Barclays Bank PLC has agreed to sell HomEq, a specialty servicer, to a division of Ocwen Financial for roughly $1.3 billion.
The Federal Deposit Insurance Corp. next week will begin exploring investor appetite for $1 billion worth of mostly nonperforming whole loans that belonged to the now-defunct AmTrust Bank of Cleveland, market sources told National Mortgage News.
The Agriculture Department has reopened the Rural Housing Service single-family program by offering lenders $2.5 billion of conditional loan commitments, according to Rep. Ruben Hinojosa, D-Tex.
Federal Housing Administration commissioner David Stevens urged mortgage bankers to “think a little less about your own wallets and more about integrity and responsibility” in their efforts to mold legislation to reform the nation’s financial system.
At the urging of their regulator, Fannie Mae and Freddie Mac are expanding their data collection on loans and appraisals using new uniform standards.
The Mortgage Bankers Association’s chief economist is hopeful that last week’s run-up in the Libor index could be the spark needed to light a fire under the refinancing sector.
The Senate is slated to begin debate on an emergency appropriations bill Monday afternoon that includes a provision to get the Rural Housing Service program up and running again.
