Regulators were aware that the three regional banks that failed last year had large amounts of uninsured deposits and high exposure to FHLBank advances.
The Federal Housing Finance Agency has long supervised the GSEs’ management of third-party risk from nonbank mortgage companies. But now for the first time it is examining nonbanks directly.
In granting the injunction decree, the court noted that there’s a “substantial likelihood” the trade associations will ultimately succeed in their challenge against the CRA overhaul.
The MBA has called on federal agencies to ensure there is no disruption in the mortgage process stemming from the National Association of Realtors’ decision to settle a lawsuit related to agent commission practices.
City National hopes to get in on the ground floor of a turnaround in MSR-backed lending. The federally insured depository is joining other warehouse providers that play in the space, but there are risks.
It’s status quo when it comes to mortgage banking M&A activity — and that’s not a good thing if you’re looking to sell. For now, it’s all about asset sales, mortgage servicing rights in particular.
OSHA has ordered PrimeLending to pay back wages to two employees who were subject to retaliatory actions after they raised concerns related to consumer fraud.
Hunterbrook Capital is going after United Wholesale Mortgage, lobbing allegations and shorting stock in the nonbank; Michael Barr, vice chair for supervision at the Fed doesn’t find the rhetoric regarding bank capital requirements particularly useful; Ocwen plans to rebrand as Onity.
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