Mortgage-related complaints to the CFPB are falling through the floor on just about every key metric, according to the latest analysis of bureau data by Inside the CFPB, fueled mostly by a plunging in gripes about loan modifications. The data reflect the depressed levels of mortgage originations in recent years as well as a continued rebound in home price appreciation. The plunge is most notable when comparing first-quarter 2015 numbers with the same period last year. For instance, total consumer gripes about their home loans fell 33.5 percent in 1Q15 versus 1Q14. The fall in belly-aching about loan mods was even more dramatic, down 38.6 percent, the data show.Consumer criticisms about mortgage servicing also declined markedly but not quite ...
CFPB Community Bank Advisory Council Meeting April 22. CFPB Director Richard Cordray plans to discuss credit scores and credit reporting and the related implications for community banks when the bureau convenes the next meeting of its Community Bank Advisory Council on April 22, from 3:00 p.m. to 4:30 p.m., in Washington, DC. The event is scheduled to be held at the bureau’s location at 1275 First Street, N.E., and is open to the public, but an RSVP is required to attend. CFPB to Hold Research Conference May 7-8. The CFPB plans to host its first research conference May 7-8, 2015. The conference will focus on high-quality consumer finance research, with academic and government researchers presenting their research papers. “The goal ...
The trend reflects the surge in VA home loan originations over the past few years at a time when the FHA has lost market share to private mortgage insurers.
G-fees will stay the same while the adverse market charge will be eliminated and certain loan-level pricing adjustments will increase. The FHFA also released private mortgage insurer eligibility requirements.
The Blackstone Group, an investment banking powerhouse, has purchased Gateway Funding Services, Horsham, PA, and plans to use the nonbank as its platform to ramp up originations, servicing investments and MBS issuance, according to industry officials familiar with the situation. As Inside MBS & ABS went to press this week, the Blackstone Group had not responded to a media inquiry on the matter. Gateway also could not be reached, but according to ...
The Community Home Lenders Association wants a portion of the quarterly profits that Fannie Mae and Freddie Mac give to the Treasury Department put in a reserve account to help smaller mortgage lenders, according to a recent letter the trade group wrote to Treasury Secretary Jack Lew. The group contends that the Preferred Stock Purchase Agreement funds should be set aside in a reserve account to capitalize a cash window for smaller mortgage lenders that would ...
In the jumbo MBS sector, mortgage firms issued $4.60 billion of bonds in 1Q, a hefty 20.3 percent increase from 4Q and more than triple the volume posed during the first three months of 2014.
Laurie Goodman, director of the Urban Institute’s Housing Finance Policy Center, is among those who support Treasury’s push to include a deal agent in the benchmark non-agency MBS.
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