The Consumer Financial Protection Bureau may have over-reached by extending its new bulls-eyes on debt collectors to mortgage servicers, according to some top mortgage industry attorneys. The CFPB last week warned all companies under its jurisdiction that they will be held accountable for unlawful conduct in collecting a consumer’s debts, citing its authority under the Dodd‐Frank Act, which prohibits “unfair, deceptive, or abusive” acts or practices (UDAAPs). Attorney Alan Kaplinsky, a practice leader in the Philadelphia office of the Ballard Spahr law firm, said it’s particularly significant that the bulletins not only address the conduct of debt collectors and debt buyers, but also are directed at creditors and servicers. CFPB Bulletin 2013‐07 makes...

Banks have a strong track record on obtaining Ginnie Mae approvals, nonbanks not so much.

Wells Fargo, the nation's large home funder, accounted for almost 31 percent of total Ginnie Mae issuance during the first half of 2013.

Bank of America's mortgage business continued to recover in the second quarter, but its rep and warranties exposure remained high at $16.64 billion.

Sens. Bob Corker, R-TN, and Mark Warner, D-VA, say their mortgage reform measure strikes the right chord between Democrat and Republican concerns.

Is the great refi wave just about over?

Nationstar Mortgage is issuing $250 million of debt, hinting that it may buy more MSRs from Bank of America.

The MBA believes that the Treasury Department – despite being the GSEs’ single biggest shareholder – has been absent on Fannie/Freddie reform since early 2011.

The numbers suggest that after seven quarters of complaints being received by the CFPB, mortgage lenders are getting a better handle on complaint resolution.

Accenture is making major inroads in the residential finance space with its purchase of Mortgage Cadence. Meanwhile, Fannie says market could move toward ARMs.