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FHFA Director Mel Watt Rules Out G-Fee Cut

August 2, 2017
Paul Muolo
Watt noted that, “Some lenders are finally showing more willingness to extend credit to borrowers who meet the broader credit criteria reflected in the enterprises’ credit boxes…”
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Short Takes: Freddie Moves Closer to SFR Financing / Room for GSE Legislation to Get Done? / Michael Bright: Acting Ginnie Mae Chief / Applications Decline / A New Hire for Waterstone

August 2, 2017
Paul Muolo, Sherry Muolo, and Carisa Chappell
Cowen & Co. analyst Jaret Seiberg believes the Senate Banking Committee remains on track to unveil GSE reform legislation late in the fourth quarter...
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Radian Posts Strong MI Volume in 2Q, but Takes Huge Hit on Clayton and its ‘Services’ Unit

August 1, 2017
Paul Muolo
In past SEC filings Radian hinted that a write-down tied to its 2014 $305 million purchase of Clayton might be in order, but the company never pulled the trigger.
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A 25 Percent Earnings Decline for Freddie Mac; ‘Account Surplus’ with Uncle Sam will Swell to Almost $39 Billion

August 1, 2017
Paul Muolo
Freddie expects to make a $2 billion dividend payment to Treasury – the holder of its senior preferred stock – sometime in September.
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Short Takes: Freddie’s CEO Comments on Declining Capital Buffer / This is Not Your Parent’s Freddie Mac / Hensarling Calls for Investigation into Whether CFPB Chief Violated the Law / A Strong Quarter for Arch / Poulin Rejoins Mortgage Network

August 1, 2017
Paul Muolo and Carisa Chappell
Freddie Mac CEO Don Layton: "The fundamentals are strong and residual flaws are gone..."
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JD Power: Consumers None Too Happy with Mortgage Servicers These Days

August 1, 2017
Sherry Muolo
The noted research firm found that mortgage customers feel as if their servicers are more focused on profit than giving top-notch customer support...
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FHFA Chief Mel Watt Rules Out G-Fee Cut

August 1, 2017
Paul Muolo
“Some lenders are finally showing more willingness to extend credit to borrowers..." said FHFA Director Mel Watt.
Read More

OIG Plans to Review CFPB’s Internal Sharing of Complaint Data

July 31, 2017
The CFPB Office of Inspector General has taken on a new planned project to evaluate the effectiveness of efforts by the bureau’s Office of Consumer Response to share complaint data within the regulatory agency, according to the latest OIG work plan, released last week. “Specifically, this project will examine the extent to which [the Office of] Consumer Response is achieving its objective to share useful complaint data and analysis with internal stakeholders and Consumer Response’s controls over access and distribution of shared complaint data, which can contain sensitive consumer information,” the OIG said.The Office of Consumer Response is responsible for sharing complaint data with internal stakeholders within the CFPB in order to help the bureau supervise companies, enforce federal ...
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Spike in Mortgage Servicing Complaints Belies Mixed Results

July 31, 2017
As previously reported, the only area of mortgage-related consumer complaints that saw an increase in the second quarter was servicing, which saw a jump of 17.5 percent. But a deeper dive into the data shows a more complex and nuanced performance by the industry during that period of time, one perhaps dominated by extremes. As the chart on the following page illustrates, a handful of companies saw triple digit increases from the first quarter to the second, with Bayview Loan Servicing leading the way with a 152.6 percent surge. There was also a second tier of big increases in the upper double digits, led by TD Bank, which registered a leap of 90.9 percent...
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A Blowout Earnings Quarter for New Residential; REIT Continues to Buy Servicing Rights

July 31, 2017
Paul Muolo
New Residential has purchased several servicing portfolios over the past year, acquiring rights from CitiMortgage, Walter/Ditech and United Shore, among others.
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