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Finance of America Will Pay $14.5 Million to Settle FHA Claims Tied to One of Its Acquisitions

December 13, 2018
George Brooks
The complaint further alleges that company executives have been aware of the poor EPD rates since 2011 but apparently did nothing to resolve the problem.
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Worries About FHFA Direction Persist, But It May Take A Year Before the Senate Clears Calabria as New Director

December 13, 2018
The White House this week finally made up its mind on a new regulator for the government-sponsored enterprises, picking conservative economist Mark Calabria to head the Federal Housing Finance Agency. Now comes the hard part: Getting the Senate to hold confirmation hearings and actually approve him.
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An Adverse Court Ruling in Closely Watched Case Could Increase Servicer Liability Under FDCPA

December 13, 2018
Mortgage servicers are waiting anxiously for a U.S. Supreme Court ruling on whether the Fair Debt Collection Practices Act applies to non-judicial foreclosures.
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Short Takes: Headed Into Receivership: Fannie and Freddie? / Politically Pragmatic / No Life in the Common / Coming Soon: A Platform Closure at Ocwen / A New 52-Week Low

December 13, 2018
Paul Muolo
Federal Financial Analytics calculates the trigger will be pulled by mid-2019.
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California Judge Tosses Class-Action Lawsuit Against Caliber Home Loans over Data Breach

December 13, 2018
A California court last month dismissed a borrower’s attempt to bring a class-action lawsuit against Caliber Home Loans over a security breach at the nonbank lender in early 2017.
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It’s Official: Trump Picks GSE Critic Mark Calabria to Head the FHFA

December 12, 2018
Paul Muolo
The nomination had been expected for several weeks now and paves the way – quite possibly –for limitations on GSE pilot programs, loan parameters and secondary market liquidity.
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Cost-Benefit Analysis Likely Focus of New CFPB Leadership

December 12, 2018
Yemeng Yang
The annual salary for the assistant director to head the office of cost-benefit analysis is between $200,595 and $247,500.
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New CFPB Chief Plans a Three-Month ‘Listening Tour’

December 12, 2018
Yemeng Yang
Kraninger on the recent name change of the agency: “I care more about what the agency does than what it is called…”
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Short Takes: loanDepot Loses its Product Chief / Bill Dallas and Cloudvirga / Kudos on the Calabria Pick from HFSC Chairman Hensarling / A Candidate Himself Once? / A New Hire for Vendor Valuation Partners

December 12, 2018
Paul Muolo
Cloudvirga, at one time, was headed by industry veteran Bill Dallas...
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One GSE Shareholder Speaks Up: Calabria Will be Constrained in His Mission to Dissolve Fannie and Freddie

December 11, 2018
Paul Muolo
James Fenkner says Calabria will be “constrained in his mission to dissolve Fannie and Freddie.”
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