The OCC’s language was not as strong as earlier reassurances from the CFPB that it would not be taking a “gotcha” or punitive approach when it commences with TRID examinations…

At the end of fiscal year 2015 the two GSEs had combined REO holdings of 78,738 units, a 36 percent decline from the prior year…

A number of different firms handle servicing on the loans, led by Ocwen Financial with a 54.1 percent share.

In a past audit, the OIG criticized the FHFA for lacking a “sufficient number of examiners.” In the new budget, the FHFA plans to increase its examinations head count to 275 from 248 in FY 2015.

In January, Birch Run reported a 17.8 percent ownership stake in Walter, but has since increased it to 19.8 percent.

This observer, requesting anonymity, said bluntly that the MBS “trade” is over, a summation that is bolstered in part by so many Wall Street firms either closing their trading desks or scaling back...

Jumbo mortgages have provided commercial banks and thrifts with good profits margins. Of course, it helps that deposit rates are almost non-existent.

Buyer Agents Report Delays in Closing, Thanks to TRID. One month into the CFPB’s Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rule, some real estate closings are already being affected, according to a recent survey conducted by the National Association of Exclusive Buyer Agents. The survey went out to brokers across the U.S. and nearly 20 percent said they are already seeing issues, mostly delays in closing. According to one respondent, “Lenders are almost all asking for 45 days to closing versus the previous 30 days.” Another respondent stated, “We’ve been advised to prepare for further delays until everyone has more experience with the new CFPB/TRID regulations.” “At NAEBA, we applaud the CFPB for its efforts ...

Are Home Builders Next on the CFPB’s MSA Hit List? Lender anxiety tied to the CFPB’s crackdown on marketing services agreements is reaching a new fever pitch these days, while spreading to other sectors of the housing finance industry, namely home builders and Realtors. Industry officials interviewed by Inside Mortgage Finance, an affiliated newsletter, recently said title insurance affiliates owned by Realtors and home builders are a particular area of concern – namely pushing customers into using service providers in which they have an ownership stake. “I’ll tell you where the RESPA [Real Estate Settlement Procedures Act] violation is – it’s pressing customers into using their title company,” said one trade group executive. “The idea is that the consumer gets to pick ...

Consumer complaints about debt collectors appear to be improving somewhat, according to the latest analysis by Inside the CFPB of data submitted to the bureau. Gripes were down 9.4 percent during the third quarter, but off a barely perceptible 0.3 percent at the nine-month mark versus a year ago. Many of the top 50 companies ranked by number of complaints saw drops of double digits during the period ending Sept. 30, 2015, whereas a handful of companies saw consumer grumbling rise by triple digits year over year. In some instances, however, both dynamics occurred at the same company, the data show.Complaints about collection attempts were the leading consumer criticism, followed by disclosure verification and communication tactics. Supervisory Illustrations On...