When it Comes to MI Volume, California Continues to Lead the Nation April 26, 2017 John Bancroft Roughly $12.50 billion of agency mortgages securitized during the first quarter with some form of primary MI were tied to Golden State properties.Read More
Ocwen Elevates its Legal Battle Against the Regulatory Establishment, Asks Court to Decide if the CFPB is Unconstitutional April 26, 2017 Thomas Ressler Ocwen’s counsel includes Goodwin Procter LLP, which also is representing PHH Corp. in its legal battle against the agency…Read More
Thanks to UGC Purchase, Arch MI Boosts Gross MI Premiums by 214 Percent April 26, 2017 Paul Muolo Arch reported primary mortgage insurance in force of $237.8 billion at March 31…Read More
Meanwhile, in the PHH Case, DOJ Gets 10 Minutes April 26, 2017 Thomas Ressler The DOJ, as anticipated, switched sides in this dispute after President Trump took office. Read More
Short Takes: More GSE Reform Plans / Fannie-Freddie Speculators May Make Out After All / Ocwen Gets a Break / Hey Ben, Call Your Friends in the White House and Tell Them … / This HUD Job About to be Filled? April 26, 2017 Paul Muolo Is the White House pondering HUD-related nominations?Read More
ICBA Calls for Delay of Single Security Until GSEs are Recapitalized and Released from Conservatorship April 25, 2017 Brandon Ivey The ICBA believes the GSE risk-sharing securities are illiquid and would likely “dry up” in times of market stress.Read More
Flagstar’s 1Q17 Results: Originations and Earnings Both Fall; MSR Sales Will Continue April 25, 2017 Paul Muolo Flagstar sold $8.0 billion of residential servicing rights during the first quarter compared to $6.7 billion in the fourth quarter.Read More
CFPB Proposes Clarifications to HMDA Rule; What Exactly is an ‘AU’ System? April 25, 2017 Thomas Ressler Such loan terms as “temporary financing” and “automated underwriting system” would be clarified…Read More
Short Takes: Fannie Mae’s Goal: to Help Those with Student Loans / As Long as Someone Else Pays / Fannie is NOT Entering the Student Loan Business / The Key: Cutting G-Fees / Quicken Hires Fiat’s Ad Guy April 25, 2017 Paul Muolo A Fannie spokesman stressed that this effort in no way represents the GSE getting into the student loan business…Read More
Ocwen Files to Block Sanctions in Illinois and Massachusetts; Plans to Fight All the Other States as Well April 25, 2017 Paul Muolo The company adds: “Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the company.”Read More
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