"Contrary to the fable told by the left, the root cause of the financial crisis was not deregulation but dumb regulation," said House Financial Services Committee chairman Jeb Hensarling, R-TX.

In trading Tuesday, Impac’s common was selling for $9.15, which means the 500,000 shares could be worth $4.5 million.

The division, Arch Mortgage Guaranty Corp., has been rated A3 by Moody’s Investor Service, the highest rating an MI can receive.

The FHFA is still evaluating input regarding g-fees and but Watt has no idea if they will be reduced, increased or kept at their current levels.

“Sub debt is a good way to grow your business without it being dilutive to your company,” said Bill Dallas, CEO and founder of Skyline Lending.

Elsewhere, the latest figures from the CFPB show a big reduction in consumer belly-aching about loan modifications...

The reconstituted House Financial Services Committee recently adopted an oversight plan for the 114th Congress – and scrutiny of the CFPB remains part of the agenda of the Republican-controlled committee. “The committee will oversee the regulatory, supervisory, enforcement, and other activities of the CFPB, the effect of those activities on regulated entities and consumers, and the CFPB’s collaboration with other financial regulators,” said the plan document. “The committee will also examine the governance structure and funding mechanism of the CFPB.” When it comes to specific sectors of the financial services industry, the committee said it plans to closely review recent rulemakings by the CFPB and other agencies on a variety of mortgage-related issues. “The committee will monitor the coordination and implementation ...

Nearly half of the people who buy a home do not shop for the mortgage they end up with, according to a new report from the CFPB. “When we say that almost half of consumers who take out a mortgage to buy a home fail to shop before applying for a mortgage, this means they seriously considered only a single lender or broker before making their decision,” CFPB Director Richard Cordray said. By contrast, most homebuyers put a lot of effort into weighing their differing housing needs. They generally consider the most basic questions about which house to buy, such as where they want to live, the proximity to good schools, and how many bedrooms or bathrooms they think they ...

Even though mortgage-related complaints to the CFPB fell 14.5 percent year over year and 16.1 percent percent quarter to quarter, gripes about the mortgage loan application and origination process dropped even further, a new analysis by Inside the CFPB shows. Consumer criticisms about their loan apps and the overall origination process fell 22.8 percent from 2013 to 2014. The fourth quarter drop-off was even better, down 28.0 percent from the third quarter. While those performances are positive on the surface, they may be indicative of larger trouble elsewhere: in the case of the U.S. mortgage market, the fall in complaints about loan apps and originations is most likely largely due to the continued slow-down ... [with exclusive chart]...

When it comes to legal cases at the Supreme Court of the United States, score one for the CFPB. Earlier this month, in Jesinoski v. Countrywide, the SCOTUS essentially upheld the bureau’s position on borrower rescission of a mortgage under the Truth in Lending Act. Specifically, the high court unanimously ruled that TILA only requires written notice to a mortgage lender within three years in lieu of requiring a borrower to formally file a lawsuit within that time span. Under TILA, a borrower may rescind a mortgage within the first three days of consummation of the transaction or the delivery of the mandated disclosures required. However, if a lender fails to make the disclosures demanded under TILA, this right is ...