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Mortgage Complaints Filed with the CFPB Drop, BofA Still Leads the Pack

November 5, 2013
Thomas Ressler
Bank of America led all residential firms in cumulative mortgage complaints: 23,004 at the end of September. Wells Fargo was a distant second with 12,261.
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Short Takes: Does the CFPB Understand Mortgage Banking? / Whole Loan Trading Slows / FHFA Cracks Down on Force-Placed Insurance (Again) / Symbiosis: Ocwen and HLSS / More Ads from Greenlight and CashCall

November 5, 2013
Paul Muolo and Charles Wisniowski
When it comes to auditing mortgage lenders, does the CFPB know what it’s doing? It all depends on who you talk to. Also, the FHFA cracks down on force placed insurance (again).
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Nationstar Mortgage Eyeing Change to Broker Channel?

November 5, 2013
Paul Muolo
One mortgage analyst who tracks the company said Nationstar is changing the way it “allocates capital” to certain of its business segments.
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S&P Tops in Rating Non-Agency MBS

November 4, 2013
John Bancroft
Standard & Poor's rated $11.65 billion of non-agency MBS issued through the end of September.
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FHA’s Galante: Government MI Premiums Near the ‘Tipping Point’

November 4, 2013
George Brooks
Housing Commissioner Carol Galante warned that with interest rates rising, the FHA may have reached a “tipping point” with its mortgage insurance premiums.
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Two Harbors Inks MSR Deal with PHH, Still in the Hunt on Flagstar

November 4, 2013
Paul Muolo
Two Harbors, a publicly traded REIT, is getting aggressive when it comes to MSR acquisitions.
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Disparate-Impact Case May Not Make it to the Supreme Court

November 4, 2013
George Brooks
If the case settles, it would be the second time in two years that a case involving disparate impact claims under the Fair Housing Act has settled before the Supreme Court had an opportunity to hear arguments.
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FBR Pegs Originations at $1.5 Trillion in 2014

November 4, 2013
Paul Muolo
FBR Capital Markets believes that smaller shops are not being counted in new estimates on loan production.
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Short Takes: Subprime Shop Has Strong Returns / The Next Vote on Mel Watt Will Come… / Nonbank Trade Group Wants a Say in GSE Reform / Auction.com Sells Commercial Assets / LPS on Prepayment Speeds

November 4, 2013
Brandon Ivey and Paul Muolo
Is the White House ready to give up on Rep. Mel Watt, D-NC, to be the next director of the Federal Housing Finance Agency? Don’t bet on it.
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Integrated Consumer Disclosure Rule Anticipated in Early December

November 4, 2013
The CFPB’s integrated mortgage disclosure rule under the Real Estate Settlement Procedures Act and the Truth in Lending Act might not be out until early December, an informed source told Inside the CFPB. For months, the expectation had been that an October release was in the offing, but it still has yet to come out, and bureau personnel say they don’t have a release date. “We were in a meeting at the beginning of October, and before that, there were some pretty heavy rumors that it was going to come out at the end of October,” said...
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