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Inside the CFPB
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OCC: Banks See Major Improvement in Residential Late Payments

March 28, 2013
Brandon Ivey
Is the tide turning on residential delinquencies suffered by banks or do the numbers look better because the group is selling legacy MSRs?
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Banks, Rating Agencies Fear Proposed Changes to Capital Requirements for MBS

March 28, 2013
Brandon Ivey
According to an analysis by Fitch Ratings, the overall charges for a simple jumbo non-agency MBS across all note-holders would increase to between 6.3 percent and 8.2 percent under the new proposal.
Read More

CFPB Goes Live With Expanded Complaint Database, New Legal Worries for Lenders?

March 28, 2013
Thomas Ressler
The launch of the revised CFPB database expands the bureau's consumer complaint apparatus in a major way. It includes a sub-category for many products, including mortgages.
Read More

Fannie Mae ‘Deferred Tax' Issue Could Be Resolved by the End of Next Week

March 28, 2013
Paul Muolo
Fannie Mae could have an answer to its 'deferred tax asset' issue by the end of next week, freeing up billions of dollars in money.
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Short Takes: Genworth Moves Closer to Delinking MI Unit / The Hottest Real Estate Markets, According to Veros / Wells Fargo Loses a Regional Production Rep / The Fastest Growing Servicers are Franklin American and Quicken

March 28, 2013
George Brooks and Paul Muolo
Genworth moves closer to delinking from its mortgage insurance unit. Meanwhile, Wells Fargo has suffered the loss of a well-regarded regional rep.
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OIG Dings FHFA for ‘Inadequate’ Oversight and Response to Servicer Complaints, Compliance Rules

March 28, 2013
Most Freddie Mac servicers are not complying with reporting requirements that seek to catch servicing fraud and regulatory violations, a mandate that falls under the Federal Housing Finance Agency’s Servicing Alignment Initiative, according to a new audit. The FHFA Inspector General separately slammed the regulator for failing to “thoroughly oversee” how the two government-sponsored enterprises monitor their seller/servicers’ compliance with contractual agreements.
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Credit Unions Want Relief from CFPB Rules

March 27, 2013
Thomas Ressler
The credit union industry has appealed to the U.S. Senate for relief on rules and regulations coming out of the CFPB.
Read More

Servicers Will Solicit Candidates Under New FHFA/GSE Modification Initiative

March 27, 2013
Paul Muolo
Severely delinquent Fannie Mae/Freddie Mac borrowers may get a shot at a streamlined refi under a new program unveiled Wednesday.
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Short Takes: MBA Hikes Origination Forecast, Applications Rise / Rep. Waters Applauds Move to Ban Incentive Payments on Force-Placed / Appraisal Complaints Continue / EverBank is How Large in Warehouse Lending?

March 27, 2013
Paul Muolo
Residential loan production for 2013 may turn out to be better than originally projected, thanks to a vastly improved purchase-money business.
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Short Takes: Are Loan Standards Really Loosening? / Two Harbors Looking Frothy? / Oil, Gas, and Servicing / Senate Banking Committee Chairman Retiring? / The Never Dying Story: Force-Placed Insurance

March 26, 2013
George Brooks, Paul Muolo, and Thomas Ressler
Urban legend: mortgage lenders are beginning to loosen loan standards. Well, maybe only for "rich" clients.
Read More
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