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New Servicer Rules Address Disconnect in a "Broken System"

In remarks to a Mortgage Servicing Field Hearing this morning, Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), announced the release today of CFPB's final Mortgage Servicing Rules spoke and personally about the need for the new regulations. The rules set for the responsibilities of servicers to their borrowers, outlining requirements for servicers to meet in collecting payments and maintaining performing loans in their portfolios and in managing delinquent and defaulted...

Mortgage Rates Sharply Higher, Erasing Most Of The Recent Recovery

Mortgage rates shot higher on Thursday matching the quickest pace of the past several months seen at the beginning of January. Although rates didn't make it quite as high in absolute terms, much of the recent recovery was erased. In other words, we're now closer to early January's levels than we are to yesterday's levels. The move was more than sufficient to bump Best-Execution for Conventional 30yr Fixed Loans up to 3.5% from the previous 3.375%. Some borrowers may still have the same rate today...

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• The Day Ahead: Throwing More Data Against the Wall, MBS Mostly Dead

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Today's Comments

	"The HVCC expired November 2010. Lenders and Banks do not have to use AMCs. Added appraisal requirements are placed there by regulatory agencies. The appraisers..."
	"Matt, "The" best explanation for the candlestick graph I have seen, and, great commentary as usual. The pundits say the economy is back. All..."
	"What an absolute travesty; when you let the govt. infiltrate and run an entire industry (health, mortgage, etc.) you lose a little (or a lot) of your freedom..."

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