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Note to Lenders: The CFPB is Listening to Your ‘Scripts’

November 6, 2014
Thomas Ressler
The CFPB is listening to recordings of inbound telemarketing calls, the attorney said...
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Nonbanks Continue Their Market Share Gains in MSRs – but at a Slower Pace

November 6, 2014
John Bancroft
The nonbank expansion has eased over the past few quarters because once-hungry buyers of receivables such as Ocwen, Nationstar and Walter Investment are no longer gobbling up huge portfolios.
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JPM to Issue a Jumbo MBS Backed By 7-Year ARMs, Many with IO Features

November 5, 2014
Brandon Ivey
Some 60.7 percent of the mortgages in the deal have interest-only features.
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Short Takes: Hey Mel, Where’s the Formal Proposal on Looser GSE Credit? / Two Large MSR Auctions? / Warehouse Outlook Subdued / Risks and Rewards of Mortgage REITs / HUD’s Disparate Impact Rule Toast?

November 5, 2014
Paul Muolo
Whatever might be in the works at the FHFA regarding looser credit won’t be out until mid-December, we’re told…
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GSE Reform in 2015? There May be No Warner of Corker-Warner; MI Outlook?

November 5, 2014
Paul Muolo and Charles Wisniowski
The mortgage insurance industry lost a key political ally with the reelection defeat of first-term Democratic incumbent Sen. Kay Hagan of North Carolina.
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Rural Housing Guarantee Volume Expected to End 2014 on a Low Note

November 5, 2014
George Brooks
Securitization of rural development home loans during the first nine months was $14.19 billion, with the top three issuers accounting for 58 percent.
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Two Harbors Launches Nonprime Product and High LTV Jumbo Loan

November 5, 2014
Brandon Ivey
Two Harbors has plenty of capacity to hold non-agency loans in portfolio without reliance on outside financing.
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PHH Loses Money on Mortgage Business in 3Q14, Lower Gain-on-Sale Blamed

November 5, 2014
Paul Muolo
PHH's servicing portfolio continues to shrink thanks to MSR sales and payoffs.
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Short Takes: What is it With New York State? / UGI Posts Strong Earnings / Freddie’s Incredibly Shrinking REO / Ocwen Official Departs for LenderLive / Ohio Rules in Freddie’s Favor

November 4, 2014
Paul Muolo and Charles Wisniowski
When pressed further, Middleman noted that getting acquisitions approved in the Empire State can “take a long time”…
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HUD Won’t Adopt CFPB’s Amended QM Points-and-Fees ‘Cure’ Provision

November 4, 2014
George Brooks
The CFPB initially allowed a simple refund of the excess amount under certain conditions...
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