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Inside the CFPB
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What We’re Hearing: A Mystery (for Now): Franklin Codel’s Dismissal at Wells / A Major Changing of the Guard is Afoot / Rick Glass: Only the Strong Will Survive / Mick, Tell us How You Really Feel About the CFPB / Fannie & Freddie CEOs Seem Content…

November 17, 2017
Paul Muolo
A major changing of the guard is now afoot in the mortgage industry...
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Cleveland Fed Calls ‘Peer-to-Peer’ Loans ‘Predatory’ As Marketplace Issuance Continues to Grow

November 17, 2017
So-called peer-to-peer loans “resemble predatory loans in terms of the segment of the consumer market they serve and their impact on consumers’ finances,” according to a study published last week by the Federal Reserve Bank of Cleveland. The warning comes as issuance of ABS and MBS from marketplace lenders continues to grow, with growing acceptance from rating services and investors.
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Credit Suisse, MBIA Continue Fight Over MBS Fraud Claims; DOJ, Barclays Resume Settlement Talks

November 17, 2017
Credit Suisse and MBIA Insurance Corp. continued their wrangling in New York state appellate court in a $235 million MBS securities lawsuit brought by the bond guarantor in 2009.
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Fannie and Freddie Approved to Re-Enter LIHTC Market for First Time in 10 Years

November 17, 2017
Carisa Chappell
Freddie said it plans to close its first investment in January 2018.
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Pending Tax Reform has MBS Between ‘A Rock and a Hard Place’

November 16, 2017
Thomas Ressler
If substantial tax reform is enacted, it would likely lead to rising expectations about growth and inflation, leading to a selloff in rates…
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Lenders Start Your Engines: Texas Loosens Home-Equity Regulations

November 16, 2017
Brandon Ivey
The proposition revises the strict fee limits that Texas places on home-equity lines…
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Ginnie Mae President Candidate David Kittle Tells White House He Doesn’t Want the Job

November 16, 2017
Paul Muolo
Kittle was first approached by the White House nine months ago about the job.
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House Panel Passes Bill That Would Override State Usury Laws

November 16, 2017
Thomas Ressler
It remains to be seen whether the language of the bill will be incorporated into the regulatory relief package…
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Short Takes: Another Mortgage Trade Group Chief Announces Retirement / Redfin’s Mortgage Arm Growing Slowly / Annaly Executives Continue to Buy Stock / World Debt and U.S. Mortgage Debt / Resitrader’s Growth

November 16, 2017
Paul Muolo and Brandon Ivey
Annaly executives have purchased $24.3 million worth of company stock in the open market since 2011...
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Senate Panel Agrees on Multiple Mortgage Reforms As House Committee Passes Own Set of Provisions

November 16, 2017
Regulatory relief got a sudden and surprising boost on Capitol Hill early this week when the Senate Banking, Housing and Urban Affairs Committee unexpectedly passed a bipartisan package of provisions making it easier for lenders to extend mortgage credit to borrowers.
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