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Inside the CFPB
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Radian Discloses More Pain from Services Unit (Clayton); Tennyson is Out as President

October 18, 2017
Paul Muolo
The MI also terminated Jeff Tennyson as president of the unit. No replacement will be named, a spokeswoman told IMFnews.
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Short Takes: The Little Guy Gets a G-Fee Break / A Coming Spike in G-Fees? / More Financial Maneuvers by Radian / A Hot Streak for Non-Agency Prime MBS / A Stock Market Crash Warning from Treasury Secretary Mnuchin

October 18, 2017
Brandon Ivey and Paul Muolo
Might this suggest that g-fees charges could spike next year when zero hour comes?
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Ocwen Settles With Arkansas, DC, Tennessee; Hatchet Now Buried With 20 Jurisdictions

October 17, 2017
Thomas Ressler
Investors are still waiting for Ocwen’s biggest outstanding dispute – the one with the CFPB – to be settled, one way or the other.
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CFPB Eyeballing New Disclosures for Reverse Mortgages?

October 17, 2017
Thomas Ressler
In recent months, the consumer bureau has expressed concerns about the risks associated with reverse mortgages.
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Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization

October 17, 2017
Paul Muolo
With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms...
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Institutional Investors Reduce Positions in PHH. Meaning?

October 17, 2017
Paul Muolo
The disclosures aren’t entirely surprising given that PHH recently wrapped up a generous buyback offer…
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CFPB Enforcement Chief Anthony Alexis to Depart

October 16, 2017
Thomas Ressler
Before joining the bureau in 2012, Alexis was a complex litigation and white collar partner at the Mayer Brown law firm in Washington, DC…
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Citadel Receives Ratings from Morningstar; Look for a Nonprime MBS in January

October 16, 2017
Brandon Ivey
Morningstar said the company’s underwriting process, quality control and compliance functions were factors in the rankings…
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HUD Secretary Ben Carson Open to Excising HECMs from the MMIF

October 13, 2017
George Brooks
Rep. Heck said he will ask the GAO to study and recommend options for improving the reverse-mortgage program, including shifting HECMs out of the MMIF...
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What We’re Hearing: FHFA Chief Has a ‘Number of Options’ on Zero Capital / Is That a ‘Hard’ Deadline? / Once Tax Reform is Done, Next Up: the GSEs / Can HUD Secretary Carson Get the IG to Back Off on the FCA? / Ocwen Kills Wholesale. Meaning?

October 13, 2017
Paul Muolo
Meanwhile, one detail about the capital buffer falling to zero remains unclear: On Jan. 1 will every single penny of the $600 million (at each) be carted away?
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