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Inside the CFPB
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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…”
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On the Rise: FHA Loan ‘Defects’

December 29, 2016
George Brooks
The leading cause of adverse findings was incomplete or missing loan documents...
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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...
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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…
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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.
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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…
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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…
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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.
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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…
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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.
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