Among the myriad of servicing concerns raised by the New York Department of Financial Services in recent months are the relationships between nonbank special servicers and their affiliates. Industry lawyers suggest that few laws specifically address the issue, though the area could see increased regulation and enforcement. In April, Ben Lawsky, superintendent of the NYDFS, expanded his probe of Ocwen Financial to include sales of real estate owned properties ...

The Treasury Department issued a wide-ranging request for comments last week as part of an effort to increase issuance of non-agency mortgage-backed securities. Treasury officials said they are working toward developing standards and practices for the non-agency MBS market. “The private-label securities market has been dormant since the financial crisis,” said Treasury Secretary Jacob Lew. “The fact is, we need to attract more private capital to the housing market ...

One MI CEO, who we called, said this: “Thanks for reaching out. We, along with the other MIs are currently in confidential discussions with FHFA and the GSEs regarding the new standards. Unfortunately, we cannot comment until they are public.”

A tax "extender" for mortgage insurance would help an already-healthy MI industry.

Nonbank capital rules from the FHFA will add certainty to the MSR market, but there will plenty of indigestion along the way.

It should be noted that after the FHFA IG report was released, the share value of Nationstar, Ocwen and Walter all suffered in trading...

The Consumer Financial Protection Bureau is picking up where HUD left off, and then some, said one senior attorney.

Oh, the irony: tough compliance regulations drive up the cost of renovating the HQ of the Consumer Financial Protection Bureau.

NAMB estimates that during the same year brokers nationwide rebated upwards of $2 billion to consumers at the closing table.

For such assignees, the bureau would select one of the following alternative periods for the right to cure: 270 days after loan delivery, or 120 days after such assignee’s discovery of non-compliance.