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SEC Settles Insider Trading Charges Tied to Equifax

August 25, 2022
Brandon Ivey
Based on insider information about a then-undisclosed data breach at Equifax, Lawrence Palmer and Jerrold Palmer through accomplices had shorted shares of the company.
Read More

Grapevine: Oh Cyclicality! / Exceptions to the Rule

August 25, 2022
Paul Muolo
Residential finance can be cyclical, but what inning is the correction in? Investors are willing to buy mortgage company debt...but at a price.
Read More

Working in Tandem, Ginnie and FHFA Finalize Eligibility Standards

August 18, 2022
Paul Muolo and Dennis Hollier
Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
Read More

Cenlar Beefs Up Its Default Team. As for Why…

August 18, 2022
Paul Muolo
When it comes to default management hires, subservicer Cenlar has been a busy bee, adding a handful of new VPs. Is it expecting an increase in delinquencies or is something else afoot?
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Delinquencies, Foreclosures Exceptionally Low in 2Q22

August 18, 2022
Brandon Ivey
The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)
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FHFA Tweaks GSEs’ Goals for Multifamily in 2023-24

August 18, 2022
Dennis Hollier
The GSEs will now focus on the percentage of multifamily units that meet affordability standards rather than the actual number.
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CSBS Promotes Cybersecurity Tools for Nonbanks

August 18, 2022
Monica Hogan
The Conference of State Bank Supervisors unveiled two new tools to help state examiners assess nonbanks’ resilience against cyberattacks.
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Sources: Sprout CEO Selling Manhattan Penthouse

August 18, 2022
Sam Manas
It appears that Michael Strauss, CEO of now-shuttered Sprout Mortgage, is looking to sell his Manhattan penthouse on Park Avenue for $26.5 million.
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Equifax Credit Score Snafu May Have Had Wider Impact

August 18, 2022
Dennis Hollier
A plaintiff in a class-action lawsuit claims the Equifax credit score glitch cost her more on auto loan payments.
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Grapevine: A Reduced Mortgage Presence for Wells?

August 18, 2022
Paul Muolo
The market continues to chatter about Wells Fargo’s future in mortgages. Meanwhile, time to cash out of home finance?
Read More
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