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Short Takes: Ranieri: 680 FICO is the New 620 / Nonprime Lender Citadel is Hiring / Obamacare is Good for Mortgage Lenders / Fast Eddie and Fast Richie / FHA’s Galante Wants the 30-Year Mortgage to Live / Congress Eyes the CFPB Again

October 29, 2013
Paul Muolo, George Brooks, and Charles Wisniowski
Mortgage credit is not easing. Meanwhile: Why did the heads of the CFPB and FHFA cut and run at the MBA show?
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Citigroup Wants One Buyer to Purchase $61 Billion of MSRs

October 29, 2013
Paul Muolo
Once again, the MSR market is heating up. Sources say a REIT may purchase receivables being offered by Flagstar Bancop.
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MBA: 2014 Will be the Worst Year for Originations Since 2000

October 29, 2013
Paul Muolo
Mortgage professionals should hang onto their hats. Loan production could plunge by 32 percent in 2014.
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White House and Senate Democrats Will Push Watt FHFA Nomination

October 29, 2013
Charles Wisniowski
“The president believes that Rep. Watt is the very best person to lead the agency at this important time for the housing market and our economy, and that having a confirmed FHFA director in place will help promote certainty for the housing industry,” said a White House spokesman.
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CFPB’s Cordray Assures Lenders: 95% of Mortgages Will Have QM Status

October 29, 2013
Thomas Ressler
CFPB chief Richard Cordray believes "the QM space has been drawn quite broadly" and estimates that more than 95 percent of the loans made in the current market will be deemed qualified mortgages.
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FHFA: Repurchase Requests on Pre-Conservatorship Book Will be Wrapped up by Year-end

October 29, 2013
Charles Wisniowski
According to figures compiled by Inside Mortgage Finance, the GSEs took in $16 billion from buybacks during the first six months of 2013. At the same time, lenders succeeded in getting $7 billion in repurchase requests withdrawn.
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Short Takes: Vote on Watt to Head FHFA Gaining Momentum / MBA Annual Convention Attendance / Warehouse Lending Expansion? / MBA Leadership Lineup

October 28, 2013
Paul Muolo, Brandon Ivey, and Charles Wisniowski
The nomination of Rep. Mel Watt, D-NC, to replace current Federal Housing Finance Agency Acting Director Edward DeMarco may not dead after all.
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GSEs’ Purchase-Mortgage Business Drops in September

October 28, 2013
Charles Wisniowski
The incredibly shrinking refinance market helped continue the shift in the mix of single-family mortgages securitized by Fannie Mae and Freddie Mac in the month of September, according to a new Inside The GSEs analysis.
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House Members Seeking to Delay Flood Insurance Changes for Four Years

October 28, 2013
Brandon Ivey
Rep. Maxine Waters, D-CA, announced an agreement to fix unintended consequences (significantly higher premiums) from the Biggert-Waters Flood Insurance Reform Act.
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Mortgage Market Reform a Multi-Year Endeavor, According to MBA Convention Panelists

October 28, 2013
Charles Wisniowski
Legislative reform of Fannie Mae, Freddie Mac and the FHA will take years, according to panelists at the Mortgage Bankers Association's annual convention.
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