increased on a quarterly basis, according to CoreLogic’s SafeRent Renter Applicant Risk (RAR) index report. – DS News


Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s