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HUD Chief: ‘Inaction Simply Not an Option’ on GSE Reform; Rumors of a Delay?

April 23, 2014
Charles Wisniowski
Sources tracking the bill’s progress believe that if those votes cannot be lined up in time, then next week’s markup could be delayed by a few days.
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Mortgage Closing Process, “Pain Points” Take Center Stage at CFPB Forum

April 23, 2014
Thomas Ressler
The bureau is expected to announce a pilot project to improve the mortgage closing process from A to Z for all stakeholders – not just consumers – an initiative likely to rely heavily on the industry’s technological capabilities.
Read More

FHFA May Seek Industry Input on G-Fee Hike

April 23, 2014
Paul Muolo
In January, newly sworn-in FHFA Director Mel Watt officially delayed a GSE guaranty fee increase that had been scheduled by his predecessor Edward DeMarco.
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Pingora’s MSR Investments Top $13 Billion

April 23, 2014
Paul Muolo
Company Chief Executive Michael Lau noted that Pingora is taking in roughly $2.5 billion a month through “flow” arrangements.
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Fannie Mae and Freddie Mac Deliver ‘Scorecard’ Comments to FHFA

April 23, 2014
Paul Muolo
The score card was the brainchild of former Acting FHFA director Edward DeMarco, who is retiring from the agency at the end of April.
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Short Takes: Lenders Begin to Loosen Credit Standards? / Ellie Mae Snafu Called ‘Bizarre’ / MBA, Others Want GSE Reform Now / Applications Slump Again / Sorry, No One’s Making Mortgages

April 23, 2014
Brandon Ivey, Paul Muolo, and Charles Wisniowski
As for details, a spokesman for the company said Ellie isn’t talking about the topic at this time. In an email exchange with IMFnews, mortgage technology consultant Tony Garritano of Progress in Lending called the whole episode “very bizarre”…
Read More

Ocwen Investors Getting Concerned About Latest Lawsky Probe?

April 22, 2014
Brandon Ivey
Some stakeholders said they called the firm’s investor relations department about the latest probe and were told the firm would be saying more about the matter when it reports first quarter earnings.
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RMBS Prepays Approaching Post-Crisis Low

April 22, 2014
Thomas Ressler
The conditional prepayment rate for prime jumbo, Alt-A and subprime loans dropped to 14.7 percent, 10.3 percent and 8.8 percent, respectively, in the first quarter of 2014, according to the ratings service.
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First Quarter Mortgage Complaints to CFPB Take a Huge Drop

April 22, 2014
Thomas Ressler
The strong improvement from last year was driven largely by a 46.8 percent plunge in grievances about loan modifications.
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Servicing Deal Makers Say MSR Market is Not Frozen

April 22, 2014
Paul Muolo
However, a new research report from Sterne Agee notes: “We see the DFS as the primary log jam on the servicing transfer front.”
Read More
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