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Inside the CFPB
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Sen. Warner Paid a Visit to Freddie Mac, GSE Bill in the Works

May 22, 2013
Paul Muolo
Sen. Warner recently paid a visit to Freddie Mac employees but offered little information about his pending GSE bill.
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Freddie and Fannie Ready to Sell MBS to Investors

May 22, 2013
John Bancroft and Paul Muolo
Fannie and Freddie were ordered by their regulator to sell illiquid securities. But those bonds may fetch a nice price in the secondary market.
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Certain FHA Loans Could Fall Into ‘Higher-Priced’ Bucket

May 22, 2013
George Brooks
Thanks to coming changes in FHA’s mortgage insurance premium cancellation policy, investors in the secondary market met avoid these loans.
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Republicans Seek to Revise QM Requirements, Maybe a Repeal?

May 21, 2013
Brandon Ivey
Might the controversial "qualified mortgage" rule be repealed? Maybe, if House Republicans have their way.
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New Ginnie Mae Buyout Policy Eliminates Consecutive Lates

May 21, 2013
George Brooks
MBS issuers, under a new proposal, will have greater leeway in buying delinquent mortgages out of Ginnie Mae pools.
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Short Takes: New York Slow on Loan Officer Approvals / GSEs Win Transfer Tax Case / Will the CFPB Unionize? / City National Enters Warehouse Space / Fay Servicing to Ramp up Hiring

May 21, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
New York State may be among the worst in the nation when it comes to approving loan officer applications.
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Appendix Q Compliance Key to Maintaining QM Legal Protections

May 20, 2013
Among the critical areas that mortgage lenders must pay close attention to in the CFPB’s ability-to-repay, qualified mortgage rule is what’s known as Appendix Q, which contains detailed underwriting guidance on how creditors must calculate the debt-to-income ratio in order to make a general QM loan subject to the 43 percent DTI limit. As adopted, Appendix Q generally requires items to be considered and verified for the two prior years, and requires well-documented projections for the following three years. However, on April 22...
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Sen. Reid Won’t Give Up on Confirmation Hearing for Cordray

May 20, 2013
Thomas Ressler
Sen. Harry Reid is vowing that CFPB director Richard Cordray will get another vote in the Senate.
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Watt FHFA Nomination Hearing Won’t Come Until Mid-June, a ‘Plan B’?

May 20, 2013
Charles Wisniowski
Progressives and other “Dump DeMarco” advocates are looking to a “Plan B” to replace the current acting head should Rep. Mel Watt’s nomination be significantly prolonged or even stall.
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JPMorgan Dumps Mortgage Brokers from USDA Loan Program

May 20, 2013
Paul Muolo
One of the largest USDA mortgage lenders in the U.S. is giving the boot to third-party loan brokers.
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