The head of the Consumer Financial Protection Bureau held his ground this week against pressure from Republican and Democrat lawmakers to take it easy on mortgage lenders in enforcing the bureau’s integrated disclosure rule. During a hearing before the House Financial Services Committee, Reps. Randy Neugebauer, R-TX, and Brad Sherman, D-CA, pressed CFPB Director Richard Cordray to consider a 60-day enforcement delay or a “soft enforcement” period when the new mortgage disclosures take effect Aug. 1. The new rule creates an integrated disclosure framework under the Truth in Lending Act and Real Estate Settlement Procedures Act, commonly known as TRID. Cordray did not come right out...

Most companies engaged in mortgage banking made a profit last year despite a rough first quarter, but nearly all participants earned less than in 2013. A new analysis by Inside Mortgage Trends, an affiliated newsletter, found that a diverse group of 30 public companies reported a combined $13.942 billion in mortgage-banking income for 2014. Different lenders report these earnings differently, but they generally include production, servicing, secondary market and the net effect of hedges and legal costs. For the 30 lenders, mortgage-banking earnings for the year were...[Includes one data chart]

Mortgage delinquencies continue to decline, prompting servicers to focus on customer service and refinances as opposed to loan modifications. The Inside Mortgage Finance Large Servicer Delinquency Index declined by 32.7 basis points in the fourth quarter of 2014 compared with the previous quarter. The 24 servicers tracked by the index had a delinquency rate of 6.34 percent in the fourth quarter compared with a rate of 7.59 percent in the fourth quarter of 2013. The Inside Mortgage Finance data are not seasonally adjusted. Improvements in performance were seen...[Includes one data chart]

Congress should encourage stronger credit enhancements and greater use of risk sharing to limit government exposure to mortgage losses, according to industry representatives. Testifying before the House Financial Services Subcommittee on Housing and Insurance, Rohit Gupta, president and chief executive of Genworth Mortgage Insurance, said the industry is not only highly capitalized and strongly regulated, but has a proven countercyclical credit enhancement that reduces taxpayer exposure. “We are...

The nation’s top consumer regulator told lawmakers the bureau has already provided an extended implementation period of 21 months...

Although George Ellison’s salary was not disclosed in the press release announcing his employment with the company, a subsequent filing provided details: $450,000 per year, another $450,000 in incentive bonuses...

Ginnie is currently managing TBW’s FHA portfolio and hopes to sell its Ginnie servicing rights sometime this year.

With little non-agency MBS issuance, Collingwood noted that it’s difficult to accurately price credit risk.

Freddie had 4,957 full-time employees and 50 part-timers as of Feb. 5, down 2.1 percent compared to a year ago.

Meanwhile, Ocwen watchers are scratching their heads over a fourth quarter goodwill charge that eventually could reach $420 million...