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Inside the CFPB
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NFHA Piles on Foreclosure-Related Accusations Against BofA. Zika Allegations Too. BofA Disputes the Charges

September 1, 2016
Brandon Ivey
The consumer advocate charges that BofA is exacerbating the risk of spreading the Zika virus in South Florida…
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HUD Updates Single-Family Property Disposition Regulations

September 1, 2016
George Brooks
The codified changes include limiting the provision of settlement-cost assistance to owner-occupants.
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TRID Compliance Issues Disclosed on New Nonprime MBS from Angel Oak, Deephaven

September 1, 2016
Brandon Ivey
The originators believe they made a good-faith effort to address all TRID violations through the issuance of revised disclosures…
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FCC Limits ‘Robocalls’ on Mortgage Collections, More…

August 31, 2016
Thomas Ressler
The new rules apply to each caller, rather than each debt…
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Short Takes: In the Jumbo Space, Banks Were the Top Gainers / Dave Stevens Isn’t Interested in the Job, but … / Former Mortgage Chief Indicted

August 31, 2016
George Brooks and Paul Muolo
What Stevens describes sounds like something a trade group might want to do...
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MBA Issues Warning on Lenders Getting Involved in Downpayment Assistance Programs

August 29, 2016
George Brooks
The FHA and the Inspector General of HUD currently are at odds over permissible sources of single-family downpayment assistance offered through housing finance agencies.
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Short Takes: Just Because You’re Kicked Off the NYSE, That Doesn’t Mean… / Buying an MB for Diversification Purposes / A 10 Percent Broker Market Share and Holding / Clayton and Angel Oak / Nationstar is Hiring!

August 29, 2016
Paul Muolo
The nation's fourth largest servicer, Nationstar Mortgage, will hold a job fair on Sept. 12 at the Maude Cobb Convention Center in Longview, TX.
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GSEs Introduce a New Loan Dispute Appeal Process…

August 26, 2016
Carisa Chappell
Fannie Mae and Freddie Mac introduced the IDR program back in February as the final piece to the representation-and-warranties framework.
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Angel Oak and Deephaven Issue Nonprime MBS. A Start of Something Big for the ‘New Breed’ of Non-Agency Lenders?

August 26, 2016
Over the past week, two nonprime MBS deals came to light: a $138.89 million bond issued by Deephaven Residential Mortgage Trust and a $119.38 million security from Angel Oak Real Estate Investment Trust. Both deals were private placements backed by newly originated mortgages and underwritten by Wall Street veterans Credit Suisse and Nomura Securities. Although both were publicized this week, the transactions – which were not rated – closed...
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Law Firms Publish Joint Paper on CMBS Risk-Retention; First Compliant Deal Closes

August 26, 2016
In a somewhat uncommon occurrence, four law firms published a position paper late last week aimed at helping industry participants comply with pending risk-retention requirements for new commercial MBS. The paper was written by attorneys at Cadwalader, Wickersham & Taft; Dechert; Orrick, Herrington & Sutcliffe; and Sidley Austin. “The paper was authored...
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