Regulations

Browse articles from all of our Newsletters related to Regulations.

October 1, 2014 - IMFnews

Short Takes: Top FHFA Regulator Bolts Agency for Private Sector / Why Did Walter’s Stock Get Hammered? / Community Banks Apparently Love Non-QMs / Homewood Introduces Stated-Income Product / Another Bite at the Refi Apple?

Investors have been scratching their heads over the downdraft at Walter/Green Tree...


October 1, 2014 - IMFnews

FHA Publishes First Section of SF Handbook; Servicing Guidance Coming Soon

The handbook is designed to support FHA’s broader goals of expanding access to mortgage credit and making it easier for stakeholders to do business with the agency.


October 1, 2014 - IMFnews

Stock Prices of Fannie/Freddie Crushed in Wake of Judge’s Ruling

However, a separate lawsuit filed by Pershing Square Capital Management in the U.S. Court of Federal Claims is unaffected by Judge Lamberth’s ruling.


September 30, 2014 - IMFnews

Short Takes: MBA Involved With Nonbank ‘Working Group’ Too / An NPL ‘Brain Drain’ at Lone Star Funds / A $57 Million Problem for the FHLBs of Des Moines and Seattle / FHFA to IG: We Don’t Think So

One active NPL bidder has been Lone Star Funds, but sources tell IMFnews the hedge fund has been having a “brain drain” of sorts when it comes to talent.


September 30, 2014 - IMFnews

Fitch: Borrowers at Risk When Mortgage Servicing is Off-Shored

Fitch does not single out any servicers by name, but it’s common knowledge that both Ocwen Financial and Nationstar Mortgage have thousands of servicing-related workers housed in India...


September 30, 2014 - IMFnews

The Flagstar Settlement: the CFPB Effectively Halts Servicing Sales

To some, the MSR transfer prohibition slapped on Flagstar is similar to the one New York regulators placed on Ocwen Financial regarding the Wells Fargo deal.


September 30, 2014 - IMFnews

CFPB Urges Mortgage Industry to Raise HMDA Issues Now

Among other things, the CFPB is warning that the technical nature of the HMDA rule could cause operational headaches.


September 29, 2014 - Inside the CFPB

Worth Noting/Legislative Update/Looking Ahead

Did Apple Place Itself Within CFPB’s Purview? Some legal experts think the recent rollout of mobile payment technology by Apple Inc. might have put the consumer technology heavyweight in the CFPB’s regulatory crosshairs. Georgetown Law Professor Adam Levitin said in a recent blog that Apple may have unwittingly become a regulated financial institution through the release of its Apple Pay service. “Basically, I think Apple is now a ‘service provider’ for purposes of the Consumer Financial Protection Act, which means Apple is subject to CFPB examination and UDAAP [unfair, deceptive or abusive acts or practices],” he said. Levitin then proceeded to walk readers through a number of legal definitions to bolster his argument. Vivian Kim, an associate at the Dykema ...


September 29, 2014 - Inside the CFPB

Credit History, DTI Issues Outpace Collateral for Purchase Denials

Credit history and debt-to-income outpaced collateral as the primary contributors to mortgage application denials in the purchase-loan segment in 2013, according to an analysis by Inside the CFPB of the latest Home Mortgage Disclosure Act data released last week by the CFPB and the Federal Financial Institutions Examination Council. It was a much closer horse race in the refinance space, but then again, collateral is always more of an issue for refis. Credit history was identified as the cause of denial for 26.3 percent of applications last year in FHA/VA purchase mortgages, followed by DTI at 23.3 percent, with collateral registering only at 12.4 percent. Things were a little more competitive in the conventional home purchase loan space. There, credit ...


September 29, 2014 - Inside the CFPB

Why Run the Risk of Non-QM Lending? Opportunity, Experts Say

Representatives of some of the leading lenders of non-qualified mortgages are optimistic about the prospects for the future of the space, seeing opportunity where many see only risk. Brian Simon, chief operating officer for New Penn Financial, answered the question: Why open a non-QM market? “I think, as everyone is aware, the current credit environment has shut out many potential homeowners,” he said during a webinar last week sponsored by Inside Mortgage Finance, an affiliated newsletter. “There’s a narrow credit box in the current mortgage market, which means that the people who were hardest hit in the housing crisis have little access to credit.” New Penn Financial has decided to market products that allow access to affordable credit. “That just ...


September 29, 2014 - Inside the CFPB

Lenders Show Modest Improvement With Bank Account Complaints

Most lenders showed improvement in the complaints consumers registered with the CFPB about their bank accounts, according to a new ranking and analysis by Inside the CFPB. Thirty-two out of the top 50 ranked institutions saw such gripes decline from the first quarter of 2014 to the second, with 15 seeing increases, our analysis found. Further, 14 out of the top 15 showed an improvement, many by double digits. Overall, consumer complaints about banking services fell 11.3 percent, as the chart on page 9 illustrates. However, the most dramatic movement was seen among the lenders with increases in consumer criticisms. The worst performances were turned in by Associated Bank (up 200 percent), followed by BMO Harris (114.3 percent), Union Bank ...


September 29, 2014 - Inside the CFPB

Industry Groups Line Up Against Adding Consumer Narratives

A number of leading industry groups are united in their opposition to the CFPB's proposal to augment its complaint database with consumer narratives, citing concerns such as statutory overreach and a risk to consumer privacy, among a host of concerns. Frank Keating, president and CEO of the American Bankers Association, said in a comment letter that the CFPB’s plan to include customers’ “unauthenticated stories” in its complaint database “exceeds its statutory mandate and imposes excessive risks on banks and customers.” He contrasted the CFPB’s approach to the longstanding approach of the prudential regulators, in which complaints are kept confidential and shared with banks to correct problems and address supervisory concerns. The bureau’s approach, however, “erodes customer privacy, impairs the confidential ...


September 29, 2014 - Inside the CFPB

Written Guidance Needed on RESPA/TILA Rule, Industry Says

Most of the mortgage finance trade associations wrote to the CFPB recently with a handful of suggestions to improve implementation of the bureau’s TRID – the pending Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosure rule. At the top of the list: more written guidance, please. “We appreciate the bureau offering oral guidance through webinars and other channels,” said the groups in a joint letter. However, due to the complexity of the rule, “we strongly recommend that the bureau also provide reliable, written guidance on issues.” Such input is “essential for lenders, settlement service providers, insurers, investors and other secondary market entities, regulators and ultimately, consumers themselves.” The groups also encouraged the CFPB to deepen its engagement in industry ...


September 29, 2014 - Inside the CFPB

Republicans Pounce on GAO Report On CFPB’s Huge Data Collection

Members of the Senate and House Grand Old Party wasted no time in seizing upon a new report from the Government Accountability Office that confirmed the huge scope of the CFPB’s data collection initiative and cited weaknesses with data security and privacy. “The CFPB’s massive data collection effort is an unwarranted, unwelcome intrusion into the private financial lives of millions of Americans,” said Senate Banking, Housing and Urban Affairs Committee ranking member Mike Crapo, R-ID, who requested the study. “This GAO report confirms what the bureau would not – that it has been collecting information on up to 600 million American financial accounts, and it does not have the proper safeguards in place to protect the information it is collecting,” he ...


September 29, 2014 - Inside the CFPB

Calls Mount in House for QM Fixes, But Little Time Remains for Action

Before members of Congress left the nation’s capital for their final push before the November elections, diverse efforts were underway for making changes to aspects of the qualified mortgage definition under the CFPB’s ability-to-repay rule, either through legislation or persuasion. Earlier this month, the U.S. House of Representatives passed H.R. 5461, a package of legislation which includes the text of H.R. 3211, the Mortgage Choice Act, which passed the House unanimously in June. The legislation would make it easier for mortgages to fit under the ATR rule’s cap on points and fees by providing equal treatment to title charges, regardless of whether or not a consumer chooses a title company affiliated with the lender. “This provision is narrowly focused to ...


September 29, 2014 - Inside the CFPB

Privilege Close to Being Extended To State-Licensed Mortgage Cos.

State-licensed mortgage companies – and the agencies that oversee them – are on the verge of receiving the same kind of protections against waivers of privilege for information provided to the CFPB that was previously extended to depository mortgage lenders supervised by federal agencies. Before adjourning for the November elections, the U.S. Senate passed H.R. 5062, the Examination and Supervisory Privilege Parity Act of 2014. The bill would require the CFPB to coordinate its supervisory activities with state agencies that license, supervise or examine those non-depositories that offer consumer financial products or services. It also would provide that when someone shares information with those same state regulators, or with prudential regulators and state banking regulators, that sharing does not waive attorney-client privileges. ...


September 29, 2014 - Inside the CFPB

Corinthian Colleges Rejects CFPB Allegations of Predatory Lending

Corinthian Colleges accused the CFPB earlier this month of wrongly disparaging the career services assistance the for-profit company offers and of mischaracterizing both the purpose and practices of its “Genesis” lending program. The CFPB filed a lawsuit against the company earlier this month. In a statement provided to Inside the CFPB, Corinthian Colleges said the bureau’s complaint ignores “clear, easily obtainable evidence” that thousands of its graduates are hired into permanent positions by large and small employers across the U.S. every year. Instead, the complaint cites isolated incidents at Corinthian’s 97 U.S. campuses that violated company policy regarding job placement policies, the firm added. “The CFPB is aware of these cases because Corinthian identified the issues, took strong action to ...


September 29, 2014 - Inside the CFPB

Bureau Gets Online Payday Lender Shut Down Over ‘Cash-Grab Scam’

In a case that highlights the sensitivity of personal financial information and the firms that trade in it, the CFPB convinced a federal judge last week to freeze the assets of the Hydra Group, an online payday lender, and to put a receiver in place to stop an alleged illegal “cash-grab scam” at the business. According to the bureau, the Hydra Group used information purchased from online lead generators to access consumers’ checking accounts to illegally deposit payday loans – usually $200 to $300 – and withdraw fees ranging from $60 to $90 without consent. The organization then allegedly used falsified loan documents to claim that the consumers had agreed to the phony online payday loans. The CFPB’s lawsuit alleges that Richard ...


September 29, 2014 - Inside the CFPB

CFPB, OCC Bring $57 Million Action Against U.S. Bank

Joint supervisory examinations by the CFPB and the Office of the Comptroller of the Currency have led an enforcement action that will require U.S. Bank to pay $57 million to settle allegations it illegally charged for “add-on” products, harming more than 420,000 consumers. The government agencies accused U.S. Bank, headquartered in Minneapolis, of unfairly charging consumers for certain identity protection and credit monitoring services that they did not receive. These services were sold as “add-on products” for credit cards and other bank products, such as mortgage loans and checking accounts. Part of the problem could have been a breakdown in vendor management, which is an area of increasing importance to the CFPB. According to the findings contained in the consent ...


September 29, 2014 - Inside the CFPB

Industry Split on Auto Finance Larger Participant Proposed Rule

The CFPB issued its long-awaited proposed rule to define larger participants in the auto finance sector –as well as its underlying proxy methodology – to a decidedly mixed reaction from rival sectors of the financial services industry. Bill Himpler, executive vice president of the American Financial Services Association, said his organization remains concerned that the bureau continues to issue larger participant rules that capture market participants “that, for lack of a better term, are not large by any stretch of the imagination. “Many of the market players that will be subject to the proposed rule have well below 1 percent of market share,” he added. Citing data from Experian, Himpler said that companies below the top 30 have less than a ...


September 29, 2014 - Inside the CFPB

CFPB Official Urges Mortgage Industry to Raise HMDA Issues

The mortgage industry has about a month left to officially weigh in on the CFPB’s pending Home Mortgage Disclosure Act proposed rule, and a top official at the bureau urged lenders to raise important issues now. “Because we’re opening HMDA up, we’re taking the opportunity to try to streamline the reporting process for you,” said Kathleen Ryan, deputy assistant director in the CFPB’s Office of Regulations, in comments before the Mortgage Bankers Association’s regulatory compliance conference on Monday. The bureau also is looking “for ways to ease some of the pain around geocoding and these other ‘translation’ issues that you have in your reporting systems by trying to align to the extent possible” with existing industry standards for data points ...


September 29, 2014 - Inside the CFPB

CFPB Slams Flagstar $35 Million Over Mortgage Servicing Violations

As Inside the CFPB was going to press, the bureau announced a $35 million enforcement action against Flagstar Bank for allegedly blocking borrowers’ attempts to save their homes, in violation of the CFPB’s mortgage servicing rules. This is the first enforcement action the bureau has initiated based on the new regulation. The regulator alleged that the bank closed borrower applications due to its own excessive delays. “Flagstar took excessive time to review loss mitigation applications, often causing application documents to expire,” said the agency. “To move its backlog, Flagstar would close applications due to expired documents, even though the documents had expired because of Flagstar’s delay.” The CFPB also accused the bank of delaying the approval or denial of borrower ...


September 29, 2014 - IMFnews

Short Takes: CFPB Slams Flagstar Over Mods / No, a New Mortgage Trade Group is NOT Forming / BofA Transferring MSRs to Shellpoint / Merger of Two FHLBs an Aberration? / NJ Senator Intros Share-Appreciation Mortgage Bill

Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.


September 29, 2014 - IMFnews

An MBS Program on Fire: Ginnie Mae

The Ginnie II program now accounts for up about 98 percent of new agency issuance.


September 29, 2014 - IMFnews

Mortgage Unit of Home Builder Ready to Enter Non-QM Market

Pulte Mortgage will install a “modest price” adjustment on its non-QM loans.


September 29, 2014 - IMFnews

Wells Fargo MSRs Targeted by Ocwen Starting to Run Off

The Wells-Ocwen MSR deal is still waiting for Lawsky's green light. But when that will come is another matter...


September 29, 2014 - IMFnews

Ginnie Mae Tops Among Agencies in Financing Minorities

Fannie, Freddie and Ginnie All saw most of their business come from borrowers earning less than $150,000 per year.


September 26, 2014 - Inside FHA Lending

FHA Originations Trend Up in July, Data Show

FHA total originations rose 9.9 percent month-over-month in July as purchase mortgage activity continued to rise, according to Inside FHA Lending’s analysis of agency data. Lenders produced a combined $13.01 billion in new FHA-insured mortgages, up from $11.85 billion in June. Purchase mortgages accounted for 81.9 percent of total FHA production during July, the latest month for which FHA originations data were available. The July increase reflects an upward monthly trend in FHA lending that began in March, when FHA originations totaled $8.74 billion. Production then climbed steadily to $10.36 billion in April, $10.61 billion in May and $11.85 billion in June. Originations jumped 16.0 percent from the first to the second quarter. A recent analysis by affiliated publication Inside Mortgage Finance found that most of Ginnie Mae’s purchase activities (FHA, VA and rural housing loans) in the ...


September 26, 2014 - Inside FHA Lending

FHA Announces $336 Million Recovery for MMIF

An estimated $336 million out of a $614 million settlement that JPMorgan Chase agreed to pay for not complying with FHA requirements will go towards stabilizing the agency’s ailing Mutual Mortgage Insurance Fund. On Feb. 4, 2014, the U.S. Attorney’s Office for the Southern District of New York took over a whistleblower lawsuit and started an investigation of Chase on behalf of the government for alleged violations of the False Claims Act. The whistleblower or “relator” alleged that Chase, an approved FHA direct endorsement lender, had not followed FHA requirements when underwriting loans, causing the MMIF to incur significant losses when the borrowers defaulted on their loans. The U.S. Attorney filed suit against Chase based on the results of an audit conducted by HUD’s Inspector General that looked into the bank’s underwriting and refinancing of FHA loans. The lawsuit alleged that ...


September 26, 2014 - Inside FHA Lending

Downturn Avoided with $518M in New HMBS

Issuers of securities backed by Home Equity Conversion Mortgages created $518 million in new HMBS pools during August, the third largest monthly HMBS issuance this year and the latest month for which HMBS issuance data was available. August’s new issuance total was up slightly from July’s $507 million, according to New View Advisors, which advises financial services clients on capital markets, product development and investment strategies. Ninety-one pools were issued, consisting of 46 original issuance and 45 tail pools. Original HMBS pools are created when a pool of FHA-insured reverse mortgages is securitized for the first time. Tail HMBS issuances are HMBS pools created from the uncertified portions of HECMs that have already had their original HMBS issuance. Tail issuances accounted for about $140 million. Beginning with FY 2014, HECM principal limits were ...


September 26, 2014 - Inside FHA Lending

GNMA Financed Minorities, LI Borrowers

Ginnie Mae securitized a relatively higher volume of loans for African-American borrowers than did Fannie Mae or Freddie Mac, according to a new Inside FHA Lending analysis of recently released Home Mortgage Disclosure Act data covering 2013 mortgage originations. Nearly a quarter, 24.7 percent, of mortgages made to black borrowers last year had FHA, VA or rural housing loans financed through Ginnie Mae, loan-level HMDA data show. Fannie Mae (19.2 percent) and Freddie Mac (9.9 percent) also accounted for large shares of mortgages for black borrowers. However, blacks accounted for just 4.2 percent of mortgages with the race of the primary borrower identified in HMDA reports. Fannie actually had a bigger share of the Hispanic market (24.7 percent), but Ginnie accounted for a substantial 17.3 percent of mortgages made to Hispanic borrowers last year. All three agencies saw ... [1 chart]


September 26, 2014 - Inside FHA Lending

FHA’s QA Draft Addresses Enforcement Concerns

Obama administration officials and federal regulators met recently with mortgage industry representatives to discuss lender overlays and other obstacles preventing borrowers with slightly tainted credit and first-time homebuyers from obtaining a mortgage. Neither administration officials nor industry participants, however, spoke on or off the record about the things that were discussed during the Sept. 17 meeting at the White House. It was also unclear whether both sides have agreed on any solutions to the issues that lenders say are preventing them from lending. Sources, however, said one major issue is lenders’ uncertainty about their legal responsibilities and liabilities, which already have cost the industry billions of dollars in massive legacy settlements. Lenders have complained that even the slightest loan paperwork error could force them out of the ...


September 26, 2014 - Inside FHA Lending

Ginnie Mae AE Discusses Other Issuer Pitfalls

Approved issuers must ensure that loans have the requisite federal insurance or guarantee before bundling them for securitization, cautioned Ginnie Mae. Loans that fail Ginnie’s “loan matching” review will be tagged as “uninsured” and will not be accepted for securitization, according to John Kozak, a Ginnie Mae account executive and a panelist at a conference sponsored by the agency this week. Ginnie Mae uses loan matching to screen for mortgages that may have been endorsed on paper but have not been actually insured or guaranteed by either the FHA, VA or the Department of Agriculture’s Rural Housing Development. Every month, Ginnie Mae takes a certain lender’s entire mortgage portfolio and throws it up against the agency’s insured/guaranteed database in search for loan mismatches. To do this, the agency uses “two-string match” criteria, which consist of a ...


September 26, 2014 - Inside FHA Lending

GNMA to Tighten Supervision of Issuers

Ginnie Mae has unveiled new plans for issuer standards as well as steps to boost liquidity in the mortgage servicing rights (MSR) market. Agency officials at a summit hosted by Ginnie Mae this week in Washington, DC, said both actions are designed to avoid issuer failures and to preserve residential mortgage servicing as an economically viable activity and MSRs as an attractive asset class. The officials said changes will be made to Ginnie’s mortgage-backed securities program to support the agency’s transformation from a pre-crisis bank-driven government MBS program to a post-crisis program where non-depositories and smaller financial institutions play a much bigger role. By the middle of next year, approximately a third of Ginnie MSRs will have changed hands over the previous four years, agency officials said. Many of the new owners of the servicing rights are ...


September 26, 2014 - IMFnews

What We’re Hearing: How Long Can Regulators Keep ‘Baby-Proofing’ the American Mortgage Market? / Non-QM Lending is a $50 Billion Market. That’s All? / Citadel Has Little or No Competition / Ocwen-Wells MSR Deal Imminent… Not

In other words, mortgage banking is now supposed to be a “sure thing” where no one – and we do mean no one – takes on risk or fails. Ever.


September 26, 2014 - Inside MBS & ABS

Cautious Optimism in Structured Finance Market As New Regulations Ease Compliance Uncertainty

Investors are comfortable with broad swaths of the structured finance market and issuers are cautiously optimistic that regulators won’t hinder activity too much going forward, according to attendees at the ABS East conference produced by Information Management Network this week in Miami Beach. “We’re in a pretty good spot right now in the market from a supply-demand perspective,” said Bob Behal, a principal and co-head of ABS investments and commercial MBS investments at Vanguard Group. Almost 3,700 people had registered by the start of the conference, up slightly from around 3,500 people in 2013. Will Zak, a director at Barclays, said...


September 26, 2014 - IMFnews

Treasury Sees a ‘Benchmark’ Non-Agency MBS as Potential Spur for Market

The Treasury Department will have a key role in developing a $1 billion "test" non-agency security.


September 26, 2014 - IMFnews

Principal Reduction Loan Modifications Fall Out of Favor with Banks

The megabanks also decreased their use of interest rate reductions on loan modifications...


September 25, 2014 - IMFnews

Short Takes: The Cost to Underwrite Non-QM Loans / Uh, How Large is the Non-QM Market? / Ocwen’s Stock Going Nowhere / Mortgage Firms Love to Sell Ginnie MSRs / Anworth Looks to Expand

Just how large is the non-QM market? That’s hard to say...


September 25, 2014 - Inside Mortgage Finance

Congress Acts to Extend Info-Sharing Privilege to State-Licensed Mortgage Companies, State Agencies

Last week, the Senate passed legislation that would extend to state-licensed mortgage companies – and the state regulatory agencies that oversee them – the same kind of protections against waivers of privilege for information provided to the Consumer Financial Protection Bureau that was previously extended to federal agencies that supervise depository mortgage lenders. The measure, H.R. 5062, the Examination and Supervisory Privilege Parity Act of 2014, would require the CFPB to coordinate its supervisory activities with state agencies that license, supervise or examine those who offer consumer financial products or services. Currently under the Dodd-Frank Act, the bureau is only required to coordinate with federal and state banking regulators. The legislation also would provide...


September 25, 2014 - Inside Mortgage Finance

Much for Lenders to Consider as They Eyeball Entering the Non-QM Space, Current Players Say

The market outside the pristine parameters of the Consumer Financial Protection Bureau’s qualified mortgage offers less-competitive opportunity and potentially sizeable legal risk, according to panelists participating in a webinar sponsored this week by Inside Mortgage Finance. Brian Simon, chief operating officer for New Penn Financial, noted that the regulatory environment makes a move into non-QM lending much more complicated than in the past because the risks for the originator and the purchaser now are greater than they’ve ever been. However, Simon added: “A high degree of difficulty usually results in higher yield and opportunity.” The New Penn executive predicted...


September 25, 2014 - IMFnews

The Non-QM Market: Less Competition, Higher Upside, But…

In the non-QM space, Lake Sunapee Bank serves a large number of self-employed borrowers, medical professionals, high net-worth retirees, and first-time homebuyers.


September 24, 2014 - IMFnews

Short Takes: Ginnie to New Issuers: Use it Or Lose It / Suddenly, Wholesalers Everywhere / Fannie Doesn’t Like B&Bs / Motor City No. 3 for HARP Outreach / Ex-JPM Executive Gets Key Job at FHFA

Hell hath no fury like an agency whose new issuers are not actually issuing (MBS)...


September 24, 2014 - IMFnews

Special Servicing Likely to Stick with Nonbanks, Plenty of Room for Growth

“Banks are really bad at servicing nonperforming loans,” said Jon Wishnia, a partner at the law firm of Lowenstein Sandler.


September 23, 2014 - IMFnews

Short Takes: Mortgage Industry Shrinks but Not by Much / Can It Be? Final Risk Retention Rules? / Treasury’s Experiment in Non-Agency MBS / October Non-QM Launch for Ethos / JPM Removed From Virginia Lawsuit

It appears that Ethos Lending will enter the non-QM market come October...


September 23, 2014 - IMFnews

Ginnie Mae Promises Net Worth Rules for All by MBA Annual

Soon it will be easier to use Ginnie Mae mortgage servicing rights as collateral, or so the agency hopes.


September 23, 2014 - IMFnews

Why the Mortgage ‘Credit Box’ is So Small

Originators are constantly looking over their shoulders because loans are being re-underwritten two or three times, once by the aggregator, once by the GSEs...


September 23, 2014 - IMFnews

FHFA Suggests Leaving Adjustments of G-Fees and Loan Limits to Congress

FHFA's Bob Ryan said the GSE regulator has concerns that decreasing loan limits or increasing g-fees would limit access to credit.


September 22, 2014 - IMFnews

Short Takes: Ginnie Mae MSR Transfers Plunge / And the Authors Are… / Time to Short Altisource? / Rep. Maloney Goes to Bat for GSE Multifamily / New Chairman for FHLB’s Office of Finance

Why short Altisource? This source reasons that as real estate values continue to improve and foreclosures slow, Altisource will have less to do going forward...


September 22, 2014 - IMFnews

New Ginnie White Paper: Banks Good for Risk, Nonbanks Not So Good

Tozer believes that with depositories in control of the Ginnie market, the regulation of lender/servicers has essentially been outsourced to banking regulators who have “vast experience” in safety and soundness.


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Over the next six months we plan to hire this many more additional loan officers:

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