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Agency MBS Issuance Down Slightly in May, But Still Ahead of Last Year’s Pace

June 11, 2013
John Bancroft
Roughly $148 billion of single-family agency MBS were issued last month, down almost 3 percent from April’s level. May was the slowest month for agency MBS issuance so far in 2013.
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Refi Specialist CashCall Contemplating Staff Cuts, Is a Sale on the Horizon?

June 11, 2013
Paul Muolo
At press time, CashCall founder and president Paul Reddam could not be reached for comment.
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HUD Employees Will Be Furloughed June 14

June 11, 2013
George Brooks
Testifying before a Senate panel earlier this year, HUD Secretary Shaun Donovan warned that sequestration would limit the FHA’s ability to provide information and services in a wide range of areas.
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Short Takes: Freddie Could Earn Even More Money / GSE Shareholder Suit Hardly a Surprise / More on EverBank’s Jumbo Deal / HUD Offers Advice on Asking About Disabilities / The Golden State of Mortgage Fraud

June 11, 2013
John Bancroft, George Brooks, Brandon Ivey, and Paul Muolo
Freddie Mac's low activity fee could add more than $2 million to its bottom line.
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CFPB Issues Compliance Guides for Residential Lending, Servicing

June 10, 2013
Thomas Ressler
The Consumer Financial Protection Bureau has issued two new compliance guides but is warning that they are not substitutes for the underlying rules.
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ICBA Demands Repeal of Freddie’s Low-Activity Fee

June 10, 2013
Charles Wisniowski
Community banks are getting slapped with a "low activity" fee from Freddie Mac and the ICBA is not happy.
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Walter Investment to Restate RMC Financials Due to Servicing Errors

June 10, 2013
George Brooks
In a new filing with the SEC, Walter Investment said it discovered that its new reverse subsidiary had failed to record certain servicing errors.
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Short Takes: Cash-Out Refis, a Thing of the Past? / Fannie, Freddie Shareholder Petition Takes Off / John Paulson Bets on MI Firms / MGIC Reports Better Numbers / How to Analyze Your Shop for a CFPB Exam

June 10, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
Will cash-out refinancings ever return? Meanwhile, a new petition posted on the White House website that might helps GSE shareholders is taking off.
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CFPB’s Changes to Points and Fees Makes Calculating Compensation Easier

June 7, 2013
Thomas Ressler
By excluding from the points and fees calculation compensation paid by creditors and mortgage brokers to their employees, the bureau prevents some double counting.
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Despite White House Push, HARP 3.0 Likely is Going Nowhere

June 7, 2013
Charles Wisniowski
The Obama administration has mounted a public relations push, including a recent White House social media buzz, pushing for the HARP 3.0 program.
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