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House Passes TRID Safe Harbor Bill by Huge Margin; White House Veto Looming (If it Gets That Far)

October 8, 2015
Thomas Ressler
Although the TRID bill passed by a huge margin and with bi-partisan support, President Obama is threatening a veto.
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More Regulatory Headaches for Mortgage Firms: States Threaten Enforcement Actions for Faulty Data Submissions

October 8, 2015
Brandon Ivey
“The issues that have impeded the regulators’ ability to conduct electronic examinations must be rectified, and when resolved, will enable a more efficient and timely regulatory process,” said Karyn Tierney, chair of the MMC.
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PHH Taps Guild Mortgage Executive for JV; Realogy to Raise $1.15 Billion

October 8, 2015
Paul Muolo
Meanwhile, PHH's partner, Realogy, this week said it intends to raise $1.15 billion through the sale of senior notes.
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Short Takes: CFPB Issues Guidance on MSAs / Yes, the Agency Mentions ‘Kickbacks’ / Sen. Corker, Stock Picker, Says ‘Short’ Fannie and Freddie / He was Being Sarcastic! Lighten Up, IU!

October 8, 2015
Paul Muolo
Fear and loathing over marketing service agreements heats up. Kickbacks?
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GSE Business Volume Weakened in 3Q, But Purchase Deliveries the Best Since the Conservatorships Started

October 8, 2015
John Bancroft
Although overall MBS volume was down, lenders delivered a healthy $115.16 billion of purchase-money mortgages to the GSEs during the third quarter.
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Another Bank Admits to FHA Underwriting Violations: Fifth Third

October 7, 2015
Paul Muolo
Like many banks that have had run-ins with the DOJ and HUD IG, Fifth Third's FHA volume has fallen dramatically.
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Is IBM Considering Its Options on Seterus?

October 7, 2015
Paul Muolo
In general, IBM has rarely talked to the media about Seterus and its contract with the government-sponsored enterprise, or much else, for that matter.
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Thanks to TRID Deadline, New Mortgage Applications Soared by 25 Percent (Really)

October 7, 2015
Paul Muolo
It appears that lenders were encouraging their loan officers to get applications in before the Oct. 3 implementation of the new RESPA-TILA integrated disclosure rule.
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Short Takes: Senators Don’t Expect GSE Reform Anytime Soon / Shooting Down the White House GSE Rumor / What’s With Stonegate’s Stock Price? / Sale or Bust?

October 7, 2015
Paul Muolo and Carisa Chappell
When the news broke about Stonegate this past summer, FBR issued a note to its clients saying that, “We expect the company has two options: hire a replacement CEO quickly, or sell the business altogether.”
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More HMDA Takeaways: FHA Accounts for Most of the Higher-Priced Mortgages

October 7, 2015
George Brooks
Roughly 45 percent of FHA-insured, first-lien purchase mortgages had annual percentage rates in excess of the reporting threshold...
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