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Inside the CFPB
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CFPB Warns Mortgage Firms on How they Treat Borrowers with Disability Income

November 19, 2014
Thomas Ressler
The new bulletin discusses standards and guidelines on verification of disability income, including those under the CFPB’s ability-to-repay rule.
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Short Takes: Any G-Fee News? No / Keeping an Eye on MSR Sales / Why Realtors Will Live Forever / California Home Sales Nothing Special / Jeb Will be Back, Hensarling At Least

November 19, 2014
George Brooks, Paul Muolo, and Charles Wisniowski
After a servicing sale closes, the GSEs must monitor each transaction to make sure the transfer of receivables took place in a timely manner and more…
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Fannie Continues to Loosen Rules; 990 Days for a Foreclosure in New York

November 18, 2014
Paul Muolo
Fannie Mae recently loosened its credit standards on condominium loans. What's next?
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FHFA: Extensive ‘Testing’ Underway at Common Securitization Platform

November 18, 2014
Charles Wisniowski
In 2015, the team at the GSE common securitization platform will focus on implementation of the remaining software components...
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Short Takes: Obama Won’t Give Up on Killing the GSEs / Redwood Sells Debt / More Ocwen Customer Complaints / Carrington Bolts ARMs / The Return of Mike Baldwin

November 18, 2014
Brandon Ivey and Paul Muolo
Republicans have never been big fans of the GSEs and there’s plenty of Democrats who aren’t so sure about the government “guaranty” as well...
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Lower FHA Premiums? Dream On…

November 18, 2014
Paul Muolo
In a statement, Rep. Hensarling decried last year’s $1.7 billion “taxpayer-funded bailout” of the FHA.
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FHFA’s Watt Testifies Before Senate Panel This Week; FHLB Membership a Key Topic?

November 17, 2014
Charles Wisniowski
The senate panel is expected to ask questions on guaranty fees and the common securitization platform as well.
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Short Takes: Former FHFA Chief Blasts Mortgage Industry / Who’s Behind the HIC? / More Relief From FHA / Ocwen’s Stock Recovers Slightly / Venable Hires Ex-Hensarling Staffer

November 17, 2014
Paul Muolo and Charles Wisniowski
So, which groups are behind the "housing-industrial complex"? DeMarco isn't naming names...
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FHA’s Mutual Mortgage Insurance Fund in the Black by $4.8 Billion

November 17, 2014
George Brooks
The FHA’s annual independent actuarial review of the MMIF showed a capital reserve of 0.41 percent at Sept. 30, 2014.
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SFIG Releases Second Round of Consensus Standards Aimed at Restoring Confidence in Non-Agency RMBS

November 14, 2014
As part of its RMBS 3.0 initiative, the Structured Finance Industry Group this week released the second installment of its recommended best practices for the non-agency MBS market. New and revised material was released for each of the three major “work streams” in the project, which broadly cover: representation-and-warranty issues and repurchases; due diligence, data and disclosure; and the roles of transaction parties and bondholder communications. The 54 new pages released this week bring the cumulative work to about 125 pages, including appendices. In the reps-and-warranties section, new provisions cover...
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