Mortgage servicing employees who help troubled borrowers with loan modifications should be exempt from the licensing and registration requirements of the SAFE Act, according to a comment letter by three industry groups.
The Federal Housing Administration is extending the March 31 deadline for mortgage brokers to submit their audited financial statements by 30 days.
The Federal Housing Administration commissioner wants the nation’s largest originators to loosen their underwriting standards, allowing more minorities to qualify for government-backed single-family loans.
House Financial Services Committee chairman Barney Frank, D-Mass., is calling on the CEOs of four major banks to work with the Treasury Department and banking regulators to deal with second mortgages that have become an obstacle to modifying troubled first liens.
The mortgage industry shed 3,500 full-time workers in January, after shedding 1,900 jobs the previous month, according to new government figures.
The Federal Housing Administration is extending the March 31 deadline for mortgage brokers to submit their audited financial statements by 30 days.
The Federal Deposit Insurance Corp. is planning to extend its “safe harbor” policy past March 31 while the board of directors continues to work on new securitization standards.
