States Criticize the CFPB’s Plan for a Trial Disclosure ‘Sandbox’ October 31, 2018 The current policy, issued in 2013, says the bureau will not approve a trial disclosure that weakens consumer understanding of valuable information, even if it improves cost effectiveness.Read More
Short Takes: Judging Risks and Rewards at Freddie / The Gift that Keeps on Giving: The Trump Tax Cut / Despite Some Losses, Mortgage Bankers Remain Liquid / An Earnings Decline at Radian / Leaving Wells Fargo for a Nonbank October 31, 2018 Carisa Chappell and Paul Muolo Freddie Mac benefited to the tune of $200 million (pre-tax) by reducing the write-down on its net deferred tax asset...Read More
Mortgage Complaints Took a Dive in 3Q18 October 30, 2018 John Bancroft Wells Fargo once again led the complaint pack…Read More
Fairholme Tells Investors Court Ruling ‘Should Advance’ the ‘Re-IPO’ of Fannie and Freddie October 30, 2018 Paul Muolo Fairholme adds: “This is good news when you count the cash that Fannie and Freddie have earned and will earn.”Read More
A Possible Problem for Ginnie: Fannie/Freddie MBS Getting an Explicit Guarantee from Uncle October 30, 2018 Paul Muolo Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…Read More
Digital Footprint Useful for Predicting Loan Defaults October 30, 2018 Brandon Ivey Fun fact: Consumers with their names in the email address were 30 percent less likely to default than other customers.Read More
loanDepot Unveils Warehouse Securitization for Mello Unit October 30, 2018 Paul Muolo Clayton Services has been hired to conduct due diligence reviews every 90 days on 100 randomly selected loans.Read More
Short Takes: Parity for the FHLBs and FanFred? / Once a Contender / Newfi and Non-QM / Strong Earnings from First American but Anxiety Too / From Alibaba to MGIC October 30, 2018 Paul Muolo Roughly 40 percent of Newfi Lending’s current loan volume entails the origination of mortgages that do not meet the qualified mortgage test.Read More
A Sure Bet for the New FHFA Director: No More GSE Pilot Programs? October 29, 2018 Paul Muolo The fact that these initiatives were ever approved by the FHFA angered critics of the government-sponsored enterprises…Read More
MBS Backed Fix-and-Flip Bridge Will Expand, Morningstar to Take a Conservative View Initially October 29, 2018 Brandon Ivey Fix-and-flip loans generally have terms that range from a few months to three years…Read More