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Mortgage News Daily

Freddie Changes Student Loan Debt Calculation
Posted on Thursday October 19, 2017

Posted To: MND NewsWire

A new Bulletin from Freddie Mac makes several changes to its Seller Guide . The most impactful changes relate to the way sellers can calculate student loan debt for inclusion in the monthly payment debt-to-income ratio. Under the current policy, when a seller cannot provide the monthly payment required on a student debt from information on the borrower's credit report, it must obtain other documentation with that information to include in the monthly DTI ratio. The new guideline allows the seller to use credit report information where available, but lacking that, to assume the monthly payment is 0.5 percent of either the original loan balance or the current balance, whichever is greater. Freddie Mac says traditional student loan repayment plans provided for fully amortizing monthly payments...(read more)

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New Vendor Creations; Jumbo and No MI Products
Posted on Thursday October 19, 2017

Posted To: Pipeline Press

Yesterday I had some interesting geographic involving the United States that prompted Tony H. to send a few more items. The closest state to Africa? It’s Maine! (Quoddy Head. The largest U.S. city closest to Africa is Boston.) And if one flew directly south from their home in Hickory, NC, one would miss the entire South American mainland – the continent is that far to the east. Vendor Products and Denver Conference Exhibitions "Fundingshield, the leader in loan level wire account settlement party verification, issued an alert of an increased expectation of wire fraud this holiday season based on firm analytics, trends over the past 10 years of data, and the current rise in cyber related system breaches. "The data, clearly points to the fact that the holiday season adds to the opportunity...(read more)

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Reverse Daily Mortgage

Liberty, Reverse Mortgages Unaffected by Ocwen’s Forward Wholesale Exit
Posted on Wednesday October 18, 2017

Ocwen Financial Corporation (NYSE: OCN) has announced plans to exit the wholesale forward-mortgage industry, but a company spokesman confirms that its Liberty Home Equity Solutions arm remains unaffected. The West Palm Beach, Fla.-based company announced last week that it has reached an agreement to sell the assets related to its wholesale forward lending business, with […]

RMD Jobs: Your Weekly Peek Into Who’s Hiring in Reverse Mortgages
Posted on Wednesday October 18, 2017

Each week, Reverse Mortgage Daily gives you a look into who’s hiring — and for which positions — in the Home Equity Conversion Mortgage industry. But don’t forget that you can check out the latest and greatest posts every day of the week at our sister website, the Reverse Mortgage Daily Job Board. There you’ll […]