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Rep. Waters: House Democrats Drafting ‘Alternative Approach’ to GSE Reform

November 5, 2013
Charles Wisniowski
Rep. Maxine Waters, the ranking Democrat on the panel, is promising that GSE "stakeholders" will have input on her housing reform bill.
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Jumbo MBS Thaw: Redwood Offers its First Non-Agency Security Since August

November 5, 2013
Brandon Ivey
The loans in the new Redwood deal have the strong characteristics associated with jumbos, including an average credit score of 766 and a combined loan-to-value ratio of almost 71 percent.
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Mortgage Complaints Filed with the CFPB Drop, BofA Still Leads the Pack

November 5, 2013
Thomas Ressler
Bank of America led all residential firms in cumulative mortgage complaints: 23,004 at the end of September. Wells Fargo was a distant second with 12,261.
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Short Takes: Does the CFPB Understand Mortgage Banking? / Whole Loan Trading Slows / FHFA Cracks Down on Force-Placed Insurance (Again) / Symbiosis: Ocwen and HLSS / More Ads from Greenlight and CashCall

November 5, 2013
Paul Muolo and Charles Wisniowski
When it comes to auditing mortgage lenders, does the CFPB know what it’s doing? It all depends on who you talk to. Also, the FHFA cracks down on force placed insurance (again).
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S&P Tops in Rating Non-Agency MBS

November 4, 2013
John Bancroft
Standard & Poor's rated $11.65 billion of non-agency MBS issued through the end of September.
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FHA’s Galante: Government MI Premiums Near the ‘Tipping Point’

November 4, 2013
George Brooks
Housing Commissioner Carol Galante warned that with interest rates rising, the FHA may have reached a “tipping point” with its mortgage insurance premiums.
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Two Harbors Inks MSR Deal with PHH, Still in the Hunt on Flagstar

November 4, 2013
Paul Muolo
Two Harbors, a publicly traded REIT, is getting aggressive when it comes to MSR acquisitions.
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FBR Pegs Originations at $1.5 Trillion in 2014

November 4, 2013
Paul Muolo
FBR Capital Markets believes that smaller shops are not being counted in new estimates on loan production.
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Short Takes: Subprime Shop Has Strong Returns / The Next Vote on Mel Watt Will Come… / Nonbank Trade Group Wants a Say in GSE Reform / Auction.com Sells Commercial Assets / LPS on Prepayment Speeds

November 4, 2013
Brandon Ivey and Paul Muolo
Is the White House ready to give up on Rep. Mel Watt, D-NC, to be the next director of the Federal Housing Finance Agency? Don’t bet on it.
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CFPB Servicing Rules Obviate Need For More Law, Congress Told

November 4, 2013
Congress has no need to enact additional legislation to impose tough loss-mitigation standards on servicers and owners of securitized residential mortgage loans for the benefit of consumers. The CFPB’s mortgage servicing regulation thoroughly covers all related issues in this regard, according to a leading industry attorney. Larry Platt, a consumer finance lawyer at the global law firm K&L Gates, LLP, appeared late last month in a personal capacity before the Senate Banking, Housing and Urban Affairs Committee to discuss the Housing...
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