The new Bachus bill could be a sign that House Republicans are making a fresh push to force a compromise with the Obama administration over the structure of the CFPB.
One of the best kept secrets in the servicing sector is a bifurcated mortgage program initiated by Fannie Mae that has been gathering momentum over the past six months.
There is a whole other level of supervisory and enforcement authority available to the bureau under a director approved with the consent of the Senate, mostly having to do with non-bank lending.
The expanded system would include a more comprehensive method for measuring lenders loss mitigation activities as well as their compliance with FHAs default servicing requirements.
Freddie Mac's "low activity fee" will be mostly eliminated. However, it will still apply to originators that have not sold a loan to the GSE in 36 months.
When rates spiked this week, margin calls to MBS investors increased. Lenders are nervous but next will will be the real test, mortgage executives told Inside Mortgage Finance.