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Inside the CFPB
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FHFA Seeks Comment to Refine Its Planned National Survey of Mortgage Borrowers

May 7, 2013
Charles Wisniowski
The Federal Housing Finance Agency plans to survey residential borrowers about how they were treated by lenders.
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Servicer Advance Securitization is Growing but Concerns Persist

May 7, 2013
Brandon Ivey
The market for securities backed by servicer advances is red hot, but S&P says investors face risks.
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Short Takes: Industry Wants Lower GSE Loan Limits / FirstREX Will Take Equity in a Home / Cramer Likes Ellie / United Guaranty on a Roll / About that FHA Premium Promise…

May 7, 2013
George Brooks and Paul Muolo
The mortgage industry wants lower Fannie Mae/Freddie Mac/FHA loan limits. But will it happen?
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New York AG to File Lawsuits Against BofA, Wells for Servicing Issues

May 6, 2013
Brandon Ivey
Law enforcement officials say some of the nation's megabanks are violating terms of the historic national servicing settlement.
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MBA Pushes for Single GSE MBS With New G-Fee Structure

May 6, 2013
John Bancroft
The game is on: MBA wants a single GSE security and will lobby aggressively on the issue.
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Nationstar Launches $1.375 Billion Debt Offer, Mentions Suspension of Foreclosures

May 6, 2013
Paul Muolo
Business must be good for Nationstar Mortgage. The fast growing servicer is trying to pull off a huge debt swap.
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FHFA Limits GSEs to Only ‘Qualified Mortgages,’ So Long Interest-Only Loans

May 6, 2013
Charles Wisniowski
It's official: Come January of next year, Fannie Mae and Freddie Mac will only be able to purchase qualified mortgages.
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Steadfast Wants to Help Nonbanks Raise Capital / Stevens Seeks a Dialogue with FHFA on New Regs / BofA (Sort of) Comments on MSR Sale / Daurio Continues Hunt for Subprime Cash / GSE MF Worthless?

May 6, 2013
Paul Muolo and Charles Wisniowski
A new investment banking firm wants to help nonbanks raise capital.
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CFPB Subpoenas Auto Lenders; Dealers, Finance Firms Scramble

May 6, 2013
The CFPB has ratcheted up its scrutiny of the domestic auto finance industry, subpoenaing a number of U.S. auto lenders over the sale of extended warranties and other financial products, according to a report in the May 3 edition of the Wall Street Journal. Bureau officials said they would not comment on or confirm any potential subpoenas or requests for information. The CFPB interacts with the car-buying public and auto lenders in a variety of different ways. These can include educating consumers, examining and possibly...
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Bureau Releases Small Entity Compliance Guide on ECOA Rule

May 6, 2013
Late last week, the CFPB published a small entity compliance guide on its final rule implementing an amendment to the Equal Credit Opportunity Act that has to do with furnishing copies of appraisals and other written valuations to applicants for first-lien loans secured by a dwelling. The final rule, known as the ECOA Valuations Rule, was issued in January and becomes effective Jan. 18, 2014.The guide summarizes the new rule, but it is not a substitute for the rule, the document states. As the guide points out, the ECOA...
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