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May 2, 2014

What We’re Hearing: Yes, FHFA Can End the GSE Conservatorships / Are ‘Liar’ Loans Staging a Comeback Thanks to a CFPB Loophole? / Ellie Mae’s Explanation on Tech Snafu Lacking / At Least Ellie is Hiring / FHFA Approves MSR Deal After IMFnews Publishes Story

By Paul Muolo

Did someone in the mortgage industry actually ask one of the GSEs recently to increase the 25 basis point servicing fee that it pays to residential servicers?

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Poll

What is it going to take to convince lenders to loosen the credit box (i.e., remove underwriting overlays)?

The recent rep and warranty changes announced by the Federal Housing Finance Agency should go a long way in protecting lenders from future buybacks and help expand mortgage credit.

17%

There won’t be any significant elimination of underwriting overlays until the government stops seeking huge mortgage-related penalties and settlements from lenders.

72%

There shouldn’t be any expansion of the mortgage credit box since looser underwriting is what caused the recent mortgage crisis.

11%

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