One problem with the (latest) refi boom ending is that some loan officers working at net branches start getting nervous and begin seeking better product menus elsewhere...

Fitch noted that a transaction manager’s compensation agreement will be important in determining any benefit...

CFPB Director Richard Cordray overrode a $6.4 million penalty set by an ALJ in the matter and ordered PHH to pay $109.2 million...

According to the consent order in the case, Ocwen had a history of ignoring the agency’s document requests...

The survey also found that about 90 percent of loans originated by banks were QM compliant compared to 84 percent last year...

A statement issued by MBA president David Stevens does not comment on the merits of the two cases but blames the CFPB for issuing LO comp rules that are not clear.

The regulator said Guarantee – which is in the process of liquidating – paid its LOs, in part, based on the interest rate of the loans they were bringing in.

They called on policymakers to “embrace” nonbanks and address unintended regulatory impacts that are seen as driving banks out of portions of the mortgage market.

Nevada Addresses ‘Super Lien’ Concerns. Nevada’s governor signed legislation last week addressing concerns raised by the FHFA regarding homeowners’ association liens. In September, the Nevada Supreme Court determined that an HOA super lien has priority lien status, which can trump the GSEs’ first lien status during foreclosure. Senate Bill 306 in Nevada aimed to address some of those issues by establishing a new limited right of redemption for lien holders after an HOA foreclosure sale, among other provisions. The FHFA has repeatedly noted it has an obligation to protect the GSEs’ rights, and will aggressively do so by bringing or supporting actions to contest HOA foreclosures that purport to extinguish GSE property interests in a manner

For the first time, individual shareholders have brought a suit against the Federal Housing Finance Agency alleging that the Treasury profit sweep was illegal and accused the agency of violating the Housing and Economic Recovery Act. The May lawsuit was filed in the U.S. District Court for Northern Iowa by three individual shareholders who owned stock in Fannie Mae and Freddie Mac prior to the Third Amendment.Thomas Saxton owns shares in the Z series of Freddie preferred stock and he owns shares of Freddie common stock with Ida Saxton.The pair own common stock both jointly and individually and acquired their shares in 2008. The third plaintiff is Bradely Payner, who owns shares of Fannie common stock.