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CFPB Proposes Disclosure Sandbox

September 19, 2018
Yemeng Yang
The agency specifies that a two-year testing period would be the norm.
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Former Goldman Officials Launch Non-QM Wholesaler to Feed its Growing Aggregation Business

September 19, 2018
Paul Muolo
Steve Skolnik, an industry veteran with a long career in nonprime lending, was recently hired as CEO…
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MorVest Taking Bids on Freddie Mac Bulk MSR Portfolio

September 19, 2018
Paul Muolo
Dealmakers, including Mark Garland of MountainView Financial Solutions, expect a flurry of activity this fall.
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Short Takes: Freddie Talking to Potential MSR Borrowers / Fannie’s New HLTV Refi Option / Plenty of GSE-Eligible Loans in New JPM MBS / LendingTree’s $10k Prize / A New Director at Fannie Mae

September 19, 2018
Brandon Ivey and Paul Muolo
On Nov. 1, Fannie Mae will begin accepting applications for its new high loan-to-value ratio refinance product.
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They’re Back: CFPB Advisory Boards (But with Fewer Members)

September 18, 2018
Yemeng Yang
Two new members of the consumer panel come from the fintech world: Sameh Elamawy, CEO of Scratch, and Manning Field, CEO of Acorns.
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Slightly Higher Warehouse Commitment Figures Mask Worries About Price Cutting, More…

September 18, 2018
Paul Muolo
One manager criticized number-two ranked warehouse provider Texas Capital for the discounts the bank is offering, calling it “the talk of the warehouse community.”
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For Sale: Fannie Mae Bulk MSR Portfolio, Average LTV: 59 Percent

September 18, 2018
Paul Muolo
Kentucky product dominates the portfolio at 98.9 percent. Ohio is a distant second…
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FHFA IG Critical of Fannie Mae Consolidation Play in Northern VA

September 18, 2018
Carisa Chappell
The IG says four officials in the FHFA’s Division of Conservatorship told investigators that Fannie did not face an “action forcing” event…
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Watt Accuser at the FHFA Seeks Senate Hearing on Sexual Harassment Allegations

September 18, 2018
Carisa Chappell
In late July, Director Watt issued a statement saying he had not “done anything contrary to law.”
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CFPB Proposes Disclosure Sandbox, and More Could Come

September 17, 2018
The CFPB is creating a “disclosure sandbox” as its most recent step to encourage fintech innovation. Many are expecting the bureau to tackle the flawed no-action letter policy next. The CFPB recently published a revised policy for its trial disclosure program in the Federal Register. The new policy would streamline the application process, establish procedures for extending successful trial disclosure programs, and allow the CFPB to coordinate with sandbox ...
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