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Other News in Brief/Republican Senators Threaten to Undo CFPB Rules Under English

December 4, 2017
Republican Senators Threaten to Undo any CFPB Rules Issued Under an English Regime. Last week, nine senators said they would work to invalidate any new rules promulgated by the bureau if Leandra English prevails in her attempts to unseat and replace the bureau’s acting director, Mick Mulvaney.... Mulvaney Taps Hensarling Aide. Is the Congressman Next? CFPB Acting Director Mick Mulvaney has named House Financial Services Committee Senior Counsel Brian Johnson to serve him as a senior adviser, late-breaking press reports indicated. ...
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Redwood Trust CEO Marty Hughes to Retire Next Spring, Will Remain as an Advisor

December 4, 2017
Paul Muolo
According to figures compiled by affiliate Inside Mortgage Finance, Redwood ranked 11th among all non-agency jumbo producers through Sept. 30 with a volume of $2.99 billion.
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New Amendment in GOP Tax Bill Spares Adverse Treatment for Mortgage Servicing Income

December 4, 2017
Brandon Ivey
The MSR-saving amendment fixing the tax language was offered by Sen. Mike Rounds, R-SD...
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3Q17 Mortgage Buyback Activity Higher at Freddie, Lower at Fannie

December 4, 2017
John Bancroft
GSE buyback activity has trended lower over the past two years…
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As ‘Zero Capital’ Day Approaches, Senate Moves to Create a GSE Bill

December 4, 2017
Paul Muolo
Lobbyists and others tracking the effort told this newsletter that those who’ve been shown the legislative language have taken a non-disclosure vow…
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Short Takes: Atlanta’s Mayor Wants Fannie Chairman Perry to Resign / Arch’s Chief Economist: Housing Relief for Seattle, Looser Credit / LendingHome Hits $2B Mark / Senators Make Threats Regarding English / A Promotion at LoanLogics

December 4, 2017
Carisa Chappell, Paul Muolo, and Thomas Ressler
Nine senators said they would work to invalidate any new rules issued by the CFPB if Leandra English prevails in her attempts to unseat and replace the bureau’s acting director, Mick Mulvaney...
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A Wide Variety in Securitizations of MSR Assets

December 4, 2017
Brandon Ivey
Ocwen Asset Servicing Income Series 2014-1 was secured by MSR related to $11.80 billion of mortgages serviced for Freddie Mac.
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HomeStreet Investors Criticize Mortgage Business

December 1, 2017
Officials at HomeStreet Bank defended the bank’s mortgage business activities this week after facing criticism from one of the largest shareholders in the company.
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Production, Servicing Profits Up in 3Q17

December 1, 2017
Mortgage bankers saw modest gains on both sides of their business during the third quarter of 2017, according to an Inside Mortgage Trends analysis of earnings reports from a dozen publicly held companies.
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GSEs Report Progress on eMortgage Processes

December 1, 2017
Fannie Mae and Freddie Mac say they have made significant strides over the past year to address obstacles to the transition to a fully digital mortgage process that have been identified by mortgage lenders and other industry participants.
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