Bright’s Confirmation Delayed. With the Senate adjourning last week for the midterm elections, Michael Bright’s confirmation as president of Ginnie Mae will have to wait. President Trump nominated Bright, executive vice president and chief operating officer, last May and he was confirmed by the Senate Committee on Banking, Housing and Urban Affairs in August. Ginnie Mae has been without a permanent head since January 2017 when former president Ted Tozer stepped down. Bright has since been acting president of the agency. Both the House and the Senate will be back on Nov. 13 for a lame-duck session. President Trump Wants 5 Percent Budget Cuts from Cabinet Agencies. President Trump has directed his Cabinet secretaries to trim 5 percent from their respective agencies’ FY2019 budget request. Some agencies can do more than 5 percent, he suggested. It is unclear which of the ...

Outside counsel for nonbank lender Castle & Cooke Mortgage disputed several statements included in an Oct. 12 Inside Mortgage Finance article about the firm and one of its investors.

Fun fact: Nonbanks went over the 60.0 percent threshold in Ginnie Mae market share during the third quarter.

Bank of America expects 50 percent of its mortgage clients to go the digital route next year…

The three rating services noted the unique treatment of unpaid interest in their presale reports…

The agency mortgage-servicing market continued to grow at a steady pace during the third quarter of 2018, fueled by strong purchase-mortgage originations, according to an exclusive ranking and analysis by Inside Mortgage Finance. [Includes two data charts.]

With loan production on the wane and profit margins thinning, warehouse lenders, financiers and even regulators are growing increasingly anxious about nonbank liquidity, a topic that received an airing at the annual convention of the Mortgage Bankers Association this week.

Warehouse executives speaking on a panel at this week’s annual Mortgage Bankers Association convention offered a somewhat bleak view of the market.

Policy changes are coming down the pike for participants in government lending programs to enhance and improve operations, compliance and customer service, according to agency representatives speaking at the Mortgage Bankers Association’s annual convention in Washington, DC, this week.

The Consumer Financial Protection Bureau will issue a new rule that clarifies what lending practices will be considered “abusive,” said Acting CFPB Director Mick Mulvaney, speaking at the annual convention of the Mortgage Bankers Association this week.