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Successors in Interest May Be Toughest Compliance Hurdle in Latest Changes to CFPB Servicing Rule

June 15, 2017
The most challenging aspect of complying with the pending amendments to the Consumer Financial Protection Bureau’s mortgage servicing rule will be implementing the successors-in-interest provisions, according to industry experts. Most of the revisions to the rule, issued last year by the CFPB, take effect Oct. 19, 2017. But the successor-in-interest requirements kick in April 19, 2018. Addressing an audience at the 2017 American Bankers Association regulatory compliance conference in Orlando this week, compliance professionals broke...
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A Strong (but Balanced) Market for MSR Sales

June 14, 2017
Paul Muolo
The Ginnie MSR market has been in the tank the past two years, but has revived somewhat this spring…
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In Wake of Accounting Problems, Walter/Ditech Discloses ‘Waivers’ From Warehouse Lenders

June 14, 2017
Paul Muolo
Walter’s warehouse providers include Wells Fargo and Credit Suisse, among others.
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Marketplace Lender SoFi Files for Bank Charter. Is an IPO in the Wings?

June 14, 2017
Paul Muolo
Last year, SoFi received approval to become a Fannie Mae seller/servicer.
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Short Takes: Lending to Real Estate Agents? / An Industrial Bank Charter / SoFi’s Purchase of Zenbanx / Apps Rise / C&C Moves Into Reno

June 14, 2017
Paul Muolo
And a business plan is born: lending money to real estate agents...
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Trump-Mandated Report on Regulatory Reform has Treasury Blaming Dodd-Frank for Tight Mortgage Credit

June 13, 2017
Paul Muolo
The Treasury Department says it’s possible that originations are being stifled by caps on points and fees charged to borrowers.
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A Problem: the Successors-in-Interest Provision of the CFPB’s Servicing Rule

June 13, 2017
Thomas Ressler
The industry is concerned the CFPB rule has the potential to put servicers smack-dab in the middle of some nasty family disputes…
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No Mortgage/GSE Reform This Year, Maybe No Bill Either

June 13, 2017
Paul Muolo
Last month, Federal Housing Finance Agency Director Mel Watt said he’s prepared to allow Fannie and Freddie to build some type of capital buffer to avoid a Treasury draw…
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Avoid Economic Disruptions When Pondering FHA Changes, Says MBA

June 11, 2017
George Brooks
HUD secretary Ben Carson could implement changes through mortgagee letters to shrink FHA’s role…
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Short Takes: Quicken Still Hiring, Especially in Tech / A Large NPL Sale for Fannie Mae / CALCAP’s Milestone / Colony Buys More SFR Units / Correction

June 11, 2017
Paul Muolo
The broker price opinions on the Fannie Mae NPL pools ranged from 81.03 percent to 88.02 percent…
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