Tuesday, June 28, 2011

The Serious Business of Lender Oversight

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Jun 28, 2011 8:59AM

HUD Enforcement: The Serious Business of Lender Oversight

By Brian Montgomery, former FHA Commissioner and Vice Chairman, The Collingwood Group and Karen Garner Wing, Special Advisor to The Collingwood Group and former HUD Quality Assurance Division Manager According to recent news stories, the HUD Office of Inspector General has put several lenders on notice regarding the quality of documents submitted as part of the FHA claims process. Another large FHA lender has also been accused of poor quality control involving their loan origination processes. In...

Jun 28, 2011 12:57PM

The Million Dollar Question: Have Home Prices Bottomed?

Woohoo! The April S&P/Case-Shiller Home Price Indices showed a monthly increase * in home prices for the first time in eight months today. On a month-over-month basis, the 10- and 20-City Composites were up 0.8% and 0.7% in April versus March. The chart below illustrates the annualized returns of the 10-City and the 20-City Composite Home Price Indices. In April 2011, the 10-City and 20-City Composites recorded annual declines of -3.1% and -4.0%, respectively. Oh wait a minute, there is an asterisk...


Micro News

4:54 PM:

Tomorrow's Auction Important on Several Levels.

4:06 PM:

Loan Pricing Beat Up. BestEx Teetering

3:33 PM:

Small Lenders Seek to Balance Reform Anxieties

3:18 PM:

Builders: Lower Loan Limits to Slow Housing Recovery

3:09 PM:

Mortgage Fraud Up 31% in First Quarter 2011; FCEN Says

2:06 PM:

Auction Recap: Apathy Obvious in Low Number of Bids

9:52 AM:

ECON: Consumer Confidence Continues to Decline

9:03 AM:

April Home Prices Dip, Spring Buying Helps - S&P

Around the Web

Video News

Housing Upside Surprise

Mudd Says U.S. Housing Faces a `Rough Couple Years'

Banks Keen on Jumbo Loans May Soften Blow of New Limits


Today's Comments

Adam Quinones

"From yesterday's Mortgage Rate Watch post: CURRENT GUIDANCE: As volatility continues in the secondary market, we remind rate watchers that lenders..."

Paul DeSanctis

"Great points Rob and a great read. I have been on all sides in this industry and I really feel many of the problems have grown out of disparity from within..."

Justin Kennedy

""lending should be based on rational historical charting of value trends over a historical time period. If the values begin to exceed those trends..."

Today's Q&A

Anonymous

"Is real estate tax Paid "in advance" or for the past..."

Anonymous

"I have excellent credit rating/score/history but low income,..."

Anonymous

"I stopped paying my mortgage for 9 months but it has been a year..."

Today's Forum Discussions

ClosingIn2Weeks

"I'm closing on my house in 2 weeks and i've got a rate locked at 4.875 30 yr fixed through Wells Fargo. No points no origination. Being a frequent..."

CapHillPRGirl Wilson

"I'm just really bummed and hopeful someone can explain the mortgage application process to me because I feel like the broker processing my application..."

stras phey

"Loan Scenario View All Post A Scenario Loan State: Texas Loan County: Harris Loan Type: Refinance (Rate and Term) Loan Amount: $131,000 Property Value..."