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CFPB Deputy Director English Announces Resignation. Her Legal Challenge Ends

July 9, 2018
Yemeng Yang
Last fall, English was named the CFPB’s deputy director by departing Director Richard Cordray...
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Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

July 9, 2018
Paul Muolo and Carisa Chappell
Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.
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More Clarity Needed in TRID 2.0, Compliance Experts Say

July 9, 2018
The preamble of the integrated mortgage disclosure rule creates confusion about whether certain charges qualify for a 10 percent tolerance, and compliance experts suggest that lenders wait to see if there’s further guidance from the CFPB. The CFPB released a rule a year ago finalizing amendments to the Real Estate Settlement Procedures Act and the Truth in Lending Act Integrated Disclosure Rule. The amended TRID rule took effect in October 2017, but the mandatory compliance date…
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On the Decline: Mortgage and Student Loan Complaints

July 9, 2018
Yemeng Yang
Gripes against Experian came in at 14,914 over the six-month period…
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Purchase Market Springs to Life in 2Q18, Freddie Regains Market Share

July 9, 2018
John Bancroft
The net result was a strong gain in Freddie’s share of the GSE market…
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CFPB Set to Implement HMDA Relief Later This Summer

July 6, 2018
Yemeng Yang
The relief comes from the Dodd-Frank reform act, which was signed into law in May...
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Short Takes: Making Sense of the BLS Mortgage Employment Numbers / Fewer Construction Workers Means… / Budget Scoring and the GSEs. Meaning? / Hey, Maybe Amazon Should buy Impac (CashCall)

July 6, 2018
Paul Muolo
So, what’s the big deal? Under FCRA, Fannie and Freddie would add $23.5 billion in revenue to Uncle Sam’s coffers for 2019...
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Street Firms Inch Their Way Back into the Nonprime (Non-QM) Market

July 5, 2018
Paul Muolo
A handful of Street firms are now actively making repo lines in the sector…
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Despite Higher Rates, ARMs Slow to Catch On

July 5, 2018
Brandon Ivey
The top six ARM lenders are all commercial banks, led by Bank of America…
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Trump Plan Calls for Moving USDA Housing Programs to HUD

July 5, 2018
George Brooks
Rep. Kenneth Lucas, R-KY, worried that rural communities face challenges that are far different than those faced by typical FHA or VA homebuyers…
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