Consumer complaints to the CFPB fell by double digits in nearly every category during the fourth quarter of 2015, with total complaints down 20.1 percent for the period, despite the one area that showed an increase – prepaid cards – skyrocketing 242.1 percent, according to the latest analysis by Inside the CFPB. However, the lending industry’s performance vis-à-vis consumers generally deteriorated in most categories on an annual basis, the latest data from the CFPB consumer complaint database show.Leading the improved performance during 4Q15 was the student loan sector, which saw gripes drop by a huge 31.7 percent, followed by declines in the debt collection space (off 27.5 percent), and in the home mortgages and credit report categories, both of which saw ...

Residential lenders issued a record $435.8 billion of Ginnie Mae securities in 2015, according to Inside MBS & ABS, a handsome 47 percent increase from the prior year.

Specifically, the bureau’s notice asks for public comment on the agency’s use of resubmission error thresholds and how they should be calculated.

An industry advisory group formed to provide input on the development of the common securitization platform and single security for Fannie Mae and Freddie Mac to-be-announced MBS held its second meeting in December and addressed a wide range of industry concerns. A letter sent to the group by the Housing Policy Council raised questions about the timing of issuance of the single security, policy alignment between the two government-sponsored enterprises and the opportunities for public input and participation. The advisory group noted...

Then again, we also hear reports that the worst of the TRID mess will be over by the end of February…

Nonbank lenders accounted for nearly half (48.7 percent) of the single-family mortgages securitized by Fannie Mae and Freddie Mac during the fourth quarter of 2015, according to a new Inside The GSEs analysis of mortgage-backed securities disclosures. The nonbank share of new GSE business has been on a steady march higher over the past few years as the top tier of depository institutions has repositioned their mortgage strategies and more lenders have participated directly in the securitization process. Back in 2013, nonbanks accounted for just 31.0 percent of new Fannie/Freddie business. The momentum did slow somewhat in 2015, however. After boosting their aggregate share by 12.9 percentage points to 43.9 percent in 2014, the nonbank...

The Federal Housing Finance Agency’s Office of the Inspector General determined that the agency failed to properly oversee the GSEs’ single-family mortgage underwriting standards and variances. As a result, the OIG has reopened its recommendation from a previous audit report until the FHFA proves it has fully implemented the proper oversight. …

The flow of new mortgages delivered to Fannie Mae and Freddie Mac declined by 19.9 percent from the third to the fourth quarter of 2015, and a larger share of them came from third-party originators, according to a new Inside Mortgage Trends analysis of mortgage-backed securities data. The two government-sponsored enterprises securitized $179.01 billion of single-family mortgages during the fourth quarter of last year. Although the biggest factor ... [Includes two data charts]

While Fannie Mae recently said it would announce details this year about its plan to let lenders pay a risk fee as an alternative to repurchase for some defective loans, Freddie Mac said it’s “business as usual” and the GSE doesn’t plan to make lenders pay a fee for retaining some loans with defects. “We did look at charging a fee, but we believe we have an alternative of recourses, which means the lenders are not paying any fee up front, and if the loan performs there is no repurchase,” Christopher Mock, Freddie’s vice president of quality control, told Inside The GSEs. He said this allows the lender and the GSE to walk together down the performance trail of the loan.

Since issuing a proposed rule on duty-to-serve and opening it up to comments several weeks ago, the Federal Housing Finance Agency has received a handful of comments so far, including one from the Wisconsin Housing Alliance stating that the FHFA has “shirked their duties” by ignoring the needs of manufactured housing residents. The trade group, representing factory-built housing interests, noted that there is a gap in access to credit for buyers of used manufactured homes and added that local and national lenders have exited the market in droves thanks to increased regulation. The FHFA tackled duty-to-serve rulemaking in December, several years after being mandated by the Housing and...