The White House continues to search for someone to head the FHFA. But will it ever officially introduce a candidate? Mel Watt's name has come up again.
Loan officer compensation to individual originator employees is included in the calculation of the QMs 3 percent limit on points and fees but the industry believes this is double counting.
Standard & Poors this week deployed legal countermeasures against the federal government by asking a judge to dismiss a civil fraud lawsuit brought against the rating agency, slamming the litigation as an overreach. In February, the Justice Department filed a $5.0 billion lawsuit against S&P accusing it of knowingly inflating its ratings on residential MBS and collateralized debt obligations to boost its revenue and market share in the years leading up to the 2008 financial crisis. The filing in California federal court by S&Ps parent company, McGraw-Hill Co., says...
Consumer advocates also recommend that state policymakers pass legislation or implement regulation requiring servicers to adopt and engage in loss-mitigation practices.
The White House wants to change the HARP eligibility date, making more underwater borrowers eligible for the program, Inside Mortgage Finance has learned.