CFPB Singles Out Loan Servicers for Tech Failures. Are Fines Coming? June 23, 2016 Thomas Ressler CFPB examiners found problems with loan modification acknowledgement notices, including sending them too late and having incorrect information or deceptive statements…Read More
Ocwen to Settle with DOJ for $30 Million in FCA Lawsuits Involving HAMP and FHA June 23, 2016 Brandon Ivey In trading Thursday, Ocwen’s share price was up almost 8.0 percent on the day to $1.69 a share. Read More
Short Takes: What’s an NBA Championship Worth? About 25 BPs / MountainView Selling Ginnie Mae MSRs / 20 Percent Down Isn’t the Right Answer? / Homeownership, a Complicated Affair / Ditech Hires Ex-SunTrust Exec June 23, 2016 Paul Muolo, Brandon Ivey, and Macie Jones Who needs a toaster when you can have a mortgage at a 25 basis point discount?Read More
The Final Jumbo Tally for 1Q16: Just a Shade Over $100 Billion, Including GSE Loans June 22, 2016 John Bancroft There is a fighting chance that agency high-cost limits could go up in 2017.Read More
Short Takes: FHA Ready to Cut the MIP? / 100 Guests at Ginnie Liquidity Summit / In Demand: Mortgage Underwriters / Citadel Employee Count at 160 and Growing / Freddie Keeps Selling NPLs June 22, 2016 Paul Muolo and Carisa Chappell Roughly 100 guests were invited to the Ginnie Mae "liquidity summit," including regulators from the Federal Reserve. Read More
IMA Selling Almost $5 Billion of GSE Servicing Rights June 22, 2016 Paul Muolo The market is beginning to see more MSR auctions, much of it tied to GSE product...Read More
Federal Regulators Plead for Housing Finance Reform Legislation, Note They are ‘Approaching the Limits of their Ability to Enact Reform’ June 22, 2016 Brandon Ivey Financial regulators tell Congress: Do something now on GSE reform before it's too late...Read More
25 Trade and Community Groups Tell FHFA Chief Mel Watt: Kill LLPAs Now June 22, 2016 Paul Muolo The mortgage industry and others want LLPAs eliminated now...Read More
Wells Fargo Remains the Top Jumbo Servicer – By Far; Strong Growth for JPM June 22, 2016 Brandon Ivey Chase serviced $169.70 billion of jumbos at March 31, up 27.3 percent from the year before….Read More
CRT Capital Group Pulls the Plug on Sterne Agee CRT; Firm Followed Several Mortgage Stocks June 22, 2016 Paul Muolo CRT Capital’s backers include Aquiline Capital Partners, which 18 months ago bought a large stake in subservicer/service provider LenderLive.Read More