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Servicing
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Equifax, Experian Top the CFPB Complaint List; Mortgage Gripes Down

April 6, 2016
Thomas Ressler
Total gripes to the bureau slid 5.0 percent in the first quarter and were off 3.0 percent on an annual basis...
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Short Takes: Discover, Liking Mortgages Again? / This Wouldn’t Happen at Yale! / WWWD? (What Will Watt Do?) / Now the Consumer Has the Upper Hand? / Stonegate Hires Alumnus

April 6, 2016
Carisa Chappell and Paul Muolo
FHFA chief Mel Watt is expected to issue a final decree this month…
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Short Takes: Jumbo MBS Ugly in 1Q16 / More TRID Nightmare Talk / CSS is Hiring / Marketplace Mortgage Continue Expansion / New Hires for WFG

April 5, 2016
Brandon Ivey and Paul Muolo
CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.
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Short Takes: 20 From WJB Land at Supreme / Bad Timing? / Joe Garrett Wants to Hold a CFPB Contest / The State of the TRID Scratch-and-Dent Market / GM&C Hires Former Fannie Mae Veteran

April 4, 2016
Paul Muolo
We also heard one report that earlier in the year a large production group from a competitor jumped ship and joined WJB in January.
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GAO Suggests Congress Give the CFPB More Power. What?

April 4, 2016
Thomas Ressler
Give the CFPB even more power? The GOP likely would not stand for such a thing...
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The Shifting Sands of Subservicing: Growth for Cenlar; Ocwen Loses Big

April 4, 2016
Paul Muolo
At yearend, Cenlar ranked first in subservicing contracts...
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Congress Opens Doors to Ranieri/Zandi & Co. Plan

April 4, 2016
Paul Muolo
Of course, just because five industry vets have issued a white paper, that doesn’t mean it can readily yield into legislation.
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Mortgage Banking Jobs Take it on the Chin in February

April 4, 2016
Paul Muolo
Although BLS reported declines, recent interviews conducted by IMFnews suggest that some nondepositories are in a hiring mode this spring, especially for retail loan officers.
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Other News in Brief/Later This Month

April 4, 2016
U.S. Military Personnel Continue to Report Problems With Their Mortgages. Complaints to the CFPB from American military personnel about their mortgages rose 10 percent from 2014 to 2015, according to a recent report from the bureau. The good news for mortgage lenders is that total complaints about their operations – roughly 9,900 – were less than half of the total generated by debt collection practices, which came to about 20,500. ... FHFA Wants Public Input on National Mortgage Borrower Survey. The Federal Housing Finance Agency is seeking public comments about the American Survey of Mortgage Borrowers, an information collection effort otherwise known as the National Survey of Existing Mortgage Borrowers. ...
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Surprise: OCC Cuts Disclosures of Key Mortgage Servicing Data at Banks

April 1, 2016
Brandon Ivey
Fact: The Mortgage Metrics report for the third quarter of 2015 was 66 pages while the most recent issue was slashed to just 14 pages.
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