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Senate Panel Gives Monty the Greenlight for Key HUD Post

December 12, 2019
George Brooks

Industry veteran Brian Montgomery this week moved a little closer to getting the No. 2 job at HUD after the SBC gave him the thumbs-up. Next stop: the full Senate.


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Calabria Says He's Reduced GSE Risk. More to Come?

December 12, 2019
Dennis Hollier

The nation's GSE regulator meets the Federalist Society: “What we’ve been able to do in the eight months that I’ve been here is cut the percentage of business that has multiple risk factors in half."


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Feds Cautiously OK Use of 'Alt' Data in Underwriting

December 12, 2019
Yemeng Yang

Financial regulators are backing “responsible use” of alternative data in loan underwriting but there are still many uncertainties, particularly in the world of residential finance. More to come? Indeed.


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FCA Liability Could Expand with Wells/Wachovia Case

December 12, 2019
Brandon Ivey

A lawsuit involving Wells Fargo, Wachovia and emergency lending facilities by the Fed during the financial crisis has the potential to expand the application of liability under the False Claims Act. An appeals court recently ruled against Wells in the case.


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It’s Open Season for LO Recruiting. Signing Bonuses?

December 5, 2019
Paul Muolo

Thanks to a strong origination market, loan officers are in demand. The payment of "signing bonuses" is not unusual this time of year, but will the investment in top performers be worth it? Opinions can vary.


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CFPB Eyes Changes to Consent Order Termination

December 5, 2019
Yemeng Yang

The powerful consumer regulator is working on a plan to identify ways to improve the consent order process. The idea: release so-called "reformed" players from the regulatory burden of CO prison.


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Mortgage Biz Strong but Early-Stage Defaults Rise

December 5, 2019
Brandon Ivey

Delinquencies continued to decline in the third quarter, helped by a strong employment market and economic growth. However, there are some signs that late payments might inch upwards. (Includes data chart.)


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HUD Lists Priorities for 2020, Including DPA, FHAct, More

December 5, 2019
George Brooks

DPA provided by government entities and the disparate-impact standard are among HUD's regulatory priorities for FY 2020, according to the agency's regulatory agenda.


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Lender Accused of Accepting Kickbacks in Postage Stamps

December 5, 2019
Yemeng Yang

RESPA kickback schemes can take many forms. One civil case pending in Maryland centers on postage stamps forwarded by a vendor to an originator.


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The UMBS Up and Running, CSS Quietly Cuts 36 Jobs

December 5, 2019
Dennis Hollier

Although most of the CSS software developers let go were contractors, the company did have a few employees working in development. Now that the platform is finished, those positions are no longer required.


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