New GSE Reserve Fund Bill. Rep. Marsha Blackburn, R-TN, introduced legislation on March 26 requiring the GSEs to send future profits to a newly established reserve fund administered by the FHFA. The bill is titled ''Enterprise Secondary Reserve Taxpayer Protection and Government Accountability Act of 2015'' and it would “establish a secondary reserve fund for a housing enterprise under conservatorship to protect taxpayers against loss in the event of a housing downturn, and for other purposes." Jumpstart GSE Reform Amendment. On March 25, Sens. Bob Corker, D-TN, and Mark Warner, D-VA, offered an amendment to the Jumpstart GSE Reform Act that would prohibit...

CFPB General Counsel Meredith Fuchs showed little sympathy for lenders worried about TRID's start date, referencing the rule's long implementation period.

For capital, the proposed baseline standard for all nonbanks would require a base net worth of $2.5 million...

The bill would exclude from the calculation insurance and taxes held in escrow and fees paid to affiliated companies...

Is it possible that Ocwen will sell the entire company and not just all of its agency servicing rights?

The mortgage industry isn’t achieving any more success than lawmakers on Capitol Hill in convincing the Consumer Financial Protection Bureau to take it easy on lenders when it’s time to start enforcing its integrated disclosure rule. Speaking at the American Bankers Association’s government relations event in Washington, DC, earlier this week, Virginia O’Neill, head of regulatory compliance for the trade group, recounted for attendees the experience of one community bank ...

State regulators proposed prudential standards for nonbank servicers this week, including provisions that would apply solely to “large, complex” servicers. Many of the standards align with generally accepted business practices and existing standards, including those established by the government-sponsored enterprises. “State regulators have primary credentialing and licensing authority over nonbank mortgage servicers, and are working to ensure ...

Fannie and Freddie don't get out of bed in the morning without first talking to the FHFA. (Then again, the two are in conservatorship.)

Mortgage professionals overwhelmingly believe the Dodd-Frank Act should be revised, removing barriers to innovation and to reduce the cost of manufacturing a mortgage.