Cornerstone Mortgage

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Robert Copeland - Broker

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     Cornerstone Mortgage     1500 Standiford Ave, Suite A1 Modesto, CA  953550

Mortgage News:
Ocwen Accused of Backdating Borrower Letters
10/21/2014 10:09 PM
cwen Financial Corp. has been accused of serious issues in its servicing practices including potentially backdating hundreds of thousands of borrower letters.....At issue are loan modification denial letters that were allegedly dated more than 30 days prior to the date they were mailed.....Ocwen spokesman David Miller of Sard Verbinnen ...Read More
Industry Applauds QRM-QM Alignment
10/21/2014 10:09 PM
A final rule on risk-retention requirements has been completed by federal regulators, and the mortgage industry is reacting favorably. The rule aligns the qualified residential mortgage definition with the Qualified Mortgage.....A final rule on credit risk retention was jointly released Tuesday by the Department of Housing and Urban Developme...Read More
Home Equity Lending Trends
10/21/2014 10:09 PM
Investor interest in revolving home-equity lines is growing as compliance burdens on closed-end home-equity products increase. One servicing system is being touted as a single solution for all types of home-equity and first lien products.....From Jan. 1 through July 31, the amount of new credit for home-equity lines of credit worked out to $6...Read More
GSEs to Lift LTVs, Lower Repurchase Uncertainty
10/21/2014 10:09 PM
A plethora of positive news about government-sponsored enterprise lending emanated today from the crème de la crème of mortgage conferences.....Among the bearers of good news was Federal Housing Finance Agency Director Melvin Watt, who spoke Monday at the Mortgage Bankers Conference in Las Vegas.....Watt acknowledged how i...Read More
Further Tightening in Ginnie Issuer Requirements
10/21/2014 10:09 PM
Just days after unveiling new minimum issuer volume requirements, the Government National Mortgage Association disclosed changes to other issuer requirements.....The Washington-based company last week advised issuers that they would be required to demonstrate participation within 18 months of their approval date.....The move is intended...Read More