In its fundraising pitch for its lawsuit against the CFPB, the NAIHP states that, Neither Congress nor the executive branch holds any authority to curb CFPBs behavior. Only the courts can stop them.
In other subprime news, industry veteran Jon Daurio was recently in New York talking to potential investors about his new nonbank venture, Nikkael Capital Corp.
The HUD NPL auction features 5,000 delinquent single-family loans totaling $1 billion in unpaid principal balances with representations and warranties.
Just how big is Wells Fargo's Ginnie Mae market share? At Sept. 30, the bank controlled 31.53 percent of the market. Its closest competitor was JPMorgan Chase with a mere 11.75 percent.