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CFPB Chooses Not to Appeal PHH RESPA Sec. 8 Ruling But Gives No Clear Signal on Future Policy

May 10, 2018
Neither PHH Corp. nor the Consumer Financial Protection Bureau will ask the Supreme Court of the United States to review a lower court decision that overturned the agency’s controversial interpretation of anti-kickback provisions in the Real Estate Settlement Procedures Act.
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Freddie Extends an LOC Backed by MSR, Igniting a Debate About Conservatorship Oversight and ‘Charter Creep’

May 10, 2018
Freddie Mac recently extended a line of credit to an unidentified nonbank seller/servicer, setting off a mini debate about charter creep – and why its regulator approved the initiative in the first place.
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Private MI Lost Market Share in Early 2018, But Insurance-in-Force Topped $1 Trillion Mark

May 10, 2018
Private mortgage insurers reported substantial declines in new insurance written during the first quarter of 2018, losing some market share to both the FHA and VA, according to a new analysis and ranking by Inside Mortgage Finance. [Includes two data charts.]
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Non-QM Lender Angel Oak Ventures into Small-Balance Commercial Market

May 10, 2018
Paul Muolo
Angel Oak's small-balance commercial unit employs 19 full-timers and hopes to add an additional 30...
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Short Takes: Impac Employees Looking Around? / Ex-CFPB Chief Cordray Wins in Ohio, but… / Will Warren Pick Cordray to Head the CFPB (Again)? / AIG Unit Readies Jumbo MBS / PennyMac Restarts Jumbo Unit

May 10, 2018
Paul Muolo and Brandon Ivey
Cordray was never popular in the mortgage industry because of all the regulations he heaped on lenders and servicers...
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Private MIs Lost Market Share in Early 2018 but Insurance in Force Topped $1 Trillion

May 10, 2018
John Bancroft
Arch maintained its large market share lead in insurance-in-force, while Radian ranked first in terms of new insurance written…
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Impac Posts a $3.9 Million Profit for 1Q18, Aided by MSR Markup. Originations Drop 20.1 Percent

May 10, 2018
Brandon Ivey
New CEO George Mangiaracina said the nonbank’s servicing portfolio is serving as a counter-cyclical balance to declining originations…
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CFPB Chooses Not to Appeal PHH RESPA Ruling. A Shift from ‘Regulation by Enforcement’

May 10, 2018
Yemeng Yang
Former CFPB Director Richard Cordray challenged PHH’s captive reinsurance program, ruling that any referral of settlement business that involves payments is prohibited under RESPA…
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Capital One Selling $17.0 Billion Loan Portfolio to Subsidiary of Credit Suisse, Which Will Sell to PIMCO

May 9, 2018
Brandon Ivey
As of the end of March, Capital One handled a $25.78 billion servicing portfolio, making the firm the 49th largest servicer, according to Inside Mortgage Finance.
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Another Quarter and More Red Ink for PHH Corp.

May 8, 2018
Paul Muolo
PHH CEO Robert Crowl: "Our team is fully committed to executing our business plans and meeting the closing requirements for our merger with Ocwen."
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