“The process of dealing with RHS is a nightmare,” said Rep. Blaine Luetkemeyer, R-MO, vice chairman of the committee.

Among those nonbanks not losing too much sleep over the FHFA proposal is Nationstar Mortgage.

First Guaranty Mortgage Corp., Frederick, MD, originated $940 million of home mortgages in the first quarter, a 48 percent jump from the same period a year earlier.

The CFPB also disputed the notion that the Aug. 1 effective date comes at a bad time on the closing calendar...

Quicken once again ranked first among all FHA lenders, funding $2.46 billion during 1Q, more than double the volume of its closest competitor, Wells Fargo.

According to the website ShortSqueeze.com, almost 30.2 million shares of Ocwen are presently being shorted by speculators or 46.48 percent of the float...

Among other actions, Ocwen entered into an agreement in April to receive up to $125.0 million of backup financing for new loan originations...

Several hard money lenders are involved in financing flippers, charging interest rates that are several percentage points above the going Fannie Mae/Freddie Mac rate.

If one of the sponsors of the Dodd-Frank Act supports giving mortgage lenders an enforcement break when the CFPB’s integrated disclosure rule kicks in later this year, you know something serious is afoot. Such is indeed the case. Rep. Brad Sherman, D-CA, one of the original backers of Dodd-Frank, has crossed the partisan aisle in the House Financial Services Committee to join Rep. Steve Pearce, R-NM, in introducing H.R. 2213. Their bill would grant lenders a temporary safe harbor from enforcement of the rule integrating the required mortgage disclosures under the Truth in Lending Act and the Real Estate Settlement Procedures Act. More specifically, H.R. 2213 would protect lenders from private lawsuits and regulatory enforcement actions through Dec. 31, 2015, ...

CFPB Director Richard Cordray continues to appear steadfast in his refusal to accommodate the mortgage industry by providing some sort of soft enforcement period for the new integrated disclosure rule, which is set to kick in Aug. 1, 2015. In a recent letter to Rep. Blaine Luetkemeyer, R-MO, one of the members of Congress who has been pressing the director for some kind of an enforcement grace period, Cordray was too discreet to come right out and say “no” to members of Congress. Instead, he told the congressman that the bureau shares his desire for “a smooth and successful implementation of the integrated disclosure rule, and we continue to work closely with all stakeholders to support that goal.” Cordray then ...