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Mixed Read on Regional Banks Following Failures

March 23, 2023
Brandon Ivey
First Republic Bank’s share price declined even after 11 big banks deposited $30 billion into the institution in a show of support. Western Alliance Bank has fared better, without coordinated support from other banks.
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Maybe Now Is a Time to Buy Mortgage Servicing Rights?

March 23, 2023
Paul Muolo
The first quarter hasn’t exactly been a barn-burner for MSR sales and the recent bank liquidity crisis hasn’t helped. However, some buyers might take advantage of the fears of others.
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Non-QM Fraud Nearly Topples Sterling Bank

March 23, 2023
Brandon Ivey
The guilty plea by Sterling Bank includes $27.2 million in restitution. The DOJ said any higher amount would have put the bank out of business.
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New Disparate-Impact Rule May Revive Lawsuit

March 23, 2023
Sam Manas
HUD’s decision to reinstate its 2013 “discriminatory effects standard” could revive an old lawsuit brought against the agency by two trade groups.
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Banks, Nonbanks Expand Special-Purpose Credit Programs

March 23, 2023
Monica Hogan
Special-purpose credit programs aim to close the racial wealth gap but panelists at a conference said the programs could disappear if underused.
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Grapevine: Trouble in Fix-and-Flip Land? / About Nonbanks…

March 23, 2023
Paul Muolo and Dennis Hollier
There are plenty of fix-and-flip home sales but profitability is starting to slip. Meanwhile, in his new book, Calabria takes a poke at nonbanks.
Read More

House Bill Would Put CFPB Funding in Congress’ Hands

March 20, 2023
Sam Manas
A majority of the witnesses testifying at a recent House subcommittee hearing voiced support for the Taking Account of Bureaucrats’ Spending Act, which would separate the CFPB from the Federal Reserve System and subject it to the regular appropriations process.
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CFPB Uncovers New ‘Junk Fee’ Charges by Mortgage Servicers

March 20, 2023
Sam Manas
In a special edition supervisory highlights report, the CFPB revealed old and new ways in which mortgage servicers are attempting to collect unlawful fees from borrowers.
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House Republicans Seek Extensive Overhaul of CFPB

March 20, 2023
Sam Manas
Eight Republican-sponsored pieces of legislation were attached to a recent hearing on CFPB reforms, including one that would convert the bureau’s leadership structure into a five-member commission.
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CSBS Proposes Mortgage-Specific NMLS Licensing Requirements

March 20, 2023
Sam Manas
The proposed business-specific requirements will supplement proposed core requirements that all nonbanks using the NMLS must fill out.
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