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DeMarco Touts Common Securitization Platform on His Way Out

April 16, 2014
Charles Wisniowski
With Mel Watt remaining silent, Ed DeMarco used one of his last days at the Federal Housing Finance Agency to reminisce.
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BofA’s Mortgage Settlements Lead to Loss in First Quarter, Originations Decline

April 16, 2014
Brandon Ivey
BofA's mortgage-related settlements led to a loss for the lender in the first quarter of 2014.
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SHORT TAKES: U.S. Bank's Originations Drop / Purchase-Mortgage Applications Remain Down / Servicing Up for Bid / CFPB Forum on Mortgage Closings / Foreclosure Rescue Scams

April 16, 2014
Thomas Ressler and Brandon Ivey
U.S. Bank's mortgage originations in the first quarter of 2014 declined by 71.2 percent compared with the first quarter of 2013.
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Purchase-Mortgage Volume Sank in Early 2014

April 16, 2014
John Bancroft
Purchase mortgages securitized by Fannie, Freddie and Ginnie in the first quarter of 2014 were down by 76.3 percent compared with the first quarter of 2013.
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GSEs Will Comply with Chicago's Vacant Property Rule But Not Pay Under Settlement by FHFA

April 15, 2014
Charles Wisniowski
The FHFA and Chicago settled a legal battle that started in November 2011 regarding maintenance and fees for vacant properties.
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Steve Cohen’s SAC Ups Stake in Walter Investment

April 15, 2014
Paul Muolo
Walter, through its affiliate Green Tree Loan Servicing, is a top 10 ranked servicer, according to figures compiled by Inside Mortgage Finance.
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SHORT TAKES: Negative Outlook / Fannie to Assess Late Fees / Servicers Implement CFPB Rules / Crowdfunding Servicing Purchases / Johnson-Crapo Outlook

April 15, 2014
Brandon Ivey
DBRS suggests it's likely that most of the U.S. population won't be able to qualify for a mortgage any time soon...
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Mortgage Complaints to CFPB See Big Drop from Year Ago

April 15, 2014
Thomas Ressler
Mortgage-related complaints to the CFPB as of the first quarter of 2014 were down significantly compared with the previous year, though they increased compared with the fourth quarter of 2013.
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Ellie Mae: Encompass Outage Wasn’t Due to an Attack, There was No Data Breach

April 15, 2014
Brandon Ivey
The outage of Ellie Mae's Encompass systems at the end of the first quarter appears to be due to a malfunction on Ellie Mae's end, not a malicious attack.
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Freedom of Information Act Ruling Goes in Favor of the CFPB

April 14, 2014
The issue of the recess appointment of Richard Cordray as director of the CFPB may finally have been put to rest now, after the U.S. District Court for the District of Columbia dismissed the last remnants of a case brought by the watchdog group, Judicial Watch, under the Freedom of Information Act. Back in September, the court ruled that the CFPB had properly discharged its FOIA obligations in the case for all the documents at issue except one, an e-mail from a White House staffer to a CFPB employee. At the time, “the court agreed with the CFPB’s position that it was entitled to rely on the deliberative process privilege, the attorney client/attorney work product privilege, or the presidential communications...
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