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Volume 25 - Number 6

March 17, 2014

Movers & Shakers/CFPB, IRS Team Up/Compliance Update/Looking Ahead

Movers & Shakers: Assistant Director Carroll to Depart CFPB for Wells Fargo. It looks like the name of Pete Carroll can be crossed off the list of candidates to head the common securitization platform joint venture of Fannie Mae and Freddie Mac. Carroll, who currently serves as assistant director for mortgage markets at the CFPB, has accepted a job offer from Wells Fargo, the nationís largest residential lender and servicer, sources told IMFnews, an affiliated publication. At Wells, Carroll is expected to become a senior vice president within the capital markets group, coordinating strategy with industry trade groups and consulting with policy makers on housing finance issues. That post at Wells was recently held by Bob Ryan, who left the megabank to take a senior advisor position at the Federal Housing Finance Agency.

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
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Yes and, heck, we may even do non-QM lending.
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No and we may even tighten credit.

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