Insurance Products; Trends in Servicing Sales; State’s $0 Down Payment Offer

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Posted To: Pipeline Press

“Skin in the game” is a key component for lower delinquency and foreclosure rates, as borrowers have come up with required down payments. Mortgage investors like that kind of thing. But news broke that Massachusetts has now launched a “No-Money-Down Mortgage Program.” Things are different this time than fifteen years ago, right? Right? Speaking of remembering the past, UBS has settled with New York for $230 million over 15 securitizations from 2006 to 2007. Apparently, the bank sometimes ignored the advice of its own diligence vendors in packaging and selling loans that didn’t conform to its underwriting guidelines. Servicing Servicing values can fluctuate daily based on interest rates, state foreclosure timeframes, product, maturity, risk, etc. Smaller lenders had hoped…(read more)

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