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Inside the CFPB
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Mortgage Complaints Down Across the Board – According to the CFPB

April 20, 2016
Thomas Ressler
Wells Fargo was the subject of more mortgage complaints than any other player in the sector. Then again, Wells is both the largest lender and servicer.
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If the CFPB Loses the PHH Case, Congress and the White House Will Have to Fix the Agency

April 19, 2016
Paul Muolo
One point of contention is the CFPB’s legal status – the fact that it’s a single agency headed by a single person...
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Senate Banking Chair Wants GAO and CBO to Investigate Change in Course at the FHFA

April 19, 2016
Brandon Ivey
Shelby noted that Congress “has a responsibility to conduct proper oversight” over the FHFA and the GSEs.
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GOP Votes to Subject CFPB to Congressional Budget Process

April 19, 2016
Thomas Ressler
The American Bankers Association said it “strongly supports the principle of accountability and balance, and commends the sponsor of this measure for working to improve the accountability of the bureau.”
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Short Takes: Wells Fargo Stays the Course on FHA / But FHA Production Drops / A Large MSR Auction from Prestwick / A FHLB Deal from Phoenix / New Hires for New Penn and Ellie Mae

April 19, 2016
Paul Muolo
Wells Fargo spokesman Tom Goyda called FHA lending an “important tool” for the bank.
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The TRID Mess: Lenders Still Waiting on Formal Guidance, and Waiting and Waiting…

April 18, 2016
Thomas Ressler
In their recent exchange of letters, Sen. Corker articulated a handful of serious concerns with the TRID rule, while Cordray reiterated the ways the bureau has tried to help the industry…
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GAO: FHFA’s Indirect Oversight of Nonbanks is Not Enough

April 18, 2016
Carisa Chappell
MBA chief David Stevens told Inside The GSEs that given the recent growth in the nonbank servicing sector, it’s appropriate for regulatory authorities to ensure these institutions are effectively supervised.
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Banks Blame CFPB Rules for a Reduction in Mortgage Credit

April 18, 2016
Paul Muolo
But there was some good news: the percentage of single-family mortgages made to first-time home buyers continues to climb…
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FHA Revises Guidance for Calculating Student Loan Payments for DTI Purposes

April 18, 2016
George Brooks
The new guidance allows a 50 percent reduction in the percentage used to calculate monthly student-loan payments...
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Short Takes: Third Largest FHA Lender Settles with Uncle Sam / Friday Afternoon Appears to be the Witching Hour for FHA Settlements / Sometimes, the Best Defense is a Strong Offense / A New President and CEO For Stonegate Mortgage

April 18, 2016
Paul Muolo
The New Jersey-based Freedom is no ordinary FHA lender. According to Inside FHA/VA Lending it ranked third nationwide in FHA production last year with $4.52 billion.
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