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FHFA’s DeMarco Predicts Five Years to New MBS Platform

March 22, 2013
Charles Wisniowski
FHFA's plan for a single MBS platform that would be managed by a new government entity separate from Fannie Mae and Freddie Mac does not mean the agency is contemplating consolidating the two GSEs at this time.
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GSEs Spent $1 Billion-Plus on Vendors Last Year?

March 18, 2013
Paul Muolo
Fannie Mae and Freddie Mac and spending a ton of money each year on outside contractors, including technology firms, attorneys and accountants.
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State Regulators Find Inaccurate Data From Lenders; Origination and Servicing Concerns

March 14, 2013
Few multistate lenders subject to reviews by state regulators submitted sufficient mortgage call report data last year, according to the Multistate Mortgage Committee. The regulators also cited lenders for origination issues and said they are working toward settlements with smaller servicers. The 2012 annual report released late last week by the MMC detailed two separate widespread data-related violations of state regulations, one involving limited scope electronic exams and the other involving a risk profiling program. The LSE exams were introduced...
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Senator Seeks DOJ Investigation of LPS, Alleges Double-Billing, More

March 11, 2013
Charles Wisniowski
Mortgage vendor Lender Processing Services continues to have robo-signing related headaches, thanks to a request from Sen. Ron Wyden of Oregon.
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Short Takes: Does IBM Have the FHFA MBS Platform Contract? / New Penn Expands its Jumbo Products / Another Subprime Capital Raise? / Stonegate Hires Former Homeward Executive

March 5, 2013
Paul Muolo
Speculation is mounting that International Business Machines may have the contract to build the new single-platform MBS unit for FHFA.
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Ocwen Says its Servicing Cost for NPLs is Dirt Cheap, India?

March 4, 2013
Paul Muolo
Ocwen's huge overseas workforce has allowed it to lower its servicing costs substantially, at least that's how it appears.
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FHFA’s DeMarco Promises Movement on Common MBS Platform in 2013, $30 Billion in Risk Sharing, and NPL Sales

March 4, 2013
Paul Muolo
It appears the GSE "common" securitization platform will happen this year.
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Yes, Subprime Lending is Finally Back / Will Fannie Post 4Q Earnings of $8 Billion? / FHA User Fees? / 17,000 FHA Loans to Hit the Auction Block / UGI Now # 1 / Wells Fargo Loses Top Regional Manager

March 1, 2013
Citadel Servicing has raised $200 million in capital to originate residential subprime mortgages. Does this mean subprime lending is "back"? Answer: yes and no.
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Feds Want Industry Input on Social Media Risk, Compliance, More

February 7, 2013
Thomas Ressler
The Federal Financial institutions Examination Council is taking a close look at social media and the risks it poses to financial institutions, including mortgage lenders.
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Nationstar, in a Bid to Diversify, Agrees to Buy Settlement Services Division From Equifax

February 6, 2013
Paul Muolo
Nationstar Mortgage has agreed to buy the settlement services unit of Equifax.
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