The Need for National Mortgage Servicing Standards PDF Download
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Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing, Transportation, and Community Development
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing, Transportation, and Community Development
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 102
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Book Description
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781981712830
Category :
Languages : en
Pages : 98
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Book Description
Housing finance reform : national mortgage servicing standards : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... August 2, 2011.
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781977949578
Category :
Languages : en
Pages : 98
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Book Description
Housing finance reform : national mortgage servicing standards : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... August 2, 2011.
Author: A. Nicole Clowers
Publisher: DIANE Publishing
ISBN: 1437987192
Category : Business & Economics
Languages : en
Pages : 16
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Book Description
Statement of A. Nicole Clowers, Acting Dir., Financial Markets and Community Investment, GAO, discussing GAO's work on mortgage servicing issues. With record numbers of borrowers in default and delinquent on their loans, mortgage servicers -- entities that manage home mortgage loans -- are initiating large numbers of foreclosures throughout the country. As of Dec. 2010, an estimated 4.6% of the about 50 million first-lien mortgages outstanding were in foreclosure -- an increase of more than 370% since the first quarter of 2006. Beginning in Sept. 2010, several servicers announced that they were halting or reviewing their foreclosure proceedings throughout the country after allegations that the documents accompanying judicial foreclosures may have been inappropriately signed or notarized. The servicers subsequently resumed some foreclosure actions after reviewing their processes and procedures. However, following these allegations, some homeowners challenged the validity of foreclosure proceedings against them. Questions about whether documents for loans that were sold and packaged into mortgage-backed securities were properly handled prompted additional challenges. This statement focuses on (1) the extent to which federal laws address mortgage servicers' foreclosure procedures and federal agencies' authority to oversee servicers' activities and the extent of past oversight; (2) federal agencies' current oversight activities and future oversight plans; and (3) the potential impact of foreclosure documentation issues on homeowners, servicers, regulators, and investors in mortgage-backed securities. Table. This is a print on demand report.
Author: United States. National Credit Union Administration
Publisher:
ISBN:
Category : Banks and banking, Cooperative
Languages : en
Pages : 8
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Author:
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 38
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Book Description
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781981751976
Category :
Languages : en
Pages : 222
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Book Description
Mortgage servicing : an examination of the role of federal regulators in settlement negotiations and the future of mortgage servicing standards : joint hearing before the Subcommittee on Financial Institutions and Consumer Credit and the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House of Representatives, One Hundred Twel
Author: U.s. Government Accountability Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781973915386
Category : Credit unions
Languages : en
Pages : 68
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Book Description
" As of September 30, 2015, community lenders held about $3.1 billion in MSRs on their balance sheets. Servicing is a part of holding all mortgage loans, but an MSR generally becomes a distinct asset when the loan is sold or securitized. In response to the 2007- 2009 financial crisis, regulators have implemented new rules related to mortgage servicing and regulatory capital to protect consumers and strengthen the financial services industry. GAO was asked to review the effect of these rule changes on U.S. banks and credit unions, particularly community lenders. This report examines (1) community lenders' participation in the mortgage servicing market and potential effects of CFPB's mortgage servicing rules on them, (2) potential effects of the treatment of MSRs in capital rules on community lenders' decisions about holding or selling MSRs, and (3) the process regulators used to consider impacts of these new rules on mortgage servicing and the capital treatment of MSRs. GAO analyzed financial data, reviewed relevant laws and documents from regulatory agencies, and interviewed 16 community lenders selected based on size and volume of mortgage servicing activities, as well as industry, consumer groups, and federal officials. "
