Notwithstanding Efforts to Resolve FCA Issue, Lenders Remain at Risk January 3, 2018 George Brooks Aggressive FCA enforcement and steep settlement amounts have caused some banks to exit from the FHA market.Read More
PHH Will Pay $45 Million to Settle State Servicing Allegations January 3, 2018 Paul Muolo PHH Mortgage is in the process of transforming into a subservicing specialist. Read More
Short Takes: Morgan Stanley and PHH? / Share Price? / Subservicing Rules the Roost / Embrace Hires Legal Affairs Chief / A Name Change for Mortgage Lending Services January 3, 2018 Paul Muolo At Sept. 30, 2017, PHH had a total servicing portfolio (including subservicing contracts) of $162.7 billion...Read More
No Court Ruling Yet in CFPB’s English v. Mulvaney January 2, 2018 Thomas Ressler Meanwhile, the U.S. Chamber of Commerce asked the court for permission to file an amicus brief supporting the DOJ…Read More
Short Takes: Pickup Picks Up the Pace on Impac Buys / Buy Low, if You Can Get It / Stolen GSE Money? / No Longer ‘Distressed’ / New AI Chief Starts his Term January 2, 2018 Paul Muolo Richard Pickup, a real estate investor by trade, owns more than 10 percent of Impac… Read More
Want to Buy Mortgage Servicing Rights? You’d Better Have a License December 29, 2017 Brandon Ivey “If the state requires it, then the GSEs would require it, and could use their remedies in connection with any failure to do so,” said one attorney…Read More
HUD IG Anxious About Legacy Tech Systems; 87 Percent are ‘Old’ December 29, 2017 Paul Muolo What could go wrong? For starts, FHA might not be able to pay claims…Read More
What We’re Hearing: The Biggest Story of 2018? Fannie and Freddie, Of Course / An M&A Boom? / Good Luck Mr. Corso / Penny Spends Dollars to Buyback Common / A Very Short Publishing Break December 29, 2017 Paul Muolo We get the sense that merger and acquisition activity could be fierce as profit margins tighten... Read More
Expected on GSE Reform: Reconstituted Versions of Fannie and Freddie but… December 28, 2017 Paul Muolo What’s gestating now in Congress may represent the best chance of reforming the secondary market since Fannie Mae and Freddie Mac were placed into conservatorship in September 2008…Read More
The Ocwen Legal Settlement Tally: 25 Down, Five to Go December 28, 2017 Brandon Ivey Ocwen’s stock price peaked earlier in the decade at roughly $60.00 a share…Read More
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