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Financial Services Industry Wants ‘Binding’ Guidance from the CFPB

July 12, 2018
Yemeng Yang
The American Bankers Association argues the CFPB should acknowledge the bureau is bound by the guidance it issues…
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Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

July 12, 2018
Paul Muolo
One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…
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Fairness in Mortgage Servicing Might Become a Hot Spot of Litigation, Compliance Experts Warn

July 12, 2018
Fair lending in the mortgage servicing context has become an area of regulatory interest especially when dealing with disabled borrowers and those with limited English proficiency, compliance professionals said at the recent American Bankers Association’s regulatory compliance conference in Nashville.
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Freddie to Launch Automated Servicing Transfer in August, Streamlines the Process for Smaller Lenders

July 12, 2018
Freddie Mac plans to launch a new servicing transfer tool within the next couple of weeks, part of a broader effort by the government-sponsored enterprises to enhance liquidity in mortgage servicing rights.
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Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB

July 10, 2018
Paul Muolo
Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.
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Short Takes: Fannie Launches MI Pilot / MBA Reg Counsel Joins Consulting Firm / Non Bank Market Share Grows / FHFA Capital Rule Criticized

July 10, 2018
Carisa Chappell
Fannie said the new lender option allows the GSE to streamline the operational requirements of participating lenders...
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Ditech’s Future: An ‘Asset’ or a ‘Stock’ Sale? Opinions Differ

July 9, 2018
Paul Muolo
Of course, Ditech has a bit of back story…
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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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Phoenix Capital Selling Fannie/Ginnie Servicing Package

July 9, 2018
Paul Muolo
A few weeks back, Phoenix Capital was in the market with a flow MSR offering that carried a maximum size of $540 million…
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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
Carisa Chappell and Paul Muolo
Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.
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