Citi Settles CFPB Servicing Allegations for $29 Million January 24, 2017 Thomas Ressler The CFPB accused CitiFinancial Servicing of misleading consumers about the effect of deferring payment due dates…Read More
A Warning from MBA’s Stevens: An Industry Paradigm Shift is Underway. What to do About Refi-Heavy LOs? January 24, 2017 Brandon Ivey The MBA chief stressed that the market is set to shift from mortgage loan officers who can thrive as “gatherers” to a market that requires “hunters.”Read More
Suspending FHA Premium Cut is a Good Thing, Says AEI’s Ed Pinto January 24, 2017 Thomas Ressler At least some factions of the industry are happy about the FHA not cutting premiums, including Ed Pinto of AEI…Read More
Short Takes: Wells Fargo Accused of Improperly Charging for Rate-Lock Extensions / A Big Deal or Not? / The Golden West-Sandler-Wells Fargo Connection / UWM Chief to Educate on ARMs January 24, 2017 Paul Muolo and Thomas Ressler Some of the allegations surfaced in a Nov. 2016 letter sent to Congress by a former Wells LO named Frank Chavez...Read More
A Spike in FHA/VA Default Rates for 4Q16; A Three-Year High is Reached January 23, 2017 John Bancroft Meanwhile, the supply of Ginnie single-family MBS outstanding continued to set new records…Read More
Past FHA Commissioner Montgomery Suggests Common Standards for FHA,VA, GSEs… January 23, 2017 George Brooks Brian Montgomery’s proposed Office of National Housing Policy would be headed by a “housing policy czar…”Read More
Fannie and Freddie are About to Provide a Nice Revenue Gift to Trump Administration January 23, 2017 Paul Muolo In 2016, Fannie and Freddie guaranteed $973.72 billion of single-family loans, an 18.1 percent improvement from the year prior. Read More
Bad News for Specialty Servicers: Foreclosure Rate Plunged 31 Percent in 2016 January 23, 2017 Thomas Ressler As delinquencies and foreclosures decline, specialists that deal with problem loans should see a drop in business...Read More
Deephaven Bought $550 Million of Nonprime/Non-QM Loans in 2016 January 23, 2017 Paul Muolo Deephaven's CEO, Matt Nichols, is a former managing director at Goldman Sachs where he worked for 12 years.Read More
Short Takes: The MIP Cut: No Big Deal? / A True FHA Jumbo? / New MF MBS From Freddie Mac / Nice Earnings from MGIC / Annaly’s Chief Legal Officer to Retire January 23, 2017 Paul Muolo One loan officer said FHA should consider building a "true jumbo program that is exclusive of Fannie Mae and Freddie Mac…”Read More