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OCC Fines Wells Fargo $70 Million for Servicing Issues, Ends Consent Order Dating Back to 2011

May 25, 2016
Brandon Ivey
Four other banks were released from similar restrictions by the OCC earlier this year...
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Short Takes: Donald, the Housing Bubble and Tim / Yahoo and Quicken? / Duff Report Puts Ocwen in the Clear / SCOTUS Unlikely to Take Marketplace Case / Vendor Update: Chronos

May 25, 2016
Paul Muolo and Brandon Ivey
The housing bubble did in fact burst and I don’t recall Trump making any money off of it unless he did so through private investments that none of us know about...
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FHFA’s Watt Happy with FHLB Profits, but Worries About ‘Non-Core’ Assets, Insurers

May 25, 2016
Paul Muolo
Litigation settlements, of course, have played a role in the resurgence in profits at Fannie Mae and Freddie Mac, though the legal gravy train is just about over for those two.
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Call Center Platforms are Coveted – But Are They Worth It?

May 25, 2016
Paul Muolo
But industry advisors fear the value of call centers can be quite volatile, depending on movements in interest rates.
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Appraisers Balk at FHA Rule Adding Home Inspections; Checking the Pool?

May 25, 2016
George Brooks
Roofing and attic inspections, verifying whether a pool is operational and safe to use, checking sump pumps for any deficiency and checking crawl spaces elicited groans from appraisers...
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Redwood Learns to Compete and Cooperate With Banks

May 25, 2016
Brandon Ivey
“The banks’ sweet spot is with super prime,” said Marty Hughes, Redwood’s CEO…
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Comments Due Aug. 22 on CFPB Arbitration Proposal

May 24, 2016
Thomas Ressler
The publication of the proposal formally triggers the beginning of the official 90-day comment period. Comments to the CFPB are due by 11:59 p.m. Aug. 22, 2016.
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A Week After Unveiling $300 Million Debt Offering, PennyMac Delays the Deal

May 24, 2016
Paul Muolo
According to figures compiled by Inside Mortgage Finance, PMFS is the nation’s sixth largest residential originator, and 11th largest servicer.
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Short Takes: The Industry Strikes Back / Breach of Contract, Not Fraud / A Wingspan Candidate? / BKFS: A 10-Year Low in Foreclosure Starts / PHH Home Hires Former Bank Executive

May 24, 2016
Paul Muolo
Bad news for specialty servicers: Black Knight Financial Services said 58,700 foreclosures were started during April, the lowest reading in 10 years...
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Lenders Anxious About Ongoing HUD IG Audit of Downpayment Assistance…

May 24, 2016
Paul Muolo
National Council of State Housing Agencies Executive Director Barbara Thompson said the group is awaiting what she calls a “positive resolution of the issue.”
Read More
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