The CFPB reached settlements with Freedom Mortgage Corporation and Realty Connect, a real estate brokerage. The firms will pay a total of around $2 million for various allegations around illegal referrals.
The Obama-era task force set up to investigate MBS fraud that contributed to the 2008 crisis has finished its job. Its efforts led the DOJ to collect $36 billion in penalties from banks, originators and rating agencies.
Ginnie Mae could relieve financial pressure on its nonbank issuers by guaranteeing their short-term obligations, according to a proposal from former Ginnie President Ted Tozer.
There’s nothing like a new capital proposal to fan the flames of speculation. Might possible changes in bank regulations alter the market for CRA loans?
The rating service will assess expected payments from private mortgage insurers, with implications for MI-linked note issuance and potentially non-agency MBS with loans that have private MI.