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Lender Recommendations from Real Estate Agents Tied to Closing Issues

April 10, 2013
Brandon Ivey
Two-thirds of the nearly 2,000 real estate agents that responded to a Campbell Communications and Inside Mortgage Finance survey want mortgage closings in 30 days or less.
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Wells Fargo Searching for Executive to Aid the Bank in Selling Servicing

April 9, 2013
Paul Muolo
Wells Fargo is in the hunt for a top servicing executive to aid the bank in its pursuit of MSR sales, sources told Inside Mortgage Finance.
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Short Takes: Will Obama Show at the White House Mortgage Meeting? / JPMorgan and Citi Clean Up on Captive MI Business / Radian Sees New Business Gaining / Aging Appraisers?

April 9, 2013
Paul Muolo, John Bancroft, and Thomas Ressler
In two weeks the White House will meet with some of the largest residential funders in the U.S. But will President Obama show?
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Non-Agency Jumbo MBS Issuance Took Off Like a Rocket in First Quarter

April 9, 2013
Brandon Ivey
Just how hot is the jumbo MBS market? Consider this: Some $3.95 billion in non-agency jumbo MBS was issued in the first quarter, compared with $3.46 billion in issuance in all of last year.
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BofA Settlement Boosts NCUA Recoveries From Bad MBS Deals

April 9, 2013
George Brooks
The National Credit Union Administration keeps racking up the "wins" in its drive to recover losses on faulty MBS sales.
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U.S. Bank Names Rick Aneshansel New Mortgage Chief

April 9, 2013
Paul Muolo
U.S. Bank, one of the largest residential lenders and servicers in the nation, has a new president.
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National Sales Director Departs Green Tree Servicing

April 9, 2013
Paul Muolo
Steve Stein, national sales director, has departed Green Tree Servicing, but the company isn't returning telephone calls and emails about the matter.
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Around Town/Looking Ahead/Also On Our Radar

April 8, 2013
New Treasury Secretary Jack Lew chaired the regularly scheduled meeting of the Financial Stability Oversight Council, of which the CFPB is a member, in a closed session at Treasury last week. The CFPB, which is using the disparate-impact standard as the basis of its actions, is assigning a fair lending staffer to every supervision exam; conducting fair lending investigations; and striking alliances with the Department of Justice, as well as the Department of Housing and Urban Development and other regulators, we’ve been told...
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Contracting Processes Could Use Better Internal Controls, OIG Finds

April 8, 2013
The CFPB’s contract solicitation and selection processes are generally in compliance with federal regulation, but the bureau could do more to shore up internal controls, according to the results of an evaluation by the Federal Reserve Board Office of Inspector General.“We found that the CFPB’s processes and practices were compliant with particular Federal Acquisition Regulation requirements, such as performing acquisition planning and market research, providing opportunities for companies to compete for CFPB contracts, and...
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Auto Dealers Take Issue With CFPB Guidance on Auto Lending

April 8, 2013
Two major auto dealer trade groups have some serious objections to the guidance the CFPB put out last month on auto lending, particularly taking issue with whether the CFPB’s position on dealer rate participation is going to make much difference in helping car buyers. The National Automobile Dealers Association and the National Association of Minority Automobile Dealers said the guidance issued by the bureau attempts to force auto finance sources into changing the way they compensate dealers without any indication that...
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