Did DoJ Opine on Ocwen v. CFPB? No One’s Talking. Earlier this year, Ocwen Financial asked Judge Kenneth Marra of the U.S. District Court for the Southern District of Florida, West Palm Beach Division, to invite the U.S. attorney general to appear and participate in the company’s challenge to the constitutionality of the CFPB.... Last Call for Public Comments on TRID ‘Black Hole’ Proposal. The industry has until 11:59 p.m. Oct. 10, 2017, to submit comments to the CFPB regarding its proposal to close the “black hole” associated with the bureau’s integrated disclosure rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act....
Fannie Mae and Freddie Mac – wards of the federal government for over nine years now – are poised to report stellar earnings for the third quarter, likely blowing past results of the prior two periods, according to an analysis by Inside MBS & ABS. Not only did the two government-sponsored enterprises benefit from a strong origination market in the third quarter, and robust guarantee fee income, but a previously announced legal settlement with Royal Bank of Scotland will soon ...
Nomura Holdings and the Royal Bank of Scotland fought a long battle but eventually lost in a court appeal last week when the judge decided not to undo an earlier order forcing them to pay the government $839 million. The settlement was based on the banks not being truthful about non-agency MBS sold to Fannie Mae and Freddie Mac prior to the housing meltdown. The firms’ lawyers chose to appeal the 2015 decision by U.S. District Court Judge Denise Cote. She found the companies ...
MetLife said a number of new investors have started buying RPLs in recent years. And even with the strong demand, it’s still a market that offers relatively attractive returns…
The RNC document says the GOP “recognizes the sanctity of property rights in America,” which should warm the hearts of GSE common and junior preferred shareholders…
Fannie Mae and Freddie Mac saw a huge jump in deliveries of purchase-money mortgages during the third quarter, although the first-timer share of the market fell slightly. The two government-sponsored enterprises securitized $140.75 billion of purchase mortgages during the third quarter, an increase of 26.4 percent from the previous three-month period. Purchase loans accounted for 62.9 percent of loans sold into GSE mortgage-backed securities during ... [Includes two data charts]
There’s room for improvement in loan origination system offerings, according to a survey of 250 lenders by Strategic Mortgage Finance Group. The consulting group recently released details from its 2016 survey on lenders’ LOS. Lead generation/management was by far the lowest rated functionality within various systems. Only 4.0 percent of survey participants said the lead generation/management offered by their LOS was highly effective. “With the market shift to more purchase business, the lack ...
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