Is the White House getting cold feet on administrative reform of Fannie and Freddie? Maybe, maybe not, but it appears the Federal Housing Finance Agency may not release its GSE capital rule until December.
The Mortgage Bankers Association is making headway on getting the CFPB to change its loan originator compensation rules. But how far will the bureau go?
Industry groups are unsettled by state mortgage servicing requirements that go beyond the Consumer Financial Protection Bureau’s rules. More than 30 states now require nonbank servicers to obtain licenses.
Lenders approve fewer loan applications and apply more conservative underwriting standards in states that impose a judicial foreclosure process, according to new research.
Experts differed on core issues regarding defining “abusive,” but generally agreed the CFPB could issue guidance, rather than a formal rule, to clarify the situation.
State regulators are showing no sign of slackening their focus on "fair servicing," with mortgage processors seeing more examinations focusing on disparate-impact theories.
Grapevine: A few days ahead of a scheduled bankruptcy auction, New Residential Investment Corp. has swooped in and made a "stalking horse" bid. Meanwhile, a big promotion at Fannie Mae and a record month for Guaranteed Rate.
The company agreed to pay $32.5 million in damages to settle False Claims Act allegations tied to FHA underwriting. it admitted no wrongdoing while agreeing to stay in the program.
It's no secret that Ginnie Mae officials are losing sleep over nonbanks dominating the government MBS market. With liquidity a primary concern, the agency is ready to consider "non-traditional" investors in its MSRs. But there's a catch: They may have to commit as much as $1 billion.
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