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Inside the CFPB
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VA to Scrutinize Loan Closing Delays, Wants to Shorten Wait Times

June 3, 2015
George Brooks
The average closing time for a VA mortgage was 41 days, a reading taken in as of March of this year. A year ago it was 39 days.
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CFPB to be Sensitive to Lenders on TRID Compliance

June 3, 2015
Thomas Ressler
The reassurance on TRID was given Wednesday morning to Richard Hunt, president and CEO of the Consumer Bankers Association...
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Short Takes: FHFA Official Spills the Beans on LPMI, More / But Comments Made Behind Closed Doors / Mortgage Applications Down Modestly / Loans With MI Have Good Closing Record / A New Hire for Clayton

June 3, 2015
Paul Muolo
Not only is the FHFA scrutinizing lender-paid mortgage insurance products, but the agency might require higher capital standards...
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ATR Rule Has Done Little to Crimp Mortgage Activity by Banks

June 2, 2015
Brandon Ivey
Portfolio holdings of mortgages also have increased at a faster rate for smaller banks than larger ones.
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Short Takes: CFPB Fines of $1 Million a Day? / A Boon for Second-Lien Investors? / Billions of Dollars in HELOCs? / HARP Goes to Arizona / A New Hire for Hamilton

June 2, 2015
Brandon Ivey and Paul Muolo
According to one trader, secured nonperforming seconds sell in the secondary market for one penny on the dollar to 20 cents on the dollar…
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Blackstone’s ‘New’ Mortgage Company Can’t Take Apps Over the Web Until…the NYDFS Says So

June 2, 2015
Paul Muolo
In partnership with former Lehman Brothers Managing Director Brian Libman, Blackstone is trying to carry out a “roll-up” strategy...
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The Latest Lender to Pay Up via the FCA for FHA Violations: First Tennessee

June 2, 2015
George Brooks
The FHA loans were originated through the bank’s mortgage subsidiary, First Horizon Home Loans, which was sold to MetLife Bank in August 2008.
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FHA Proposes Clarification of DE Rules but Industry Wants More

June 1, 2015
George Brooks
By signing the addendum, the borrower certifies that he or she will make payments on the mortgage or become indebted to the federal government...
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Provident Says it Has ‘No Knowledge’ that its Brokers Were Allegedly Overcharging

June 1, 2015
Paul Muolo
Although Provident entered into a consent order, it said in a follow-up statement that it has no knowledge that brokers “were allegedly overcharging certain borrowers.”
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Short Takes: Two Harbors Readies a Jumbo MBS / Available: A Large Pool of Subprime Loans? / LenderLive Buys Walz / A Done Deal: The Merger of Two FHLBs / A New Hire for ZAIS

June 1, 2015
Brandon Ivey and Paul Muolo
We understand that a large pool of nonprime mortgage loans is looking for a home...
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