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Short Takes: An Investigation Into LPMI Pricing? / Wells Mortgage Chief Advances / Analyst Lukewarm on Flagstar / Navy Fed Sanctioned by CFPB on Collection Practices

October 12, 2016
George Brooks and Paul Muolo
Wells Fargo’s mortgage chief Franklin Codel is getting some new duties...
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Industry Groups Oppose CFPB Proposal to Add Survey to Consumer Complaint Database

October 12, 2016
Thomas Ressler
Under the proposal, consumers can rate a company’s response on a scale from one to five…
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Sales of Higher-Priced Mortgages Declined in 2015

October 12, 2016
Brandon Ivey
Higher-priced mortgages are sometimes seen as a proxy for nonprime mortgages...
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‘High Pressure’ Wells Fargo Put on Retail Bankers Wasn’t Evident in Mortgage Unit

October 11, 2016
Paul Muolo
A four-year veteran of the bank in California, this mortgage loan officer said he never felt any type of pressure to cross sell other Wells products either.
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At the End of 3Q16, Just Two Firms Were Still Issuing ‘Prime’ Non-Agency MBS

October 11, 2016
Brandon Ivey
Five deals were issued during the quarter, led by a $2.65 billion MBS from Chase that combined mortgages eligible for sale to the government-sponsored enterprises and jumbo loans.
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Portfolio Retention of ARMs Increased in 2Q16

October 11, 2016
Brandon Ivey
Wells Fargo was the top ARM lender in the second quarter with $5.76 billion in originations.
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IG Audit: Ginnie Mae Left Hundreds of Uninsured Loans in MBS Pools

October 11, 2016
George Brooks
Ginnie Mae requires that all loans in its MBS pools have federal insurance or a federal guarantee.
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A Big Win for PHH: Court of Appeals Vacates $109M CFPB Fine in RESPA Case. Judge Questions CFPB’s Unchecked Power

October 11, 2016
Paul Muolo
The judge in the case suggests that the CFPB director has more unchecked power than anyone in government with the exception of President Obama.
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Search Firm Approached Former Freddie Mac Executive About the Radian CEO Job

October 11, 2016
Paul Muolo
The search for a successor to S.A. Ibrahim is well underway…
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Short Takes: Investors Shrug at PHH Court Victory? / Life Will Go on at the CFPB… / Compass Point Says ‘Sell’ JPM / FBR Drops Coverage on USB, Three Others / New Hire for Starkey Mortgage

October 11, 2016
Paul Muolo
No huge gains for PHH's share price...
Read More
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