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Mortgage Crisis Watch Business and legal issues affecting: loan repurchases | mortgage-backed securities | mortgage insurance

Tag Archives: GSE

Buyback and Indemnifications: The New Dangers

On Thursday, July 31, I will be speaking as part of a panel of business professionals during a live webinar about the continuing repurchase and indemnification risk surrounding mortgage buybacks. This panel will assist mortgage professionals in determining where the greatest exposure of risk lies, and will offer some insightful tips on how best to… Continue Reading

Upcoming MBA Regulatory Compliance Conference: September 29 in Washington, D.C.

I will be a panelist at the Mortgage Bankers Association’s (MBA) upcoming Regulatory Compliance Conference 2013 in Washington, D.C. I will participate in a session on Monday, September 30 at 1.30 p.m. entitled “Addressing Repurchases in the New Rep and Warrant Model.” The session will address the latest developments involving the GSEs and FHFA, as well as private investors.  We… Continue Reading

Loan Modification and the Failure to Mitigate Damages

Freddie Mac Streamlined Modification Freddie Mac has announced the immediate implementation of its Streamlined Modification program, a no-document modification program offered to severely delinquent borrowers.  The implementation of the program, originally set to begin July 1, came six weeks earlier than expected in an effort to expedite financial relief for potentially thousands of distressed families. Under… Continue Reading

FHFA Announces Representation and Warranty Framework

Lack of Certainty Facing Lenders Last week, the Federal Housing Finance Agency (FHFA) announced a new “representation and warranty framework” for conventional loans sold or delivered to Fannie and Freddie after January 1, 2013. In a clear acknowledgment of the lack of certainty facing lenders in this era of rampant repurchase demands, the agency’s announcement… Continue Reading

Nationstar Acquires Aurora Bank Servicing Rights

Acquisition May Be of Interest to Originators/Correspondents Nationstar Mortgage LLC, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings Inc., has completed its acquisition of approximately $63.7 billion in residential mortgage servicing rights from Aurora Bank FSB (f/k/a Lehman Brothers Bank) and its wholly owned subsidiary Aurora Loan Services LLC , a subsidiary of Lehman Brothers… Continue Reading