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Inside the CFPB
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Senate Moves Ahead with Kraninger’s CFPB Nomination

November 30, 2018
Yemeng Yang
President Trump nominated Kraninger in June…
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Lenders Decrease Premiums on Non-QMs

November 30, 2018
The spread between interest rates for qualified mortgages and similar non-QMs has narrowed somewhat this year. The lower premium placed on non-QMs suggests that lenders are getting more comfortable with the liability associated with the loans. The findings were detailed recently by two economists at the Federal Reserve who had access to loan-level data from Optimal Blue. The data comprised loan applications and mortgage locks from January 2013 through September 2018 ...
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What We’re Hearing: CNBC ‘Mad Money’ Host Cramer Slams Nonbanks / Questionable Research? / Dan Gilbert of Quicken Fires Back / The Counter-Hedge of Mortgage Servicing Rights / It’s LO Recruiting Season, Pull Out the Check Book / Prestwick MSR Auction / El

November 30, 2018
Paul Muolo
Did CNBC's Jim Cramer do any research on the mortgage industry before he opened his mouth?
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RHS Clarifies Short Sale Rules, REO Purchases by Nonprofits

November 30, 2018
The U.S. Department of Agriculture’s Rural Housing Service has issued guidance regarding short sales and sale of real estate-owned properties backed by rural housing loans.
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Around the Industry

November 30, 2018
Congress approves flood insurance extension, FHFA announces 2019 conforming loan limits, and the VA offers password-reset guidance for servicers.
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Former CFPB Deputy Director Raj Date Joins a Fintech Company

November 29, 2018
Yemeng Yang
At one time, Date headed Ethos Lending, a non-QM lending affiliate of Fenway.
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Short Takes: News Soon from Trump on the FHFA Job? / A Place-Holder / A Bright Spot, If You Can Find One / The Better Question Might Be: Who Isn’t Going Digital? / Upcoming: CFPB Advisory Board Meeting

November 29, 2018
Paul Muolo and Yemeng Yang
Joseph Otting would not be the permanent director but would be a place-holder until...
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Industry Has a Muted Reaction to High GSE Loan Limits. However…

November 28, 2018
Paul Muolo
Former MBA Chief Dave Stevens on the higher conforming loan limits: “For an industry led mostly by conservatives, this dependence on a socialized financial system is really ironic.”
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Newly Elected Democrat AGs Likely to Increase Enforcement

November 28, 2018
Yemeng Yang
“With the turmoil at the CFPB, states are feeling that they have to fill the void,” said Daniel Suvor, counsel at O’Melveny & Myers…
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Short Takes: Extreme Turbulence Ahead? / When Will the M&A Tsunami Start? / Freddie Mac’s Origination Forecast / A Sudden Spark in Fresno / Trump Has Buyer’s Remorse on Powell

November 28, 2018
Paul Muolo
One warehouse chief even suggested that in 1Q19, as many as 70 percent of nonbanks will lose money before the spring homebuying season kicks in.
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