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FHFA Issues Final Rule on Suspensions Under ‘Counter-Party’ Program

December 23, 2015
Carisa Chappell
The final rule from the FHFA also simplifies the standard for issuing suspension orders...
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White Paper Raises a Thorny Issue: Could Fannie Mae Have Avoided Conservatorship?

December 22, 2015
Carisa Chappell
“It is likely that Fannie Mae could have survived the financial crisis without the intervention of the Treasury,” the authors argue.
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PHH Files S-3 With the SEC, Lays the Groundwork for Some Type of Securities Offering

December 22, 2015
Paul Muolo
However, the new PHH filing does not contain the names of any underwriters, dealers or agents.
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Group of 13 Major Mortgage Firms Posted Weak Production and Servicing Results

December 21, 2015
John Bancroft
The group’s combined production-related income fell a lot more than their actual origination volume, which was down 5.8 percent from the second quarter...
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Short Takes: Don’t Let Your LOs Prepare TRID Disclosures? / LO ‘Scorecards’ on the Rise? / REIT Sub Gets FHLB Membership / CoreLogic Buys Vendor for $475 Million / A New Hire for Home Point

December 21, 2015
Paul Muolo, Brandon Ivey, and Sherry Muolo
We’re hearing more chatter of mortgage lenders starting a loan officer “scorecard” approach to grading their salesmen and women...
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Servicing Market Posts Rare Second Straight Quarterly Gain, Nonbanks Keep Marching On

December 18, 2015
John Bancroft
The Ginnie Mae share of total mortgage debt outstanding hit a record 15.2 percent at September 30, according to exclusive survey figures from Inside Mortgage Finance...
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Merrill Lynch Renews PLS Contract with PHH – But This Time Around It’s a ‘Non-Exclusive’ Arrangement

December 18, 2015
Paul Muolo
The BofA spokesman, when asked by Inside Mortgage Finance whether the bank will deliver fewer loans going forward, declined to comment.
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Four More Rate Hikes Coming from the Federal Reserve?

December 18, 2015
Thomas Ressler
Initial industry reaction to the rate hike was muted. Late this week, mortgage rates hardly budged...
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What We’re Hearing: No Trouble or Big Maybe-Trouble for PHH? / The Key Bank Dilemma / Subprime Ready to Roar? / What’s a ‘Safe’ Level for Subprime? / Chronos in M&A Deal / TRID Fines of $5K Per Day Per Violation

December 18, 2015
Paul Muolo
Rod Alba of ABA offered up this sobering thought: for violating the TRID rule, lenders could be fined up to $5,000 per violation, per day.
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Wells Set for Settlement Involving Inspections

December 18, 2015
Wells Fargo is close to reaching a $25.75 million settlement of a class-action lawsuit involving delinquent borrowers who were charged fees for property inspections. The settlement would resolve allegations of violations of the Racketeer Influenced and Corrupt Organizations Act, among other issues. The bank has denied the allegations while noting that it desires to settle the lawsuit to avoid “the burden, expense and uncertainty of continuing litigation.” The lawsuit, Young v. Wells Fargo ...
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