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Bank of America Confirms Job Cuts in Its LandSafe Unit

March 13, 2013
Paul Muolo
A declining inventory of problem home mortgages and REO played a key role in Bank of America slashing the workforce of LandSafe by roughly 10 percent.
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Redwood to Issue its Fourth Non-Agency Jumbo Deal of the Year

March 13, 2013
Brandon Ivey
Redwood Trust is coming to the jumbo well once again. Its new MBS is roughly $577 million in size.
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Short Takes: Mortgage Master Top Lender in Massachusetts? / Nationstar Mortgage Executives Selling Shares / Help Save the FHA Multifamily Program

March 12, 2013
Paul Muolo and George Brooks
Is privately held nonbank Mortgage Master the Big Kahuna of residential lending in Massachusetts?
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Ocwen Continues to Gobble Up MSRs with $85B Ally Deal

March 12, 2013
Paul Muolo
The fast growing Ocwen Financial won the bid for Ally Financial's residential servicing portfolio.
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Supreme Court Opinion May Ultimately Limit MBS Damages

March 12, 2013
George Brooks
A new Supreme Court opinion may force the SEC to speed up its investigation of certain MBS fraud cases.
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Warehouse Lenders Saw Commitments Jump in 2012

March 12, 2013
Paul Muolo
When residential originations thrive, so does the warehouse lending sector, and 2012 was no exception.
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GOP Voices Concern on CFPB Contract Expenses, No Vote on Cordray This Week

March 12, 2013
Thomas Ressler
The GOP wants to know why the CFPB has spent so much money on outside contractors.
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Fannie Working on Changes to Buyback Policies

March 12, 2013
Paul Muolo
Fannie Mae is working on changes that may give some mortgage bankers relief on buybacks.
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SEC Nominee Mary Jo White: Enforcement a “High Priority”

March 12, 2013
Charles Wisniowski
Wall Street executives involved in MBS fraud may not be off the hook quite yet.
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Legislation to Watch

March 11, 2013
H.R. 450: The Bureau of Consumer Financial Protection Accountability Act, introduced by Rep. Bill Posey, R-FL, would amend the Consumer Financial Protection Act of 2010 to bring the CFPB into the regular appropriations process. The bill is a re-introduction of H.R. 1640 from the 112th Congress. Current status: referred to House Financial Services Committee. S. 190: The Restoring the Constitutional Balance of Power Act of 2013, introduced by Sen. Mike Johanns, R-NE, would prohibit the transfer of funds from the Federal Reserve that would be used by the CFPB “to carry out activities that are authorized...
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