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Department of Justice to Lenders: Settle With Us Now or Pay More Later

April 25, 2013
Thomas Ressler
The government is warning mortgage lenders to settle their fair lending cases upfront instead of litigating.
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Flagstar Sees Production Decline, Stock Hammered in Trading

April 24, 2013
Paul Muolo
Although Flagstar earned money on its mortgage business in the first quarter, its gain-on-sale margin took a major hit.
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Redwood and Other Non-Agency Players Want Congressional Help to Boost Production

April 24, 2013
Brandon Ivey
The non-agency/jumbo market cannot truly revive until Congress passes laws aiding transparency and decreasing risk to potential participants.
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Michael Lau’s Pingora Buys Delaware Mortgage Banking Firm

April 24, 2013
Paul Muolo
Michael Lau, the man who helped Phoenix Capital corral Bank of America as a client, has purchased his own mortgage banking firm.
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Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders

April 24, 2013
Paul Muolo and Thomas Ressler
Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions.
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As GOP Complains, CFPB’s Cordray Defends Agency’s Data Collection Efforts

April 24, 2013
Thomas Ressler
Republicans in Congress worry about the CFPB collecting too much data on consumers but are their concerns overblown?
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S&P Strikes Back on MBS Case, Calls Government’s Fraud Lawsuit ‘Overreach’

April 24, 2013
Charles Wisniowski
Standard and Poor's is fighting back against the federal government in its $5 billion MBS fraud case.
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Short Takes: CFPB Showing Some Love for Banks / Fannie About to Award a Big Tech Contract? / FHFA Doesn’t Want Higher Minimum Net Worth / Home Buyer Traffic Spikes / 100 Percent LTV Loans Not on NCUA’s Radar?

April 23, 2013
Paul Muolo
Residential lenders can rest easy: the GSEs aren't about to hike their net worth minimums. Also: the CFPB shows some love to banks.
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House Banking Chairman Won’t Let CFPB’s Cordray Testify

April 23, 2013
Thomas Ressler
Although Rep. Hensarling rebuffed Cordray, the CFPB chief delivered the agency’s semi-annual report to the Senate Banking Committee Tuesday morning.
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Prices Climbing for Jumbo Mortgages

April 23, 2013
Paul Muolo
The jumbo market is heating up, which means the price paid for whole loans is on the rise.
Read More
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