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Inside the CFPB
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Short Takes: Investors Unite is Not Happy / Are the GSEs ‘Zombie’ Like? / Non-QM Lender Verus Hikes Loan Cap to $5 Million / LoanSnap Raises More Capital / A New Hire for Servicing Advisor MorVest

July 19, 2018
Brandon Ivey and Paul Muolo
Of course, there are some in the industry who will argue Fannie and Freddie are hardly zombie-like at all...
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Lenders Look to CFPB for Flexibility on Setting LO Comp while Trying to Reduce Production Expenses

July 19, 2018
The Consumer Financial Protection Bureau should adjust loan originator compensation rules to provide lenders with some flexibility, according to mortgage industry participants.
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Kraninger Nomination to CFPB Post Mired in Partisan Dispute Over Document Request, Timing of Hearing

July 19, 2018
Republican and Democrat leaders of the Senate Banking, Housing and Urban Affairs Committee battled over minority requests for extensive documents about Kathy Kraninger, the Trump administration’s nominee to become the next director of the Consumer Financial Protection Bureau.
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DOJ Repeals Guidance on Mortgage Shopping. Fair Lending Groups Not Happy…

July 18, 2018
George Brooks
Attorney General Jeff Sessions: “When issuing regulations, federal agencies must abide by constitutional principles and follow the rules set forth by the Congress and the President.”
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CFPB to Shrink Advisory Group Memberships, Cut Costs by More Than Half

July 18, 2018
Yemeng Yang
The budget for the three advisory groups will be limited to $150,000 each per year.
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Short Takes: Maybe Fannie and Freddie were Solvent After All / Something to Think About? / Angel Oak is Busy, Very Busy and Needs Qualified Workers / New Hires / A Strong 2Q for MGIC

July 18, 2018
Paul Muolo
The judges opined: "Indeed, the GSEs lost more in 2008 ($108 billion) than they had earned in the previous thirty-seven years combined ($95 billion). Yet the GSEs remained solvent.”
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Court Rules FHFA’s Structure Violates the Constitution. But Upholds Treasury Sweep

July 17, 2018
Carisa Chappell
The court said Congress encased the regulator in layers of insulation, which limits the president’s power to remove and replace the FHFA director...
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Still Festering: the VA IRRRL ‘Orphan’ Loan Mess

July 17, 2018
Paul Muolo
“We want to get more bidders involved,” said MBA’s Pete Mills…
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Short Takes: The Slow Fade of Banks Continues / False Claims Act Relief on the Way? / A Bank Advertising Mortgages on National TV / The Next Move for Bob Ryan of the FHFA? / Fannie Elects a New Director with a Blockchain Background

July 17, 2018
Paul Muolo
Most of the ads we see tend to come from nonbanks such as Quicken, loanDepot and CashCall…
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Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction

July 16, 2018
John Bancroft, Brandon Ivey, and Paul Muolo
Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...
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