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As GOP Complains, CFPB’s Cordray Defends Agency’s Data Collection Efforts

April 24, 2013
Thomas Ressler
Republicans in Congress worry about the CFPB collecting too much data on consumers but are their concerns overblown?
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S&P Strikes Back on MBS Case, Calls Government’s Fraud Lawsuit ‘Overreach’

April 24, 2013
Charles Wisniowski
Standard and Poor's is fighting back against the federal government in its $5 billion MBS fraud case.
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Short Takes: CFPB Showing Some Love for Banks / Fannie About to Award a Big Tech Contract? / FHFA Doesn’t Want Higher Minimum Net Worth / Home Buyer Traffic Spikes / 100 Percent LTV Loans Not on NCUA’s Radar?

April 23, 2013
Paul Muolo
Residential lenders can rest easy: the GSEs aren't about to hike their net worth minimums. Also: the CFPB shows some love to banks.
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House Banking Chairman Won’t Let CFPB’s Cordray Testify

April 23, 2013
Thomas Ressler
Although Rep. Hensarling rebuffed Cordray, the CFPB chief delivered the agency’s semi-annual report to the Senate Banking Committee Tuesday morning.
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Prices Climbing for Jumbo Mortgages

April 23, 2013
Paul Muolo
The jumbo market is heating up, which means the price paid for whole loans is on the rise.
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Vericrest the High Bidder on $16 billion of BofA MSRs

April 23, 2013
Paul Muolo
Vericrest Financial is said to be the winning bidder on a $16 billion package of mortgage servicing rights. However, the company would not comment.
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ASF Suggests Ways for Fannie and Freddie to Reduce Their Market Share

April 23, 2013
Brandon Ivey
ASF suggests that one way to reduce the market share of the GSEs is to hike guaranty fees once again.
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PennyMac Sees Correspondent Purchases Decline, Jumbo MBS Coming

April 23, 2013
Brandon Ivey
PennyMac once again posted strong earnings, but the REIT's correspondent purchases are beginning to slow somewhat.
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Short Takes: Need Seller/Servicer Approvals? Bring Your Check Book / IMA Selling Ginnie Bulk MSR Deal / Fitch Worries About CMBS / Will the Senate Grill CFPB’s Cordray? / New Hire at WFG National Title

April 22, 2013
Paul Muolo and Thomas Ressler
Obtaining approvals to become a GSE seller/servicer can cost you, but think of the money you can make from owning servicing rights.
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Bureau IDs Problems Seniors Face with Financial Advisers

April 22, 2013
The CFPB put out a report last week that highlights problems with more than 50 “senior designation” credentials that many financial advisers use to market their services to older Americans. “With such a bewildering array of titles and acronyms, it is no wonder that older Americans are confused and misled,” said CFPB Director Richard Cordray. The report “underscores the need for consistent high-level standards of training and conduct for those advisers who want to acquire a bona fide senior designation.” The report found that the...
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