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Inside the CFPB
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Corker’s GSE Bill Raises a Host of Questions. Five or Six MBS Guarantors Need to be Up and Running For it to Work

January 31, 2018
Paul Muolo
The FHFA would be tasked with maximizing profits on any asset sales by Fannie and Freddie, according to the Corker bill…
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Widespread Support for HFSC Portfolio QM Bill

January 31, 2018
Brandon Ivey
However, at the markup, the bill was amended to limit the types of mortgages that will receive QM status.
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FHA Issues Disaster-Related Waiver for Early-Payment Default Reviews

January 31, 2018
George Brooks
Due to the string of natural disasters, FHA anticipates an increase in EPDs…
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Appeals Court Rules in PHH’s Favor in RESPA Dispute with the CFPB; However, CFPB's Constitutionality is Upheld

January 31, 2018
Thomas Ressler
The ruling is a huge win for the mortgage industry, said former CFPB attorney Benjamin Olson, now a partner at the Buckley Sandler law firm…
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Short Takes: Leaked DOJ Memo Directs Prosecutors to Dismiss Meritless FCA Cases / FCA by the Numbers / Joshua Rosner Weighs in on Corker Bill / Flushing GSE Money Down the Toilet? / Ally’s Mortgage Profit

January 31, 2018
George Brooks and Paul Muolo
DOJ notes that “over the last several years” there has been a record increase in qui tam (whistleblower) actions filed under the False Claims Act...
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Dever, Iannicola Latest Additions to Short List for CFPB Director. Or Maybe Jerry Buckley?

January 30, 2018
Thomas Ressler
“Jerry Buckley would fit the bill perfectly,” said one industry lobbyist...
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Short Takes: Mnuchin Says Treasury Remains Committed to GSE Reform / The 30-Year FRM Must Survive / More Private Capital, Yes / Thomas Marano’s New Problem to Solve: Walter / After 25 Years, Exec Bolts PHH for Home Point

January 30, 2018
Carisa Chappell and Paul Muolo
Mnuchin said the 30-year FRM cannot survive without Fannie and Freddie...
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GSE Reform Draft (#29) Lays Out a New Mortgage Market with a Federal Guarantee but Private Capital; FHFA and Ginnie in Charge; Treasury Can’t Sell GSE Stock

January 30, 2018
Paul Muolo
Treasury would be barred from selling or disposing of “any senior preferred shares, any interest in the warrants, any common shares acquired upon the exercise of the warrants, or any other equity interest that were acquired pursuant to the Senior Preferred Stock Purchase Agreement.”
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Ginnie Keeping a Close Eye on How Much Risk is Acceptable

January 29, 2018
George Brooks
Ginnie may require offenders to recalibrate their high-risk portfolio to more acceptable risk levels…
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New Milken Institute Report: The ‘Protected’ GSE Duopoly Must End

January 29, 2018
Paul Muolo
The authors note that 90 percent of Fannie/Freddie MBS trading occurs in the TBA forward market.
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