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Inside the CFPB
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Short Takes: You Can Rule Out Other Lenders Suing HUD / $1.25 Billion Buys A Ton of Lawyers / Michigan Friendlier Than DC? / Erbey Still Loves Ocwen / LeaderOne Hires Light

January 4, 2016
Paul Muolo
“A terrible outcome,” one mortgage consultant told IMFnews…
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Nationstar Registers $498.5 Million of Debt Securities with the SEC

December 31, 2015
Paul Muolo
Nationstar Mortgage is laying the ground work for a huge debt sale. But what will it use the money for?
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Non-QM Trouble Ahead: Why Some Lenders Avoid the Empire State

December 31, 2015
Brandon Ivey
Eric Morgenson, a sales manager at Angel Oak, said the lender’s main concern involves New York's foreclosure timelines
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PennyMac Registers Shares for Sale; Potential Sellers Include CEO Kurland, BlackRock, Others…

December 31, 2015
Paul Muolo
If Kurland sells all of the shares he registered, it will leave him with 424,025, making him (still) the largest individual shareholder in the publicly traded REIT.
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In the New Year, Look for Rule Changes from the VA on Fees, Appraisers, More…

December 31, 2015
George Brooks
One proposed rule would establish reasonable fees that VA lenders may charge in connection with the origination and servicing of loans.
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Short Takes: The ‘Biggest’ Mortgage Stories of 2015? A Subject Ranking, for Sure / But Here’s the List: Strong Origination Volumes; TRID, Nonbanks, FHA Loan Volumes, No GSE Reform, Blackstone’s Mortgage Growth…

December 31, 2015
Paul Muolo
The biggest mortgage story of 2015? How about origination volumes being a lot better than anyone dreamed of?
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Some Lenders Hold Off on Non-QMs in New York

December 31, 2015
Some lenders offering non-qualified mortgages see the product as a way to generate volume in a sector of the market that most competitors are avoiding. However, even some prominent non-QM lenders aren’t comfortable originating the loans in New York State. New York was the fourth-ranked state in terms of total originations in 2014, according to an analysis of Home Mortgage Disclosure Act data by Inside Mortgage Trends, an affiliated publication, accounting for 4.2 percent of ...
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Little Impact Expected from DFA’s Risk-Retention

December 31, 2015
Risk-retention requirements established by the Dodd-Frank Act for certain non-agency mortgage-backed securities took effect at the end of 2015. Industry analysts suggest that the requirements will have minimal impact on industry participants’ current practices. “Risk-retention rules will not affect overall residential MBS issuance levels because qualified mortgage issuers will be exempt from risk-retention rules, and non-QM issuers already retain risk,” according to analysts at Moody’s Investors Service ...
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CFPB Issues TRID ‘Clarifying’ Letter; GSEs Won’t Conduct ‘Routine’ Post Purchase Reviews

December 30, 2015
Thomas Ressler
The CFPB letter is aimed at preventing the secondary mortgage market from getting clogged up...
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SEC Faults Larger Rating Services for Issues Tied to Reviews on Non-Agency MBS

December 30, 2015
Brandon Ivey
The SEC recommends that the rating service in question establish and maintain effective internal controls and more…
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