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Signs of Life in Bulk MSR Sales but Bids Remain Weak

July 30, 2020
Paul Muolo
The bulk MSR market is on the mend but it’s hardly a “good news” story. Bids are weak and dealmakers are advising sellers to wait.
Read More

Former Freddie Chief Against Expanding FHLB Membership

July 30, 2020
Dennis Hollier
The “implied guarantee subsidy” that underpins the FHLBank operations is the reason why financial institutions of all kinds are clamoring for membership, according to former Freddie CEO Don Layton.
Read More

NYDFS Charges First American over Data Breach

July 30, 2020
Brandon Ivey
In its first cybersecurity-related enforcement action, the New York regulator charged First American Financial with inadvertently disclosing more than 850 million personal title insurance documents.
Read More

Industry U-turns on Disparate Impact, Calls for Rule Withdrawal

July 30, 2020
Maria Volkova
According to Ted Tozer, former Ginnie Mae president, lenders experienced aggressive disparate-impact litigation during the previous administration, resulting in initial support for revising the disparate impact rule.
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BofA Settles Disability Discrimination Claims for $300K

July 30, 2020
Yemeng Yang
Bank of America wrote policies between 2010 and 2016 that denied mortgages and HELOCs to adults with disabilities who were under legal guardianships or conservatorships.
Read More

Production Boom Creating ‘Millionaire’ LOs? Yes, Some

July 23, 2020
Paul Muolo
Just how good are loan volumes these days? Answer: there’s plenty of talk about LOs earning $1 million this year and buying Teslas.
Read More

Applause (and Questions) Over Quicken’s 2Q20 Profit

July 23, 2020
Brandon Ivey and Paul Muolo
It’s one for the record books: A $3.55 billion second-quarter profit for Quicken parent Rocket Companies. But how did they do it?
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Fannie and Freddie 2021 Housing Goals Unchanged

July 23, 2020
Dennis Hollier
The Federal Housing Finance Agency said it lacks sufficient data to create statistical models to “reflect economic conditions for 2021” because of the market disruption caused by the coronavirus.
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Democrats Criticize Servicers’ Handling of Pandemic Relief

July 23, 2020
Brandon Ivey
At a congressional hearing, Democrats on a House subcommittee detailed instances where mortgage servicers provided initial relief for only 90 days compared to a 180-day mandate under the CARES Act.
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CoreLogic Rejects Due Diligence Request from Investors

July 23, 2020
Yemeng Yang
The analytics vendor declined to open its books to two major investors, who in late June made an unsolicited $7 billion takeover bid for the company.
Read More
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