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Credit Unions Want Relief from CFPB Rules

March 27, 2013
Thomas Ressler
The credit union industry has appealed to the U.S. Senate for relief on rules and regulations coming out of the CFPB.
Read More

Armed with $500 Million in Cash, Sterling Now Actively Bidding on MSRs

March 27, 2013
Paul Muolo
Sterling Partners of Chicago is one of many private equity firms eying servicing rights as an investment. But so far, it has yet to win any bids.
Read More

Servicers Will Solicit Candidates Under New FHFA/GSE Modification Initiative

March 27, 2013
Paul Muolo
Severely delinquent Fannie Mae/Freddie Mac borrowers may get a shot at a streamlined refi under a new program unveiled Wednesday.
Read More

FHA Coverage Spikes in January, Wells and Quicken Lead the Pack

March 27, 2013
George Brooks
Try as they might, the government cannot keep a good MI program down. FHA endorsements rose almost 19 percent in January.
Read More

Short Takes: Are Loan Standards Really Loosening? / Two Harbors Looking Frothy? / Oil, Gas, and Servicing / Senate Banking Committee Chairman Retiring? / The Never Dying Story: Force-Placed Insurance

March 26, 2013
Paul Muolo, Thomas Ressler, and George Brooks
Urban legend: mortgage lenders are beginning to loosen loan standards. Well, maybe only for "rich" clients.
Read More

Feds Scramble to Fulfill Dodd-Frank, Despite Hiring Binge

March 26, 2013
Thomas Ressler
In spite of the influx of new human resource assets, banking regulators have a mixed effectiveness when it comes to compliance with their own Dodd-Frank obligations.
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Moody’s Critical of AAA Ratings on Chase’s Jumbo MBS

March 26, 2013
Brandon Ivey
Moody’s said the JPMorgan Mortgage Trust 2013-1 has a weak representations and warranties framework, a restrictive rep and warrant enforcement mechanism and a lack of risk retention by Chase.
Read More

IG Slams FHFA For Lack of Monitoring on How It Oversees Contractual Compliance

March 26, 2013
Charles Wisniowski
When Fannie Mae and Freddie Mac work with counterparties, they have contractual agreements that loans sold to them comply with federal and state laws governing the origination and servicing of mortgage loans.
Read More

Interest-Only Originations Rose by Almost 20 Percent in 2012

March 26, 2013
Brandon Ivey
Interest-only lending picked up steam in 2012 despite new regulations that make the loans less attractive from a 'qualified mortgage' point of view.
Read More

Are Nonbanks Aggressively Courting LOs From The Megabanks?

March 26, 2013
Paul Muolo
One loan officer was lured away by an offer of making $20,000 per month, Inside Mortgage Finance was told.
Read More
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