nationalmortgage

Regulation & Compliance

• Is Financial Services Committee's #2 Democrat Toast?

  National Mortgage News | September 9

  With the 2010 elections close at hand, Democrats are at risk of losing their No. 2 lawmaker on the House Financial Services Committee.

• Moody's: YSP Ban Will Lead to Lower Mortgage Defaults

  National Mortgage News | September 9

  Mortgage brokers may be flustered by new rules limiting how much they can make on loans, but the restrictions might be a positive for all residential lenders overall.

• New Hard Money Trade Group States Priorities

  National Mortgage News | September 8

  A new trade group that caters to the 'hard money' segment of the mortgage industry has drafted a code of ethics for its members — lenders that are privately held and cater to borrowers who can't get credit elsewhere.

• MBA Asks FHFA for Assurances on GSE Servicing Rights

  National Mortgage News | September 8

  The Mortgage Bankers Association is asking the Federal Housing Finance Agency to assure lenders that their servicing contracts with the GSEs will not be repudiated in the event of their liquidation by the government.

• Roughly 55% of Bank Donations to go to GOP

  National Mortgage News | September 7

  Though Democrats scored a big political victory in passing regulatory reform, many are already paying for it as the financial services industry directs more of its contributions toward Republicans and moderates who tried to pare back the revamp.

• FHA Refi Program for Underwater Loans Unveiled

  National Mortgage News | September 7

  The Federal Housing Administration Tuesday morning officially launched a new refinancing program to aid underwater borrowers, allowing lenders to write a new government-backed mortgage where up to 10% of the original loan amount will be forgiven.