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Servicing
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CFPB Continues with its ‘Public Input Series,’ Wants Feedback on Supervisory Processes

February 15, 2018
Thomas Ressler
This is the fourth in a series of RFIs announced as part of Acting Director Mick Mulvaney’s “call for evidence.”
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Behind the White House’s Request to Shore Up FHA Tech: 73 System Outages in 2017

February 15, 2018
John Bancroft
The budget proposal calls for exempting “small lenders” – companies that generate about 20 percent of FHA business – from the IT fee.
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Mortgage Delinquencies Increase at End of 2017 with Poor Performance Concentrated in Areas Damaged by Hurricanes

February 15, 2018
Mortgage delinquencies overall increased at the end of the year, with the poor performance largely attributed to areas hit by hurricanes in August and September. Mortgage performance in most of the rest of the country actually improved at the end of 2017.
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127 Mortgage Banking Executives Sign ‘Open Letter’ to Congress on GSE Reform

February 14, 2018
Paul Muolo
Housing finance reform legislation is being worked on in the House and Senate but has yet to be formally introduced.
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New Tax Law Blows a Hole in Fannie Mae’s 4Q17 Results, FHFA to Ask Treasury for $3.7B in Cash to Eliminate the ‘Net Worth’ Deficit

February 14, 2018
Paul Muolo
As National Association of Realtors Vice President Joe Ventrone put it: “It’s an unintended consequence of the tax bill rather than falling into the bailout narrative.”
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Nation’s Third Largest Servicer Nationstar Agrees to Merge with KKR-Backed WMIH

February 13, 2018
Paul Muolo
Nationstar’s stock is publicly traded, but is majority owned by Fortress Investment Group, which late last year was sold to SoftBank.
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CFPB Issues Industry-Friendly Strategic Plan

February 13, 2018
Thomas Ressler
Acting CFPB Director Mick Mulvaney: “If there is one way to summarize the strategic changes occurring at the bureau, it is this: we have committed to fulfill the bureau’s statutory responsibilities, but go no further.”
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Nation’s Third Largest Servicer Nationstar Agrees to Merge with KKR-Backed WMIH

February 13, 2018
Paul Muolo
Nationstar’s stock is publicly traded, but is majority owned by Fortress Investment Group, which late last year was sold to SoftBank.
Read More

Mortgage Firms Looking to Sell Servicing Rights are Sitting Pretty

February 13, 2018
Paul Muolo
Dealmakers point to not only higher interest rates but lower anticipated loan production and MSR values that are firming up.
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Housing Advocates Worried about Sen. Corker’s GSE Reform Draft

February 12, 2018
Carisa Chappell
The Center for Responsible Lending and other groups said the Corker draft threatens access, affordability and market stability…
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Latest Imf News

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