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Short Takes: Genworth Moves Closer to Delinking MI Unit / The Hottest Real Estate Markets, According to Veros / Wells Fargo Loses a Regional Production Rep / The Fastest Growing Servicers are Franklin American and Quicken

March 28, 2013
Paul Muolo and George Brooks
Genworth moves closer to delinking from its mortgage insurance unit. Meanwhile, Wells Fargo has suffered the loss of a well-regarded regional rep.
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OCC: Banks See Major Improvement in Residential Late Payments

March 28, 2013
Brandon Ivey
Is the tide turning on residential delinquencies suffered by banks or do the numbers look better because the group is selling legacy MSRs?
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Short Takes: MBA Hikes Origination Forecast, Applications Rise / Rep. Waters Applauds Move to Ban Incentive Payments on Force-Placed / Appraisal Complaints Continue / EverBank is How Large in Warehouse Lending?

March 27, 2013
Paul Muolo
Residential loan production for 2013 may turn out to be better than originally projected, thanks to a vastly improved purchase-money business.
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FHA Coverage Spikes in January, Wells and Quicken Lead the Pack

March 27, 2013
George Brooks
Try as they might, the government cannot keep a good MI program down. FHA endorsements rose almost 19 percent in January.
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Interest-Only Originations Rose by Almost 20 Percent in 2012

March 26, 2013
Brandon Ivey
Interest-only lending picked up steam in 2012 despite new regulations that make the loans less attractive from a 'qualified mortgage' point of view.
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Chow, Gibbs, Kaplan, Carley Announced as Regional Directors

March 25, 2013
The CFPB recently announced regional directors in its Office of Supervision Examinations. Edwin Chow, in the West region, is one of the founding staffers of the CFPB, and he joined the implementation team in September 2010. He brings 26 years of experience serving as acting regional director, regional deputy director, and assistant regional director with the Department of the Treasury’s Office of Thrift Supervision and the Federal Home Loan Bank Board San Francisco office. Anthony Gibbs, in the Midwest region, is the newest...
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Will GOP Senators Make Cordray A Lame Duck? Does it Matter?

March 25, 2013
With Senate Republican opposition to the structure of the CFPB showing no signs of faltering going into Congress’ spring break, speculation has begun to shift to what might happen at the bureau should the GOP again succeed in blockading Richard Cordray’s nomination as head of the bureau. The Democrat-controlled Senate Banking, Housing and Urban Affairs Committee last week approved, as expected, President Barack Obama’s nomination of Richard Cordray to be the director of the CFPB for a full, five-year term...
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Feds Try to Keep Canning at Bay While Hensarling Targets Funds

March 25, 2013
The National Labor Relations Board announced earlier this month that it will not seek en banc rehearing in Noel Canning v. NLRB, in which the U.S. Court of Appeals for the District of Columbia affirmed that President Barack Obama’s Jan. 4, 2012, recess appointments of three members to the board were unconstitutional. “The board, in consultation with the Department of Justice, intends to file a petition for certiorari with the United States Supreme Court for review of that decision,” the NLRB said. The petition is due...
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Senate Passes Budget, Including Ban on Using G-Fees for Non-Fannie/Freddie Expenditures

March 25, 2013
Paul Muolo
As part of the budget, an amendment passed the Senate that would prevent any hike in g-fees for non-housing issues.
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Banks, Thrifts Hike Their Holdings of First- Lien Mortgages

March 25, 2013
Brandon Ivey
Holding fixed-rate mortgages in portfolio was considered a dangerous practice for depositories, but no more.
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