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McKernan Picked for CFPB; Staffers Protest Shutdown

February 13, 2025
Shannon Clark
Former FDIC board member Jonathan McKernan has been nominated to head the CFPB. Meanwhile a new acting director shut down all agency activities, spurring staff protests and lawsuits.
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UWM Open to a Big MSR Sale, But Will It?

February 13, 2025
Paul Muolo
UWM is pondering sales of $52 billion of product. Will other sellers follow suit or maybe opt for a bank-financing transaction?
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Another Big Hire for Cenlar: A Chief Banking Officer

February 13, 2025
Paul Muolo
Subservicing giant Cenlar created the post of chief banking and capital markets officer, hiring JB Long to man the post.
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Trump’s War on DEI May Cause Issues for SPCPs

February 13, 2025
Dennis Hollier
Regulators and lenders will have to figure out how to comply with non-discrimination laws without resorting to the use of DEI.
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Insurance Crisis Could Make Properties Unmortgageable

February 13, 2025
Namrata Bhatia
The rising homeowner insurance crisis could make getting affordable coverage or getting coverage at all difficult in some parts of the country and, by extension, make properties in those areas unmortgageable.
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Grapevine: APOR Confusion; Gould Nominated to OCC

February 13, 2025
Namrata Bhatia, Dennis Hollier, and Paul Muolo
Absent APOR figure, lenders and mortgage-backed securities buyers would be uncertain whether loans were QM.
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PHH Pauses Non-Agency Mortgage Originations in Maryland

February 6, 2025
James Dohnert
The lending affiliate of the Onity Group paused its non-agency operations in Maryland as a new state regulation requires all parties involved in the mortgage lending process to be a licensed mortgage lender.
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MSR Buyers Expect Supply to Remain Elevated in 2025

February 6, 2025
Brandon Ivey
Lenders are facing a tough market for originations, helping to prompt sales of servicing. The supply of MSR is coming both from older vintages with interest rates well below current rates and new production in which a lender might not want to hedge the MSR.
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Cyberattacks Putting Pressure on Mortgage Companies

February 6, 2025
Paul Muolo
Cyberattacks against mortgage companies are a growing concern. Insurance can cover some of the financial losses, but premiums are spiraling out of control, some executives report.
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Trump Orders Rulemaking Slowdown; Fires Chopra

February 6, 2025
Shannon Clark
An executive order directs agencies to identify at least 10 regulations or guidance documents to repeal for every new regulation issued.
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