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Inside the CFPB
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REIT With Ties to Freedom Mortgage Moves Closer to IPO Date

October 1, 2013
Paul Muolo
A flurry of new SEC filings suggests that Cherry Hill Mortgage Investment Corp. may go public this week, possibly by Friday.
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Short Takes: What Government Shutdown? Senate Panel Meets on Non-Agency Market / CashCall Offering a 2.99 Percent Mortgage / Stonegate Updates IPO Filing / How to Best Loosen Mortgage Credit? / Mark Korell Returns to Mortgage Banking

October 1, 2013
Paul Muolo, Brandon Ivey, and Charles Wisniowski
Is refi specialist CashCall still on the auction block? It’s hard to say since the company doesn’t return telephone calls about the matter.
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Second Shellpoint Jumbo MBS Deal Delayed

October 1, 2013
Paul Muolo and Brandon Ivey
Sources contend that other pending jumbo deals could be reduced in size until the market improves.
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Clayton Resists Wide-Ranging MBS Subpoena But Has Provided Prosecutors with Plenty of Documents

October 1, 2013
Brandon Ivey
The U.S. Attorney’s Office for the District of Connecticut, on behalf of the RMBS Working Group, is seeking an order to compel Clayton to cooperate with a subpoena issued in early July.
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HUD Issues Proposed Qualified Mortgage Rule

September 30, 2013
George Brooks
Except for Title I property improvement loans, HUD proposes to adopt the statutory points and fees structure for all FHA-insured single-family mortgages as implemented under the FPB's QM/Ability-to-Repay final rule.
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FHA Warns That Its Commitment Authority Will Run Out if Shutdown is Not Brief

September 30, 2013
Paul Muolo
FHA will continue to insure mortgages if the government closes but cautions that its commitment authority eventually will run dry. Potential homeowners "will be impacted," it warns.
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Short Takes: GSE Loan Limit Announcement Coming… / Kyle Bass Likes PennyMac / Will PennyMac Issue an NPL MBS? / Investors Gobble Up Nationstar Paper / MBA Chief Economist Stepping Down

September 30, 2013
Paul Muolo
The much anticipated announcement on lower GSE loan limits could be pushed back to mid-October.
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FHFA IG Dings Agency for Lack of Clarity, Oversight of Fannie’s REO Pilot

September 30, 2013
Charles Wisniowski
Critics of program contend that the strings attached by Fannie Mae require too much oversight of REO investors, driving away potential top bidders.
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FHA Asks For First Bailout in Agency History, But Hints It May Never Use the Money

September 27, 2013
Paul Muolo
FHA admits it will need a bailout, well sort of.
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Matched Data Show Differences in Performance

September 27, 2013
Borrowers or loan officers misreporting income on loan applications at the height of the housing boom may have pushed up the default rate of high-income borrowers, according to a new Federal Reserve analysis of Home Mortgage Disclosure Data that was matched with non-HMDA credit data. Researchers Neil Bhutta and Glenn Canner of the Fed’s Division of Research and Statistics found that many borrowers classified as high-income may actually have had lower incomes than what they stated on applications, and ...
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