In the age of the CFPB, mortgage servicers have been walking a tightrope, balancing regulatory compliance with borrower satisfaction, sometimes getting stung by an enforcement action. This year, they are falling behind the curve in terms of their customers, according to the results of the 2017 U.S. Primary Mortgage Servicing Satisfaction Study from J.D. Power. “CFPB servicing regulations now in place are resulting in intense scrutiny as well as major fines for some institutions during the first waves of enforcement,” the data, analytics and advisory services provider said. “With other state and federal agencies, such as the Department of Justice and state attorneys generals, also taking actions against mortgage servicers for servicing practices, many experts expect intense regulatory scrutiny to ...

There may be plenty of uncertainty about the direction of the CFPB these days, given that Republicans are calling the shots on Capitol Hill and at the White House, plus the fact that Richard Cordray’s days as director of the bureau are numbered, regardless of when he actually ends up departing. Still, mortgage servicers can continue to expect robust supervision and regulation – and enforcement –if not from the bureau, then from another federal regulator, as well the states, and maybe all of the above, according to Steven Frie and Mark Shannon, top servicer analysts at S&P Global Ratings. “It’s been pretty common knowledge that the CFPB has been very active in regards to regulating the mortgage servicing industry,” Frie said ...

The vast majority of Fannie buyback activity involves loans sold into MBS issued since 2015…

“Before a loan closes there will need to be [property] reinspections,” said Pete Mills, senior vice president of residential policy and member engagement for MBA.

Mortgages in the deal were originated by a variety of lenders, none of which were identified…

Pollock criticized the Treasury Department’s decision to pay off $13.5 billion of subordinate GSE debt at the start of the conservatorships nine years ago...

The day before, Cherry Creek Mortgage issued a statement saying it would extend health care benefits to cover same-sex couples “effective immediately.”

A spokeswoman for Fannie said, “While the situation on the ground remains uncertain, areas impacted are subject to change…”

New CIO for Freddie. Freddie Mac named Stacey Goodman as executive vice president and chief information officer. She will begin on Sept. 25 and brings more than 25 years of technology experience in the financial services industry. In her role, Goodman will lead the Information Technology division and provide corporate-wide leadership for all the company's technology activities. Previously Goodman was executive vice president, chief information and operations officer at CIT. Prior to that she held several roles at Bank of America, last serving as managing director and divisional CIO of global technology & operations. Goodman will be a member of the senior operating committee and will report directly to CEO Donald Layton.

Fannie Mae and Freddie Mac saw a modest uptick in production of single-family mortgage-backed securities in July, as 2017 activity remained slightly above last year’s levels. The two GSEs issued $71.84 billion of MBS last month, a 3.7 percent increase from June. That brought year-to-date volume to $479.77 billion, including securitization of modified loans, a slim 1.1 percent increase compared to the first seven months of 2016. The GSE market continued to shift dramatically from refinance loans to purchase mortgages. Refi loans accounted for just 33.4 percent of Fannie and Freddie business in July after ending 2016 with 55.4 percent of GSE business.