To Privatize (or Not) Fannie and Freddie, That is the Question December 29, 2016 Carisa Chappell Tim Howard, a former Fannie Mae CFO, called Mnuchin’s comments “a welcome reset…”Read More
On the Rise: FHA Loan ‘Defects’ December 29, 2016 George Brooks The leading cause of adverse findings was incomplete or missing loan documents... Read More
Short Takes: A Host of Approvals Needed on PHH Deal / A $10 Million Termination Fee / Sell and Subservice / And the Ginnies Go To… / New Hire for Gateway Mortgage December 29, 2016 Paul Muolo New Residential is entitled to a $10 million termination fee if the sale falls apart...Read More
FHFA IG Notes Lack of Transparency in CSP Costs December 28, 2016 Carisa Chappell Instead, the FHFA only disclosed specific CSP cost data once – in a September 2015 status report…Read More
Mortgage Investor’s Lawsuit Against JPM Regarding National Servicing Settlement and HAMP Dismissed December 28, 2016 Brandon Ivey The claims relating to the servicing settlement were dismissed with prejudice, which means Schneider cannot bring them again. Read More
Short Takes: Okay, Maybe Trump Can Fire Cordray / Relying on the DOJ’s Office of Legal Counsel / It all Started with PHH / New Turf for WVA Brokerage Firm / Distressed Mortgage Deal December 28, 2016 Paul Muolo and Brandon Ivey The Mortgage Center, a West Virginia-based loan brokerage firm managed by Marc Savitt, plans to open new offices in Florida and New Mexico early next year…Read More
DB and Credit Suisse Settle Legacy MBS Cases with DOJ; Barclays Faces New Lawsuit December 27, 2016 Brandon Ivey Subprime MBS cases continue to haunt Wall Street…Read More
Cowen: Trump Will Have Trouble Replacing Cordray as Head of the CFPB December 27, 2016 If Trump wants to get rid of Cordray, he will have to fire him “for cause,” says Cowen analyst Jaret Seiberg. Read More
Treasury Department Officials: Obama Supports ‘Explicit’ Guaranty on a ‘Defined Class’ of MBS December 27, 2016 Paul Muolo and Carisa Chappell Some GSE observers believe an “implicit” guaranty is the same thing as an “explicit” one…Read More
Short Takes: Gone for Now: Really Low Rates and No Points / Tracking the Yield on the 10-Year / Why Home Price Gains May Taper Off / Nonbanks Get FHFA’s Approval December 27, 2016 Paul Muolo and Carisa Chappell “Home prices cannot rise faster than incomes and inflation indefinitely.” – David Blitzer, managing director of the index committee at S&P Dow Jones.Read More