Treasury Eyeballing CFPB Rules as Part of Regulatory Relief Review. The Treasury Department is focused on a wide range of regulatory requirements where simple communication and clarification of the regulatory intent is warranted, such as the CFPB’s ability-to-repay rule, the integrated disclosure rule and the Home Mortgage Disclosure Act rule, Craig Phillips, counselor to the Treasury secretary, said during a symposium in New York City last week, according to Inside Mortgage Finance.... Dodd-Frank Changes to be Discussed. House Financial Services Committee Chairman Jeb Hensarling, R-TX, is scheduled to discuss his Dodd-Frank Act alternative, H.R. 10, the Financial CHOICE Act, Tuesday of this week at an event at the American Enterprise Institute....
The purchase-mortgage business showed some green shoots in April, but not enough to offset another drop in refinance activity, according to a new Inside The GSEs ranking and analysis. Fannie Mae and Freddie Mac securitized $31.84 billion of purchase mortgages last month, a 12.2 percent increase from March. It was the third straight monthly gain in purchase-mortgage volume, bringing year-to-date activity to $123.46 billion, a 13.6 percent improvement over the same period in 2016. Purchase mortgages accounted for over half of GSE business in April for the first time since August of last year. But the refinance side of the business fell again in April, to just $25.49 billion. That was down 17.8...
Since its founding roughly five years ago, mortgage technology vendor Blend has landed five top-10 residential lenders for its digital origination platform and 20 customers overall. It also has raised $60 million in seed money from investors, but has no current plans to tap the private equity market for cash, which is probably a good sign. “We may raise more money, but not at the moment,” said company Co-founder and Chief Executive Officer Nima Ghamsari. But is Blend profitable ...
Newfi Lending, an online residential mortgage lender, is looking forward to a big origination year with the consolidation of its product lines under the “Newfi Lending” brand. A multi-channel lender, the Emeryville, CA-based lender previously operated as Nexera Holdings under two national brands – Newfi for its consumer-direct retail business and Bluestream Lending for third-party originations. In conjunction with the change, Newfi’s wholesale-broker business will now be ...
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