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MBA Sends 22-Page Letter to CFPB Asking Specific Questions About TRID

May 12, 2015
Paul Muolo and Thomas Ressler
As the TRID deadline moves closer, industry anxieties are getting stronger and more specific in nature.
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Short Takes: Former FHA Chief Stands With Quicken / No FCA for Stevens / Cherry Hill Posts Small Loss / Nomura Loses / Biweekly Provider in CFPB Crosshairs / Milestone for DocMagic

May 12, 2015
Paul Muolo, Thomas Ressler, Brandon Ivey, and Carisa Chappell
Stevens also said that while he was FHA commissioner he chose not to go after lenders for violating the False Claims Act because he said such actions would have opened a “Pandora’s Box.”
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Purchase Market Starts to Rev Up in April, but Refis Still Key

May 12, 2015
John Bancroft
Fannie and Freddie securitized $26.34 billion of purchase mortgages in April, a 24.3 percent increase from the previous month.
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Cut in FHA Premiums Causes Ocwen to Take a Ginnie Mae MSR Charge

May 12, 2015
Paul Muolo
Last fall, Ocwen tried to sell its Ginnie Mae servicing rights, but recently disclosed that it will keep the receivables instead...
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Five Oaks Takes Loss in 1Q from Jumbo MBS Activities, Interest Rate Hedges

May 12, 2015
Brandon Ivey
Five Oaks' management noted that the REIT has better control of its jumbo MBS exposure since the company issued its own security in April.
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Independent Lenders Sidle Up to the VA Origination Trough

May 11, 2015
John Bancroft
VA originations by state-licensed lenders rose 14.5 percent from 2013 to 2014.
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FHFA Wants More Workplace, Business Diversity from FHLB System

May 11, 2015
Carisa Chappell
The FHLBs and Office of Finance must now be more specific and include descriptions of their outreach activities in regard to minorities and women.
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Short Takes: Fidelity Set to ‘Spin Off’ Black Knight via an IPO / A Flow Chart is Required / Lots of Spin-Offs / Remember HomeSide Lending? / Shrinking Loss Reserves at the GSEs / Auction.com’s New Hire

May 11, 2015
Paul Muolo and Carisa Chappell
Fidelity, a market leader in title insurance, has a market capitalization rate of $10.6 billion and is headed by William Foley, age 70, who has a history of spinning off companies.
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MountainView and Phoenix Out with New Bulk MSR Deals

May 11, 2015
Paul Muolo
Interactive Mortgage Advisors, MIAC and The Prestwick Group are working on deals as well.
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Nonbank Mortgage Firms Report Group Profit for 1Q but Lag Depositories

May 11, 2015
John Bancroft
The eight nonbanks – including the top publicly traded firms that rank high in originations, servicing or both – posted a combined $40.5 million in mortgage-banking income during the first quarter.
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Latest Imf News

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