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HARP Sets Record in First Quarter, but Rate of Growth Anemic

April 18, 2013
John Bancroft
Although the HARP program had record volume in the first quarter, the program is showing almost no growth, according to exclusive survey figures compiled by Inside Mortgage Finance.
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CFPB Deputy Director: Thousands of Nonbanks Will Be Subject to its Jurisdiction

April 17, 2013
Thomas Ressler
Nonbank mortgages lenders will not get a pass on CFPB scrutiny, a top regulator told a gathering of the American Bankers Association.
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Short Takes: Small Banks in Oklahoma Exit Mortgages Because of CFPB? / QM Rule Causes Fear and Loathing / Citigroup Aggressive in Jumbos / BofA Settles Countrywide MBS Case for $500 Mil / Applications Rise

April 17, 2013
Paul Muolo and Thomas Ressler
The CFPB is a tough cop on the beat, no doubt. But is the agency and its rules causing certain banks in Oklahoma to exit the residential lending sector?
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FHFA Hires Search Firm to Find CEO for MBS Platform, Candidates Approached

April 17, 2013
Paul Muolo
CEO candidates are being approached by the Federal Housing Finance Agency to run the new single-GSE MBS platform.
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Servicers Likely to Face Tougher Regulation Thanks to Botched Foreclosure Reviews

April 17, 2013
Brandon Ivey
Democrats in Congress have raised concerns about how five banks have responded to new servicing standards included in the $25 billion national servicing settlement.
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BofA Posts Another Mortgage Loss, GOS Falls, But Bank Grows Production with Refis at 91 Percent

April 17, 2013
Paul Muolo
Although all of Bank of America earned $2.6 billion in the first quarter, its mortgage business lost money thanks to legacy problems. Also, it appears the bank is addicted to refis.
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HUD Clarifies Procedures on ‘Self-Endorsed’ FHA Mortgages

April 17, 2013
George Brooks
The final HUD regulation marks the first time the agency has made changes to the LI program, which enables high-performing lenders to insure forward mortgages without a pre-endorsement review.
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CFPB Compliance Guide on ATR Rule Leaves Large Lenders Chomping at the Bit

April 16, 2013
Thomas Ressler
Banks continue to press the CFPB on their request that the agency use its exemption authority to extend the ATR rule's compliance deadline from 12 to 24 months.
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Ex-CFPB CIO Launches Compliance Venture for Third-Party Mortgage Investors

April 16, 2013
Paul Muolo
Tim Duncan, a past chief information officer for the CFPB, aims to protect third-party lenders from regulatory snafus with his new venture.
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Short Takes: Nationstar Mortgage Directors Clean Up / Flagstar Selling MSRs / Walter Wants to Keep Some Secrets / BofA’s Hit on Countrywide: $41 Billion / CFPB Deputy Director Meets the Hill

April 16, 2013
Paul Muolo and Thomas Ressler
Four non-management directors at Nationstar Mortgage earned almost $1.5 million last year. Meanwhile, it appears Flagstar is selling some of its MSRs.
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