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Inside the CFPB
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Attorneys: Proposal from Rep. Waters Underscores Potential Rise in Compliance Risk for Nonbanks

September 27, 2018
Nonbank mortgage servicers for the government-sponsored enterprises would face new regulations if Rep. Maxine Waters, D-CA, has her way.
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Issuance of Non-Agency MBS Constrained by a Lack of Reforms to Reps and Warranties

September 26, 2018
Brandon Ivey
Blackrock and PIMCO were among the firms cited as avoiding new non-agency MBS deals…
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CFPB Seeks Input on Data Collection Practices

September 26, 2018
Yemeng Yang
The new request for information, issued Tuesday, solicits comments on all aspects of data collection...
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First Up to Testify Thursday at the HFSC FHFA Oversight Hearing: Simone Grimes, Mel Watt’s Accuser

September 26, 2018
Carisa Chappell
Simone Grimes, who holds the title of special advisor, is still employed by the agency.
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Short Takes: Speculation on What Mel Watt Might Say / Ocwen Schedules a ‘Special’ Meeting of Shareholders / NOLs of Roughly $400 Million / In the Event of a Change of Control? / FoA Rolls Out Second-Lien Reverse

September 26, 2018
Paul Muolo
Ocwen said its ability to utilize the NOLs to offset future taxable income may be significantly limited if the company experiences an ownership change.
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Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot

September 24, 2018
Paul Muolo
ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.”
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MBA Backs User Fee to Fund Tech Upgrades for USDA Program

September 24, 2018
George Brooks
The FHA has proposed a similar user fee but has been denied repeatedly by Congress…
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State AGs Will Fill the Void if CFPB Punts on Disparate-Impact Use

September 24, 2018
Yemeng Yang
CFPB chief Mick Mulvaney said the bureau is “no longer allowed” to make any rules about disparate impact under ECOA…
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Risk-Retention Rules Might Not Apply to Some Commercial MBS After Court Ruling on CLOs

September 21, 2018
A court ruling in February which determined that risk-retention requirements don’t apply to certain collateralized loan obligations could have opened a way to avoid risk retention in the commercial MBS market, according to an industry lawyer.
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Ginnie Mae Assures Acceptance of VA ‘Orphan’ Loans Following Panel’s Passage of Corrective Legislation

September 21, 2018
Ginnie Mae said it would accept “orphaned” VA loans for delivery into Ginnie MBS as long as the mortgage meets the terms of the law.
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