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Freddie Posts Strong 1Q18 Profit Thanks to G-Fee Income, Gains from Derivatives (and No More DTA Hits)

May 1, 2018
Paul Muolo
Even though the GSE posted a strong profit, it saw MBS issuance fall 37.2 percent in the first quarter...
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Short Takes: Freddie Mac Multifamily Continues to Shine, but… / UWM Rolls Out New Website / Seed Money / Nationstar Looking at a Large MSR Markup? / Mulvaney: I’m Not Running a Yelp / New Hires for Freddie, Angel Oak

May 1, 2018
Paul Muolo and Yemeng Yang
Not too long ago, UWM rolled out a $500,000 grant program designed to allow LOs to start their own loan brokerage firms...
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Agency Servicing Transfers Slowed in Early 2018

April 30, 2018
John Bancroft
In 1Q18, the top three coissuance sellers of servicing rights were Fairway Independent Mortgage, Finance of America, and Movement Mortgage.
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CMLA Picks Industry Vet Ed Wallace as New Director

April 30, 2018
Paul Muolo
CMLA favors a recapitalization and reform plan for Fannie Mae and Freddie Mac, one where they are transformed into “utilities.”
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Redwood Trust to Acquire Minority Stake in Non-Agency Lender 5 Arches

April 30, 2018
Brandon Ivey
“The opportunity for us is clear,” said Christopher Abate, president of Redwood. “Capital needs in this still emergent sector of housing finance continue to rise..."
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Short Takes: HUD Yanks Approvals on 23 Lenders, Most of Them Banks / Goldman Sachs, Warehouse Lender, but… / Rep. Waters None Too Happy with Mulvaney / A Document Dump is Requested / A Promotion at J.G. Wentworth

April 30, 2018
Paul Muolo
Rep. Waters wants CFPB acting director Mulvaney to turn over documents regarding meetings he's had with the industry...
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Freddie Rolls Out New Low-Downpayment Mortgage

April 30, 2018
Carisa Chappell
HomeOne will be available beginning July 29…
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1Q18 Roundup: Megabanks Suffered Mega Declines in Lending

April 30, 2018
Paul Muolo
In an unusual development for a top mortgage lender, BofA announced that it would no longer report any information about its mortgage banking operations.
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CFPB Fixes “Black Hole” Issue In the TRID Rule

April 30, 2018
The CFPB last week finalized a proposed amendment to its “Know Before You Owe” rule, fixing what is commonly known in the industry as the “black hole” issue. The final rule adopts a July 2017 proposal with only minor, technical changes. In broad terms, it gives lenders more flexibility in issuing revised closing disclosures that comply with the complex disclosure requirements mandated by Truth in Lending Act and Real Estate Settlement Procedures Act ...
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Altisource Says the CFPB Won’t Take Action Against It

April 30, 2018
Altisource Portfolio Solutions disclosed that the CFPB won’t take any enforcement action against the company regarding its relationship with Ocwen Financial Corp., which was sued by the bureau for mortgage misconduct last year. The vendor – started years ago by Ocwen and then spun off – revealed last week that it received a letter from the CFPB on April 3 that the bureau has completed the investigation of the service provider and is currently not recommending any enforcement ...
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