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CFPB Accuses Castle & Cook of Paying 500 Quarterly Bonuses Tied to Loan Terms

July 24, 2013
Paul Muolo
If the CFPB is successful in its case against Castle & Cook, will the loan officers have to pay back the bonus money?
Read More

As PATH Markup Begins, NAR Announces its Opposition to the GSE Bill

July 23, 2013
Charles Wisniowski
NAR's oposition falls primarily in two areas: The PATH Act does not include an explicit federal guaranty and the bill dramatically restructures the FHA.
Read More

Short Takes: Skyline Looking for Loan Officers / Highlands Residential Has Applications Pending in Several States / Freddie Mum on Risk-Sharing MBS Deal / Quicken Continues to Push HARP / Democrats Call Hensarling Bill ‘PATH to Nowhere’

July 23, 2013
Paul Muolo, Brandon Ivey, and Charles Wisniowski
The hiring news isn't all bad in mortgage banking: Skyline Home Loans is looking for loan officers and Highlands recently hired some top executives.
Read More

GAO Finds FHA is Lagging the GSEs, VA in REO Disposition

July 23, 2013
George Brooks
On average FHA took 340 days to sell REO properties based on dispositions from January 2008 through June 2012, compared to just over 200 days for Fannie, Freddie and VA.
Read More

Specialty Servicer Statebridge Gets Cash Investment to Grow Platform

July 23, 2013
Paul Muolo
Statebridge, which was founded in late 2008, is looking to grow its subservicing platform. The company is licensed in all 50 states.
Read More

Thanks to Higher Rates, Mortgage IPOs Could Prove More Difficult

July 23, 2013
Paul Muolo
The easy money may be over for mortgage IPOs, but that doesn't mean deals won't get done.
Read More

JPM Ready to Hit the Market with Yet Another Jumbo MBS Deal

July 23, 2013
Brandon Ivey
The rating services have raised concerns about the representations and warranties on the new JPM jumbo deal as well as geographic concentration risk.
Read More

Short Takes: Higher Rates Good for Nonprime / Denali CU Keeps its Mortgage Powder Dry / HUD Goes Dark for a Day / The General Public Hates Fannie, Freddie / Congress, Hot Weather and Housing Issues

July 22, 2013
Paul Muolo, George Brooks, and Charles Wisniowski
Loan applications are strong at Citadel, a newly launched nonprime lender. HUD goes on furlough for a day.
Read More

UBS Will Pay $745 Million to Settle Fannie/Freddie MBS Case

July 22, 2013
Charles Wisniowski
FHFA sued UBS in 2011 over $4.5 billion in RMBS securities that the bank sponsored and $1.8 billion in third party RMBS sold to Fannie Mae and Freddie Mac.
Read More

Fannie Cuts Origination Forecast for 2013 and 2014

July 22, 2013
Paul Muolo
Purchase money lending will increase in 2014 but overall originations could swoon, according to a revised forecast from Fannie Mae.
Read More
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