Deutsche Settles; Investor Requirement and Underwriting Changes

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Posted To: Pipeline Press

The mortgage world is full of acronyms. Some refer to Finance of America as “FOAM,” for example. There are new ones every year, making it hard for old-timers in lending to keep track. Speaking of which, I’m not old, but then again, does anyone ever think they are? Along those lines, if anyone is curious, the current HMDA data (another acronym) doesn’t capture any info on the borrower’s age but rest assured it will be gathered for the 2018 HMDA data reporting. Let’s hope it shows a nice range for the folks at the CFPB to see. Deutsche Bank signed a $7.2 billion settlement with the U.S. Department of Justice over its sale of mortgage securities in the run-up to the 2008 financial crisis. What will the government do when it doesn’t have this income from settlements…(read more)

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