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Inside the CFPB
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Supreme Court Takes Case on Fair Debt Collection Practices Act and Non-Judicial Mortgage Foreclosures

July 12, 2018
The U.S. Supreme Court is scheduled to hear a case that will determine whether non-judicial foreclosures are subject to protections provided by the Fair Debt Collection Practices Act. Lower courts have split on the issue, causing problems for servicers and borrowers.
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The Fed of New York Likes What it Sees on ‘Fintech’

July 11, 2018
Brandon Ivey
The Fed report focused on the origination of FHA mortgages, which are generally more risky than loans eligible for sale to GSEs…
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New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority

July 11, 2018
Paul Muolo
FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…
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PMI Analysts Look at Fannie’s New MI Pilot, Wondering If It Poses a Threat

July 11, 2018
Paul Muolo
But there’s a catch for lenders: Originators will have to pay an additional loan-level price adjustment…
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Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage

July 11, 2018
Paul Muolo
Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...
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Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB

July 10, 2018
Paul Muolo
Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.
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Agencies Leaning More on the ‘QM Patch’

July 9, 2018
John Bancroft
The share of high-DTI loans has continued to go up this year…
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CFPB Deputy Director English Announces Resignation. Her Legal Challenge Ends

July 9, 2018
Yemeng Yang
Last fall, English was named the CFPB’s deputy director by departing Director Richard Cordray...
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Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

July 9, 2018
Carisa Chappell and Paul Muolo
Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.
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CFPB Closes Investigation of Zillow: Another Industry Win on RESPA?

July 9, 2018
The CFPB recently dropped its RESPA-related investigation of Zillow, deciding not to bring enforcement charges against the online real estate database firm, according to a new public filing. At issue was Zillow’s co-marketing program, which allows real estate agents and lenders to advertise together on the firm’s website. As part of the launch, Zillow had boasted that its “premier agents” can invite lenders to share marketing costs. “Lenders get featured next to the agents on Zillow ...
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