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Inside the CFPB
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Mortgage CEO: ‘TRID Cost Us $500K in Profits’ Last Month

January 6, 2016
Paul Muolo
This CEO called the letter a "godsend."
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Short Takes: Freddie Mac Gives Price Breaks Through LOMC / What Happened to G-Fee Parity? / New CEO for Lenders One? / loanDepot Cranks Out the Second Liens / New Hires for National General

January 6, 2016
Paul Muolo
Introduced in Sept. 2015, fundings of loanDepot home equity loan products have nearly doubled every month since launch...
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JPM Fined $48 Million for Violating OCC Servicing Consent Order, EverBank $1 Million

January 6, 2016
Brandon Ivey
The OCC said the mortgage-related fine against Chase was due to the servicer’s actions from December 2011 through November 2013...
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Short Takes: Yet More TRID Problems? / CFPB Looking at ‘Pricing Concessions’ / NAMB Backs Savitt for House Seat / Ocwen Gets a B+ From KBRA / Lender Hires Former Capital One Executive

January 5, 2016
Paul Muolo and Brandon Ivey
Industry consultant Joe Garrett is advising his clients to keep a “concession log…”
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Liberal Consumer Group Wants to Trim Mortgage Interest for Jumbos

January 4, 2016
Brandon Ivey
“There is no policy rationale for the federal government to continue to subsidize the portion of mortgages that exceed $500,000,” said Sheila Crowley, NLIHC’s president and CEO.
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Quicken Exploring Options After Federal Judge Dismisses Its Case Against DOJ, HUD

January 4, 2016
Paul Muolo
Back in April, the privately held Quicken sued the two cabinet level agencies and their leaders, claiming the residential lender was a target of a “political agenda" under which the DOJ…
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FHA Urges Calendar-Year Lenders to Begin Recertification Process Early

January 4, 2016
George Brooks
The agency is warning lenders that the annual recertification can be a lengthy, time-consuming process.
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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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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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