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FIS Fights Back Against Ocwen, Says Lawsuit was Filed to Avoid Paying Invoices

May 31, 2017
Paul Muolo
In the lawsuit, Ocwen admitted that it had stopped paying some of the invoices sent to it by FIS because of what it called “improper and non-compliant billing practices…
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Short Takes: A Revolving Door for Mortgage CEOs? / The Fight Against an Industry Fee to Help FHA Tech / What is DOS? / Redwood’s Next MBS / SG’s Goal: A Rated Deal / Another New Branch for Castle & Cooke

May 31, 2017
George Brooks, Brandon Ivey, and Paul Muolo
“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.
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MBA, NAR, Others Identify HUD Rules They Would Like to See Changed

May 30, 2017
George Brooks
The Mortgage Bankers Association is seeking clarification of FHA liability standards to entice banks to resume their FHA lending.
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House Rules Committee to Meet Next Week on Financial CHOICE Act

May 30, 2017
Thomas Ressler
Perhaps, parts of the CHOICE Act might be siphoned off and made more politically palatable, such as regulatory relief for small community financial institutions.
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Walter Gets Increase in Warehouse Line for Reverse Unit

May 30, 2017
Paul Muolo
Walter’s reverse business posted a pre-tax loss of $5.3 million in the first quarter but took in total revenue of $22.5 million.
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Short Takes: Ocwen Registers More Stock / A 12 Day Wait to Announce / The Fidelity Empire / No Income Verification for Flippers / Norcom Hires Reverse Chief

May 30, 2017
Brandon Ivey and Paul Muolo
All Credit Considered Mortgage is offering investment-property mortgages that do not require verification of the borrower’s income or employment.
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Depositories Increased Their MBS Holdings in 1Q17 – With a Boost from Large Thrifts

May 26, 2017
John Bancroft
Much of the growth in MBS investments came from two large thrifts: Charles Schwab Bank and E*Trade Bank…
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A Unique Deal from Credit Suisse: A Non-Agency MBS Backed by Seasoned FHA Mortgages

May 26, 2017
Brandon Ivey
Credit Suisse was a major issuer of post-crisis jumbo MBS, but hasn’t come to market with a jumbo deal since the fourth quarter of 2015.
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CFPB to Assess Effectiveness of the ATR/QM Rule

May 26, 2017
Thomas Ressler
To assess the effectiveness of the rule in meeting the agency’s goals, the CFPB will examine the impact of major provisions of the measure on a set of consumer outcomes, including mortgage costs…
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In the Mortgage M&A Game, Small and Medium-Sized Shops are Targets

May 26, 2017
Paul Muolo
In years past, RPM has been a selective buyer of mostly smaller shops.
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