In addition to the so-called TRID 2.0 final rule, the CFPB recently issued a notice of proposed rulemaking related to what’s known in the mortgage industry as TRID’s “black hole,” which refers to situations in which a lender is not permitted to use a closing disclosure to reset fee tolerances. More specifically, the proposal addresses when a creditor may use a Closing Disclosure (CD), instead of a Loan Estimate (LE), to determine if an estimated closing cost was disclosed in good faith and within tolerance. Currently, lenders are permitted, under certain limited circumstances, to use revised estimates, instead of the estimate originally disclosed to the borrower, to compare to the charges actually paid by or imposed on the borrower in...

Based on plunging consumer gripes sent to the CFPB, the mortgage market looks like it’s in great shape – with one glaring exception: mortgage servicing. According to a new analysis by Inside the CFPB of second quarter data from the bureau’s consumer complaint database, mortgage servicing saw a 17.5 percent jump in borrower grousing during the second quarter, but a milder 1.4 percent uptick from the first half of 2016. That latter level would be barely perceptible were it not in such stark contrast to the double-digit drop-offs seen in all other mortgage-related areas tracked by this publication. For instance, kvetching about loan modifications plummeted 81.5 percent from the first quarter of this year to the second, and [With exclusive data charts]...

Walter, the parent of Ditech Financial, said it expects to “acknowledge receipt” of the compliance violation and “notify the NYSE of its intention to seek to cure the deficiency…”

Under the proposal, the CFPB would increase that threshold to 500 loans through calendar years 2018 and 2019…

Agency mortgages produced by mortgage brokers actually rose 4.4 percent in the second quarter, even as the overall market was falling 6.1 percent.

Mortgage gain-on-sale margins likely will be flat...

One of the biggest development this year has been the growing consistency in issuance of nonprime MBS.

JPM reported mortgage banking income of $1.43 billion in the second quarter, off $103 million from the first quarter and down $495 million compared to 2Q16.

The Invictus Opportunity Fund recently raised $35.56 million in capital.

According to Fairholme’s math, the GSEs earn over $15 billion a year, and taxpayers own 80 percent of the companies (via the senior preferred). Berkowitz values the senior stock at $100 billion…