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First-Time Homebuyers Make Inroads. Can It Last?

February 24, 2016
Brandon Ivey
“We see a lot of multiple offers, especially for first-time buyer ranges,” said one real estate agent based in Washington State.
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Fairholme Chief Claims There Were ‘Settlement Communications’ Between the Fund and Government Over the GSE Net Worth Sweep

February 24, 2016
Paul Muolo
Fairholme is feeling the heat from investors over poor performance, with Berkowitz noting the fund’s returns have “put us in the dog house.”
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Short Takes: The TRID Mess and Due Diligence Delays / What if Bruce Berkowitz’s GSE Bet Doesn’t Pay Off? / Closer to the Finish Line, Really? / An Ugly Future for Homeownership? / Google Quits Mortgages / New Hires for Flagstar

February 24, 2016
Paul Muolo
Meanwhile, Fairholme’s case against the government is still pending and Berkowitz said from a legal standpoint, “We’re getting closer to the finish line…”
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Warehouse Lines Just About Flat in 4Q, but Loans Staying on Lines Longer Because of TRID

February 23, 2016
Paul Muolo
Thanks to falling interest rates, some warehouse managers are starting to hear their telephones ring with requests for new credit.
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An Underused Tool? The False Claims Act as it Applies to GSE Loans

February 23, 2016
Carisa Chappell
Schilling cites a 2009 amendment to the DOJ’s FCA policy that expanded the boundaries of where it can be applied. He said now a claim can include a request for money made to a recipient of government funds.
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As ‘Captives’ Get the Boot, Traditional Insurance Firms Increase FHLB Membership

February 23, 2016
Carisa Chappell
Several groups of traditional insurance companies have substantially increased their borrowing capacity from the FHLB system as well.
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MBA Increases Residential Origination Forecast to $1.48 Trillion

February 23, 2016
Paul Muolo
Compared to an estimate released at its annual convention in October, the trade group's production forecast is up 12.3 percent.
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Short Takes: A 178 Percent Increase in Originations at One Company / Taking it on the Chin? / On the Way Out: Back-End Risk Sharing? / Liquidity Issues? / REIT Buys Back Stock

February 23, 2016
Carisa Chappell and Paul Muolo
Baldwin noted that experienced mortgage bankers have grown to expect seasonality, but that doesn’t mean they have to like it…
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Banks and Thrifts Continue Their Love Affair With MBS

February 22, 2016
John Bancroft
As banks cede market share to nondepositories, an odd thing is happening: banks and thrifts are hiking their investment in MBS.
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Debt Collection Complaints Drop by Double Digits in 4Q15, Data Show

February 22, 2016
Consumers complained to the CFPB about debt collection issues at a substantially reduced level during the fourth quarter of 2015, according to a new analysis and ranking by Inside the CFPB. During the period ending Dec. 31, 2015, consumer gripes were down 27.5 percent versus the previous quarter.Among the top 50 companies as ranked by consumer criticisms, 45 saw a double-digit percentage decline. Year over year, the story is less inspirational, with consumer kvetching down a mere 0.6 percent. Six companies saw complaints leap by triple digit percentages. To put some anecdotal flesh on these empirical bones, in the CFPB’s most recent supervisory highlights report, the bureau pointed out that during its examination of at least one debt collector, ...
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