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Inside the CFPB
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CFPB Removes Seller Points from Qualified Mortgage Test

September 18, 2013
Thomas Ressler
Charges paid by the seller for certain items are included in points and fees, such as a title insurance fee paid to an affiliate of a creditor.
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Short Takes: Nationstar Admits Funding Delays / Equity Loans Picks Up IFG Staff / RFC Closes Charlotte Operations Center / FHA Runs Out of Multifamily Money / Two New MSR Deals From MountainView

September 18, 2013
George Brooks and Paul Muolo
Brokers and others who do business with Nationstar Mortgage said they’ve been hearing stories about two-week delays on funds being delivered. Meanwhile, FHA has run out of multifamily money.
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OCC Revises Guidance on REO, Including Exchange of Participation Interests

September 17, 2013
Brandon Ivey
The Comptroller is warning against a bank engaging in an exchange of participation interests in REO without first consulting with the regulator.
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IFG of Pennsylvania Begins Cutting Staff, Firm Will Transition to New Platform

September 17, 2013
Paul Muolo
It appears that Integrated Financial Group of Pennsylvania is the latest victim of the mortgage downturn.
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Fannie Names Former Barclays Executive to Head Common Securitization Platform

September 17, 2013
Paul Muolo
Who better than a former Wall Street executive to manage Fannie Mae's role in the common securitization platform project?
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Essent Changes Mind, Decides to Go Public After All

September 17, 2013
Paul Muolo
First, National MI files to go public, now Essent. One might assume the mortgage insurance industry is red hot.
Read More

Short Takes: GSE Earnings Could Fade / Eminent Domain Moves Forward in California But… / Will PHH Sell Fleet Division? / Appraisers Getting Stiffed by AMCs / Large Lender has IT Snafu?

September 17, 2013
George Brooks and Paul Muolo
Fannie Mae and Freddie Mac will not earn a ton of money forever. Or will they?
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CFPB’s Finalized Mortgage Rules Reflect Industry Input

September 16, 2013
Thomas Ressler
Certain provisions of the loan originator compensation rule – such as those having to do with record retention, anti-steering and compliance and procedures – kick in January of 2014.
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Fannie Names Terry Edwards COO; He May Get Common Securitization Platform Oversight

September 16, 2013
Paul Muolo
Terry Edwards has received high marks for his accomplishments at Fannie Mae. But can he get the CSP off the ground?
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Short Takes: Wanted, East Coast Mortgage Banking Firm / Wells Continues to Offer ‘Cheap’ Jumbos / Where Does Yellen Sit on QE3? / Rising Rates, No Big Deal / Single-Family REO, a New Asset Class?

September 16, 2013
Paul Muolo and Thomas Ressler
Mortgages banking firms are still in demand, but pricing may fall. And at Wells Fargo, it's jumbo rates remain cheaper than GSE rates.
Read More
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