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Inside the CFPB
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FHFA Unveils Large Expansion of Areas Where Community Groups Get First Crack at REO

November 11, 2015
Carisa Chappell
The goal of the program is to help stabilize neighborhoods that were hardest hit by the real estate downturn by letting local community organizations review and purchase foreclosed properties first.
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Short Takes: Sen. Ted Cruz Wants to Kill HUD / A New 52-Week Low for Altisource Asset Management / Fannie Mae’s HQ Finally Hits the Market / NMI Gets Senior Secured Loan / The Fastest-Growing Servicers Among Us

November 11, 2015
Paul Muolo and Carisa Chappell
Sen. Rand Paul, R-KY, said he would not touch the mortgage interest deduction, but Dr. Ben Carson wasn't as friendly...
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One Month-Plus Into TRID: Fear of Disclosing Buyer Info and Complaints About the Great ‘Time Suck’

November 10, 2015
Paul Muolo
Bill Dallas of Skyline Lending said TRID preparation usurped all other projects...
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Five Oaks Takes Small Loss in 3Q, Runs into Delays on FHLBank Funding

November 10, 2015
Brandon Ivey
Five Oaks is approved to borrow up to $500 million in FHLBank advances.
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Short Takes: Goldman and Fortress Win the Bid for Fannie NPLs / It’s Hard Out There for a Mortgage REIT / UG Gets Good Grade on Security / InterLinc Mortgage Hires Former Envoy Executive

November 10, 2015
Paul Muolo and Carisa Chappell
The nation’s largest mortgage investing REIT, Annaly Capital Management, reported a $627 million loss in the third quarter compared to a $900 million profit in 2Q.
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An Issue That’s Not Going Away: Tech Vendor Performance on TRID

November 9, 2015
Thomas Ressler
“I don’t think it does a lot of good to play the ‘blame game’ and I don’t think that’s where the solution lies,” said Brian Benson, CEO of ClosingCorp.
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PHH-Merrill(?) PLS Contract Extension Talks Draw to a Close; Lender May Exit FHA

November 9, 2015
Paul Muolo
According to a transcript of the earnings call, PHH also is contemplating exiting the FHA program.
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Short Takes: loanDepot Moving Closer to IPO? / Garrett Suggests a ‘Reverse’ Merger for Stonegate / Revenue Falls Off the Table at Altisource Asset Management / Nationstar in Servicing-Released Option for MPF

November 9, 2015
Paul Muolo
Maybe a "reverse" merger might work for Stonegate Mortgage...
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The CFPB Hasn’t Outlawed MSAs Quite Yet, but It Sure Feels Like It

November 6, 2015
Thomas Ressler
A helpful piece of advice: MSA participants should avoid entering into agreements that provide for exclusivity, such as being named a preferred lender.
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The Coming HMDA Challenge: Accurately ‘Capturing’ Mortgage Data

November 6, 2015
Thomas Ressler
System upgrades, increased staffing and other costs also are driving industry anxiety, Wolters found.
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