The $17 million reserve will be booked as part of Walter's third quarter earnings.

Banks were the top nine jumbo lenders, led by Wells Fargo with $41.49 billion in originations, accounting for a healthy 15.8 percent of all jumbo lending.

Specialty servicer Wingspan is expected to issue a press release this week, providing some clarity about a change of control at the company and the future of its founder...

Given the wide gap between the initially unacceptable findings and the subsequent “refresh” results, some lenders may ask the FHA to discontinue its disclosure of initially unacceptable findings.

However, the CFPB official said the no-action letters would not give a requesting entity an exemption from complying with any statutory or regulatory rules.

One forensic accountant said of the matter: “Basel basically treats MSRs as a toxic asset. It’s a huge topic.”

Along with the news of a larger repo facility, some executive changes have occurred as well.

The Community Home Lenders Association has asked new HUD secretary Julian Castro for a “meaningful reduction” in the FHA’s annual premiums…

The good news is the CFPB is proposing updates to its integrated disclosure final rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act. The bad news is the CFPB is proposing updates to its integrated disclosure final rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act. The final rule – commonly known as the “TRID” – has been high on the mortgage lending industry’s list of concerns ever since it came out nearly a year ago. And with every rule issued, there are calls from one segment of the industry or another for various additions, deletions or modifications. As happy as industry representatives are when the CFPB makes such a concession, they ...

The CFPB is proposing to implement a limited “no-action letter” policy to reduce the regulatory uncertainty that may exist for certain emerging products or services which stand to benefit consumers. This proposed policy is suited for new financial products or services where there may be uncertainty about how they fit in the existing statutes and regulations – assuming such products or services hold the promise for significant consumer benefit, according to CFPB Financial Analyst Dan Quan. The proposed policy would allow bureau staff to send a no-action letter to a company informing it that the CFPB isn’t planning to recommend initiation of supervisory or enforcement action in connection with a firm’s offering or provision of a new product. Also, an NAL ...