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Home » Topics » Inside Mortgage Finance » Originations

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TRID Architect: The CFPB Was Caught Flat-Footed by the Rule

May 3, 2016
Thomas Ressler
Attorney Richard Horn, who helped write the TRID rule, blamed the CFPB, in part...
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Walter’s Stock Crushed After $173 Million Loss For 1Q; Inks Deal to Sell MSRs

May 3, 2016
Brandon Ivey
Walter/Ditech originated $5.0 billion of new mortgages in 1Q16, down 10.7 percent from the previous quarter.
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Freddie Books $4.56 Billion Hedging Loss for 1Q. But Net Loss is Just $354 Million. No Assistance From Uncle Sam (At This Time)

May 3, 2016
Paul Muolo
For the past several weeks, speculation was rife that if the yield on the 10-year bond remained under 2.0 percent at March 31 Freddie might book a large hedging loss...
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Is the Mortgage M&A Market Dead in the Water? No More ‘Franchise’ Deals?

May 3, 2016
Paul Muolo
Larry Charbonneau, who runs a boutique advisory firm, said, “The number of willing sellers doesn’t meet the number of willing buyers...”
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Short Takes: Freddie CEO: It’s a Fact of Life / Industry Says Stop the Madness, Let the GSEs Build Capital / The Betting is that Watt Will Pull the Recap Lever / Mel’s Nightmare / Look for Some Type of PHH Sale

May 3, 2016
Carisa Chappell and Paul Muolo
Some mortgage lobbyists predict Watt – a lawyer by training and a former Congressman – will pull the recap lever by the end of the Obama administration...
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A Solution to Student Loan Debt? Roll it Into a Purchase Mortgage

May 2, 2016
Brandon Ivey
According to a notice on LinkedIn, BurkeyLoan is looking to hire a chief financial officer and three-dozen other positions...
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Value-Oriented Kingstown Hedge Fund Starts to Trim Investment in Ocwen

May 2, 2016
Paul Muolo
Kingstown's big bet on Ocwen Financial is looking shaky these days...
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Fannie and Freddie Rocking ‘n’ Rolling in Multifamily MBS; $100 Billion This Year?

May 2, 2016
Thomas Ressler
Over at Freddie Mac, the GSE did $10.8 billion in issuance for the first quarter, mostly in its K-deal program, along with its small balance program, otherwise known as “SB deals.”
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Short Takes: Mortgage Lenders are Making How Much? / Just 8 Basis Points Per Loan? / Short P2P Firms Before the CFPB Gets Around to Regulating Them? / True Mortgage Assistance / Only Mel Watt and a Few Others Know the Answer

May 2, 2016
Paul Muolo
One analyst we know recently told us about an origination shop that is making just 8 basis points per loan...
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Life Under TRID: CFPB Relents on Guidance, Preps to Issue Another Rule

May 2, 2016
After months of hearing mortgage banking and real estate executives gripe about problems tied to the TRID integrated disclosure rule, the CFPB last week signaled its intention to clarify the controversial measure, which became effective in early October. According to a letter from CFPB Director Richard Cordray to industry trade groups, the agency will issue new rulemaking tied to the TRID disclosure regime that will provide greater certainty and clarity. Cordray – who has been lambasted by the industry about the integrated disclosure rule for months – noted in the letter: “We recognize that the implementation of the Know Before You Owe rule poses many operational challenges. We also recognize that implementation is particularly challenging because of the diversity of the participants ...
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