An agency spokesman told IMFnews that as a “general matter” the CFPB considers transfers significant if they involve at least 5,000 loans.

A big deal or ho-hum: Fannie Mae in late July said it will allow for shorter waiting periods involving mortgage debt charge-off accounts and mortgage debt that is discharged through a bankruptcy.

Ocwen received a subpoena from the Securities and Exchange Commission and another subpoena from the SEC appears to be on the way.

Over the past year, several top ranked depository lender/servicers have cut staff, but there has been less bloodletting at the nonbanks.

Mystery continues to surround the seller of that $27 billion MSR package...

Though mortgage securitizers, issuers, lenders and servicers support a proposal to consolidate Ginnie Mae’s two MBS program into a single security, certain specific issues appeared to divide them. In a recent joint letter to Ginnie Mae, the Securities Industry and Financial Markets Association and the Mortgage Bankers Association said many of their members agree on a number of the issues raised by the proposal, but in some cases disagree on the solutions. “It is clear that further discussion is warranted, and direct engagement with key stakeholders should be beneficial,” the trade groups suggested. Both industry groups were responding...

We only bring up the “going private” issue because class action attorneys have finally woken up to the fact that Ocwen’s shares have been clobbered over the past year...

The hedge fund contends the government’s actions short change investors and amounts to a de facto liquidation of Fannie Mae and Freddie Mac...

It was business as usual in the subprime servicing market during the second quarter of 2014, save for the lack of large transfers of servicing from banks to nonbank special servicers. Subprime mortgage performance continued to improve and the amount of subprime mortgages outstanding continued to decline. Some $374.0 billion in subprime mortgages were outstanding as of the end of the second quarter of 2014 ... [Includes one data chart]

FHA Commissioner Carol Galante has announced plans to step down from her current post, leaving behind a Mutual Mortgage Insurance Fund that appears well on its way to recovery and a slumping FHA business. Industry response to Galante’s Aug. 12 announcement was mixed. Some stakeholders applauded her toughness and resolve in steering FHA through hard times, while others criticized her for policies that made it more difficult and costly for first-time homebuyers to obtain an FHA-insured mortgage loan. Galante’s nearly three-and-a-half year stint as FHA commissioner was highlighted by her efforts to stabilize the FHA’s ailing Mutual Mortgage Insurance Fund, reduce losses and improve lender oversight. She achieved these goals by creating a comprehensive risk-management structure at FHA, revamping FHA pricing and credit policies, and ...