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Ocwen Investors Getting Concerned About Latest Lawsky Probe?

April 22, 2014
Brandon Ivey
Some stakeholders said they called the firm’s investor relations department about the latest probe and were told the firm would be saying more about the matter when it reports first quarter earnings.
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First Quarter Mortgage Complaints to CFPB Take a Huge Drop

April 22, 2014
Thomas Ressler
The strong improvement from last year was driven largely by a 46.8 percent plunge in grievances about loan modifications.
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Servicing Deal Makers Say MSR Market is Not Frozen

April 22, 2014
Paul Muolo
However, a new research report from Sterne Agee notes: “We see the DFS as the primary log jam on the servicing transfer front.”
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MGIC Posts Strong Earnings, Stock Jumps 7 Percent

April 22, 2014
Paul Muolo
According to figures compiled by Inside Mortgage Finance, MGIC ranks second nationwide in terms of MI policies-in-force. Only Radian ranks higher.
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Short Takes: Ethos To Fund Loans in Colorado / Lawsky Wonders Aloud On Why Ocwen Does Not Love NY Realtors / Jumbo MBS Bust This Year? / Garrett Warns on CFPB / FHFA To Collect More Borrower Info

April 22, 2014
Brandon Ivey, Paul Muolo, Thomas Ressler, and Charles Wisniowski
The FHFA shortly will begin to collect additional, more specific and personal information on borrowers and loans as part of the National Mortgage Database project the agency launched with the Consumer Financial Protection Bureau.
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Big Banks Report Huge Decline in Mortgage Banking Income in 1Q14

April 21, 2014
Brandon Ivey
Mortgage-banking income at nine major banks declined by 27.7 percent in the first quarter of 2014 compared with the previous quarter, according to an analysis by Inside Mortgage Trends.
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Growing Opposition to Senate GSE Reform Could Stall Bill Markup

April 21, 2014
Charles Wisniowski
While Congress is halfway through its two-week Easter/Passover recess, political pressure continues to build against the Senate’s bipartisan housing finance reform legislation, leading to growing doubt whether the scheduled markup of the bill will occur as scheduled later this month.
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Fannie: Second-Home Mortgages Rebounding

April 21, 2014
Charles Wisniowski
A new report by Fannie Mae finds that second-home mortgage market activity is in the midst of a strong rebound, representing a small yet significant corner of the mortgage market.
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Short Takes: CFPB Releases Guide to RESPA and TILA Disclosure Forms/Fannie Forecasts Accelerated Economic Growth in 2Q 2014/FHFA 2014 Scorecard ‘Soon’/Congress Remains in Recess This Week

April 21, 2014
Thomas Ressler and Charles Wisniowski
ICYMI: Late last week, the Consumer Financial Protection Bureau released its guide to completing its integrated disclosure forms under the Real Estate Settlement Procedures Act and the Truth in Lending Act.
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Pilot from CFPB Will Aim to Digitize the Entire Mortgage Closing Process

April 18, 2014
Thomas Ressler
The CFPB plans to launch a pilot project as part of its efforts to improve the mortgage closing process.
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