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Federal Court Sanctions the CFPB for Deposition Conduct

September 19, 2017
Thomas Ressler
When the depositions finally occurred, a CFPB witness used “memory aids” to deliver rote, sometimes unresponsive answers to questions.
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Short Takes: About Those GSE Dividend Payments… / The Man Wants to be Paid / Record Attendance at ABS East / LendingTree Buys Snap Capital / Webster Gets a New President

September 19, 2017
Brandon Ivey and Paul Muolo
In other words, the FHFA will once again order the dividends to be paid to Treasury. Right?
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HECM Production Up Almost 26 Percent in First Half of 2017

September 18, 2017
George Brooks
Despite increased originations, FHA data show HECM production, in general, has been on a gradual decline for several years…
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A Growing Problem: VA ‘Rapid’ Refis

September 18, 2017
George Brooks
Acting Ginnie Mae President Michael Bright confirmed the resurgence of inappropriate streamline refinancing in securitization pools, promising a crackdown…
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CFPB Official Tells ABS East Attendees: Show Us Data on How Consumers Have Been Harmed

September 18, 2017
Brandon Ivey
“We want to know if there are impediments because of our rules,” said CFPB Policy Analyst Patrick Orr…
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Prestwick Selling $1.8 Billion Bulk Fannie/Ginnie MSR Portfolio

September 18, 2017
Paul Muolo
The Fannie balance of the pool accounts for $1.33 billion of the receivables.
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Nonbank Lenda Gets Backing of $5.25 Million

September 18, 2017
Sherry Muolo
Lenda originally began as a refinance provider in 2013…
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Short Takes: MBA Wants a Change in HUD Reinspection Policies / Having an FHA Commissioner Might Help / Montgomery Resigns from Radian Board / DBRS Updates Due Diligence Criteria / A New Hire for Mortgage Network

September 18, 2017
George Brooks, Brandon Ivey, and Paul Muolo
The FHA nominee had been a Radian director since 2012…
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Treasury Discussing GSE Issues with Trade Groups; Multiple Guarantors, Capital Are on the Table

September 15, 2017
Over the past several weeks, the Treasury Department has been meeting with several industry trade groups about the future of Fannie Mae and Freddie Mac, discussing – among other things – what to do about the impending “zero capital” problem as well as the topic of multiple guarantors. Treasury’s goal, these officials said, is to come up with a workable blueprint on the future of the government-sponsored enterprises and the nation’s housing finance system – changes that might touch Ginnie Mae as well. Late this week there was...
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Mortgage Securitization Rate Sinks in 2Q17 as Primary Market Races Ahead of MBS Platforms

September 15, 2017
The seasonal surge in primary market mortgage originations stood in stark contrast to a slump in new residential MBS issuance during the second quarter of 2017. Mortgage lenders originated an estimated $455.0 billion of new first-lien loans during the April-June cycle, an 18.2 percent increase from the first three months of the year, according to estimates by Inside Mortgage Finance. But the secondary market generated just $294.7 billion in MBS backed by purchase and refinance loans – a 5.3 percent decline. The result was...[Includes one data table]
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