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Inside the CFPB
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Residential Originations Down 9.3 Percent at JPM in 1Q16 as Megabank’s CEO Laments the Mortgage Business

April 13, 2016
Paul Muolo
Maybe one of these days JPM will exit mortgages entirely. But for now, Jamie Dimon is staying put...
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MBA Urges the CFPB to Move Slowly on HMDA Resubmission Guidelines; TRID Mess Cited

April 13, 2016
Thomas Ressler
Because of continuing problems in implementing the TRID integrated disclosure rule, lenders have not been able to focus on the new HMDA requirements...
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Four More Nonbanks May Fail Because of TRID?

April 12, 2016
Paul Muolo
As IMFnews reported recently: one nonbank lender had a $910,000 jumbo mortgage rejected by a secondary market buyer because of a $19 TRID-related mistake on the disclosure form.
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Much at Stake for Industry in PHH Legal Challenge; Is the CFPB ‘Constitutional’?

April 12, 2016
Thomas Ressler
Another disturbing wrinkle was CFPB Director Richard Cordray rejecting an administrative law judge’s proposed penalty of $6.4 million against PHH and instead jacking it up to $109.2 million...
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It’s Official: New Lower MIPs on FHA Multifamily Mortgages

April 12, 2016
George Brooks
Additionally, the annual MIP for affordable mixed-income properties has been lowered to 35 bps...
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Short Takes: Share Price of Fannie and Freddie Spikes. Here’s Why… / Does Bernie Sanders Know About This? / Salaries Revealed at Stonegate Mortgage / Silver Hill Rolls Out New Multifamily Loan / Foreclosure Fall – Again

April 12, 2016
Paul Muolo
Fannie's CFO McFarland made her disclosure around the same time the U.S. Treasury changed the terms of the GSE bailout...
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Wells Fargo Settles FHA Claims for $1.2 Billion; Who’s Next?

April 11, 2016
Paul Muolo
As recently as this past summer, there was talk in the industry that Wells Fargo might counter-sue the government...
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Short Takes: The ‘Banksters’ Aren’t Going to Jail But They Are Paying Through the Nose (Goldman Sachs) / CFPB Chief Cordray Tries to Clear the Air on TRID ‘Cures’ / Nation’s Largest Mortgage REIT to Buy Another / Two New Directors for Fannie Mae

April 11, 2016
Paul Muolo and Brandon Ivey
Associate Attorney General Stuart Delery: “This resolution holds Goldman Sachs accountable for its serious misconduct..."
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Wells Fargo Agrees to Pay U.S. Record $1.2 Billion to Settle Allegations of FHA Fraud

April 9, 2016
Paul Muolo
As recently as this past summer, there was talk in the industry that Wells Fargo might counter-sue the government...
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Preserve Fannie and Freddie Somehow? Okay, but What About Expanding the Credit Box?

April 8, 2016
Carisa Chappell
What's the right answer to the GSE "problem"? A new Congress and White House will have to decide...
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