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Inside the CFPB
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Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update

January 22, 2015
George Brooks, Brandon Ivey, and Paul Muolo
Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...
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CFPB Cements Two Small Changes to the TRID

January 21, 2015
Thomas Ressler
After hearing from the industry, the CFPB determined that the short turnaround could pose challenges for lenders that allow consumers to lock rates late in the day or after business hours.
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S&P Settles Charges Regarding Ratings for Commercial MBS, Non-Agency MBS

January 21, 2015
Brandon Ivey
In settling, S&P did not admit or deny any of the allegations levied against the firm.
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Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire

January 21, 2015
Brandon Ivey and Paul Muolo
Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…
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Citing FHA Premium Cut, Freedom Mortgage May Hire 500

January 20, 2015
Paul Muolo
The 50 basis point cut in FHA premiums is spurring some firms, including Freedom Mortgage, to increase hiring.
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Fannie Mae’s New Appraisal Product Causing Anxiety

January 20, 2015
George Brooks
Fannie's "Collateral Underwriter" will provide up to 20 comparables and appraisers will have to defend the comps they use...
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FHFA PMIER Rule Could be Accompanied by LLPA Announcement

January 20, 2015
Paul Muolo
“It’s hard to believe the FHFA will release the PMIER rules without doing something on LLPAs,” said one official.
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After Stepping Down, Ocwen Founder Erbey Set to Reap at Least $1.2 Million in Cash

January 20, 2015
Paul Muolo
The separation agreement prohibits the mortgage industry veteran from competing with Ocwen for at least 24 months.
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Short Takes: No Minimum FICOs for this FHA Lender / More Mortgage Gifts from President Obama? / Warehouse Mentioned in Earnings from Republic / DocMagic Expecting a Busy Year / Altisource Adds Vella

January 20, 2015
Paul Muolo
Assisting DocMagic with its work on RESPA-TILA disclosures is Richard Horn, a former senior advisor at the Consumer Financial Protection Bureau...
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Altisource Defends Ties to Ocwen, Cuts Staff; Stock Soars

January 16, 2015
Brandon Ivey
Altisource recently eliminated 800 employee positions and hundreds of contractors.
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