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FHFA OIG Takes Issue with Regulator’s Handling of Potential Conflicts Involving Fannie Mae Executives

February 9, 2018
Carisa Chappell
The names of Fannie Mae executives potentially involved in conflicts of interest were redacted from the report.
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PennyMac Financial Posts a $123.9 Million Profit in 4Q, Originations Down by 10.0 Percent; Lender Set to Launch New Products

February 9, 2018
Brandon Ivey
PennyMac originated $17.04 billion of home mortgages in the fourth quarter, largely through the correspondent channel
Read More

House Green Lights Revision to Points and Fees Calculation

February 9, 2018
Thomas Ressler
House Financial Services Committee Chairman Jeb Hensarling said The Mortgage Choice Act is needed because the CFPB wrote a flawed and problematic definition that grossly miscalculates points and fees...
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What We’re Hearing: America, a Good Mortgage Customer? / Higher Rates, but How Much Higher? / Mortgage Bulls / Three Former Clayton Executives Launch Due Diligence Firm / Santander’s Warehouse Chief Departs / Mel Watt’s Successor Might…

February 9, 2018
Paul Muolo
The new game in town is figuring out who will succeed Mel Watt as director of the Federal Housing Finance Agency...
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Government and Jumbo Sectors Took the Biggest Lumps in 4Q17 Lending

February 8, 2018
John Bancroft
The conventional-conforming market held up relatively well in the fourth quarter, with origination volume easing by just 0.7 percent…
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Will CFPB Chief Mulvaney Say ‘Never Mind’ on PHH Case?

February 8, 2018
Thomas Ressler
In fact, it’s possible the CFPB under Acting Director Mick Mulvaney may just say: never mind.
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Ginnie Mae Lays Down Law on VA Churning, Warns Select Group of Issuers They Face Banishment

February 8, 2018
Paul Muolo
Issuers cited by Ginnie Mae are expected to deliver a corrective action plan...
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Freedom Mortgage Buys $25 Billion of Servicing Rights from Stearns Lending

February 8, 2018
Paul Muolo
In the summer of 2015, The Blackstone Group bought a controlling interest in Stearns.
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Better Mortgage Launches Refi Program for Airbnb Hosts, Providing Favorable Treatment to Income from Primary Residences

February 8, 2018
Brandon Ivey
Better Mortgage will use a borrower’s average Airbnb earnings from the last 24 months...
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Short Takes: The Top VA IRRRL Lenders / Tax Cuts Coupled with More Government Spending, a Recipe for Disaster? / If Habib’s Interest Rate Prediction Comes True, Watch Out Below / CFPB Wants Feedback on Enforcement Processes / A New Title for Amy Brandt

February 8, 2018
Paul Muolo and Thomas Ressler
Analyst Barry Habib of MBS Highway told us last week that once the yield breaks above 3.00 percent it’s only a matter of time before it hits 3.80. Just think of what that might do to the mortgage business…
Read More
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