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Banks Package GSE-Eligible Loans in Non-Agency MBS

October 23, 2019
Brandon Ivey

JPMorgan Chase Bank and Flagstar Bank are separately issuing MBS backed by mortgages eligible for sale to Fannie Mae and Freddie Mac.


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Short Takes: Flagstar 3Q Production / GSE Reform Testimony Commences / Falling Existing Home Sales / QM Rule Suggestion / New Hires at Promontory MortgagePath

October 22, 2019
Yemeng Yang

Flagstar Bancorp originated $9.3 billion home mortgages in the third quarter, posting a net profit of $63.0 million, according to figures released Tuesday morning ...


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A Decline in CFPB Mortgage Complaints. Applications the Exception

October 21, 2019
Yemeng Yang

The nation’s largest lender/servicer Wells Fargo drew the most gripes, with Mr. Cooper and Ocwen Financial, finishing second and third respectively.


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In the Regulatory Spotlight Once Again: VA IRRRL Abuses

October 21, 2019
Paul Muolo
The Collingwood Group released an update to clients and others, detailing the matter at hand.
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SCOTUS Agrees to Review CFPB Constitutionality Case

October 21, 2019
Yemeng Yang
The U.S. Supreme Court agreed to review a case challenging the CFPB’s constitutionality. The court directed both parties to file briefs on a possible remedy.
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Industry Groups Want Additional HMDA Data Points Removed

October 21, 2019
Yemeng Yang
Five industry groups have asked the CFPB to eliminate certain data points from the Home Mortgage Disclosure Act requirements. On the other hand, the NAHB is seeking reporting of more data fields.
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Temporary HMDA Relief Extended for Small Firms

October 21, 2019
Yemeng Yang
The CFPB has extended the temporary coverage threshold for open-end lines of credit under HMDA by two years while it is considering increasing permanent thresholds for both closed- and open-end loans.
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Other News in Brief

October 21, 2019
Yemeng Yang

A Strong Origination Quarter for the Merger-Bound SunTrust

October 21, 2019
Paul Muolo

Roughly 65.1% of SunTrust’s production came through the correspondent channel.


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Dems Set Targets for CFPB Student Loan Ombudsman

October 21, 2019
Yemeng Yang
Democratic senators have asked Ombudsman Robert Cameron how he plans to deal with potential conflicts of interest tied to his previous employer, a federal student loan servicer.
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