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The Supreme Court Could be the Final Venue for PHH Corp. v. CFPB

May 25, 2017
Thomas Ressler
One constitutional issue that garnered some attention: whether a multi-member commission is more legitimate than a single director…
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Nonprime Lender Citadel Ready to Enter the Small-Balance Commercial Market

May 25, 2017
Paul Muolo
Citadel’s small-balance commercial program will include mixed-use retail and other loan types.
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More MSR Offerings from Incenter

May 25, 2017
Paul Muolo
For the week, IMA rolled out $3.87 billion worth of servicing auctions.
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Short Takes: Trump Copies Obama’s FHA Tech-Fee Idea / More Wholesale Lenders? / Home Point Deal Progresses / CHLA Presses for FHA Premium Cut / A New Director at Impac Mortgage

May 25, 2017
Paul Muolo, George Brooks, and Brandon Ivey
When’s the last time a publicly traded mortgage company was sold in a stock transaction?
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In the Mortgage M&A Game, New Entrants Eye Smaller Shops, RPM Mortgage Nears a Deal

May 25, 2017
As summer approaches, the mortgage mergers-and-acquisitions market is heating up – with mostly talk. However, soon that chatter may lead to actual deals. According to investment banking sources, at least three mid-sized nonbanks may pull the exit parachute soon, with offering books ready to follow. The identity of the three firms was not provided, but the firms are well known, said one source. Meanwhile, the list of possible buyers hasn’t changed...
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Industry Groups Push for Supreme Court to Take Up Case Involving ‘Super-Priority’ Liens

May 25, 2017
A split in court rulings in cases involving “super-priority” liens makes the issue ripe for consideration by the Supreme Court of the United States, according to industry trade groups. Last week, the Mortgage Bankers Association, the American Bankers Association and the U.S. Chamber of Commerce submitted a joint amicus brief to the Supreme Court, stressing that super-priority liens “eviscerate” the traditional standing of mortgages. The court case of interest to the trade groups is...
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Trump Aims to ‘Restructure’ the CFPB and Slash Agency Spending by 22.4 Percent

May 24, 2017
Paul Muolo
The Trump White House wants to slash the budget of the CFPB, an independent agency it has no control over...
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The MSR Market Firms Up; More Buyers; What Could Go Wrong?

May 24, 2017
Paul Muolo
Servicing advisors Steve Harris and Mark Garland view the MSR market as improving…
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MBA Chief: Don’t Leave Necessary GSE Reforms to the FHFA

May 24, 2017
Paul Muolo
MBA's Stevens once again slams those in favor of a GSE “recap and release” plan, saying this group consists “primarily [of] stock speculators who are most concerned about personal profits” rather than the future of the U.S. housing system.”
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Short Takes: ABA Wants Explicit Guaranty on MBS / Does it Matter? / Trump Wants to Kill USDA Loan Program / Rep. Hensarling an Optimist but… / A Promotion at Arch MI

May 24, 2017
Paul Muolo and Thomas Ressler
In the new Trump budget, the White House takes an ax to the USDA’s rural single-family housing direct loan program.
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