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Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire

January 21, 2015
Brandon Ivey and Paul Muolo
Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…
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Mortgage Brokers Staged Comeback in 4Q14 with GSE Business

January 20, 2015
John Bancroft
Meanwhile, Fannie Mae and Freddie Mac continued to get less of their business from their five biggest customers.
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Citing FHA Premium Cut, Freedom Mortgage May Hire 500

January 20, 2015
Paul Muolo
The 50 basis point cut in FHA premiums is spurring some firms, including Freedom Mortgage, to increase hiring.
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Fannie Mae’s New Appraisal Product Causing Anxiety

January 20, 2015
George Brooks
Fannie's "Collateral Underwriter" will provide up to 20 comparables and appraisers will have to defend the comps they use...
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FHFA PMIER Rule Could be Accompanied by LLPA Announcement

January 20, 2015
Paul Muolo
“It’s hard to believe the FHFA will release the PMIER rules without doing something on LLPAs,” said one official.
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Short Takes: No Minimum FICOs for this FHA Lender / More Mortgage Gifts from President Obama? / Warehouse Mentioned in Earnings from Republic / DocMagic Expecting a Busy Year / Altisource Adds Vella

January 20, 2015
Paul Muolo
Assisting DocMagic with its work on RESPA-TILA disclosures is Richard Horn, a former senior advisor at the Consumer Financial Protection Bureau...
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The Megabank Mortgage Roundup: 4Q Reveals Some Up, Some Down

January 19, 2015
John Bancroft
Two of the four, Chase and BofA, reported increased originations during the fourth quarter. At Chase, production was up 8.5 percent...
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Lenders Preparing for a Refi Boom(let)? Looks That Way

January 16, 2015
Brandon Ivey
At press time, the yield on the 10-year Treasury was at 1.80 percent, the lowest level since May 2013.
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CFPB Looking for Legal Conflicts to Enter

January 16, 2015
Thomas Ressler
“The bureau welcomes and encourages suggestions of cases as candidates for amicus curiae participation,” said the letter, signed by Meredith Fuchs, general counsel of the CFPB.
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What We’re Hearing: Nonbanks Almost Equal to Banks in GSE MBS / More Mortgage Trouble for Cerberus / Meddling by Cerberus? / Hope for Ocwen? / The Failed GSE Duopoly? / Investor Unite a Bust?

January 16, 2015
Paul Muolo
The Federal Housing Finance Agency will unveil nonbank capital guidelines for servicers by mid-year. Also on the docket: Changes to loan level price adjustments..
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