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Inside the CFPB
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Not a Done Deal: Changing the Definition of ‘Past Due’ on Mortgages

January 5, 2018
Brandon Ivey
Regulators are set to announce that the past-due change is being delayed – and reconsidered…
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Short Takes: Senate GSE Bill Due Out This Month? / But Will it Pass? / The Unstoppable LendingTree / Mortgages and the Weed Trade? / Hamilton Hires Former Wells-JPM-Freddie Exec to be CEO

January 4, 2018
Paul Muolo
When Fannie and Freddie request a fresh draw of taxpayer funds from Treasury to deal with their DTA "problem," it will poison the well for conservative Republicans...
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CFPB, Other Federal Regulators to Provide a ‘Good- Faith’ Grace Period for Enforcing New HMDA Rules

January 4, 2018
Mortgage lenders pressing to get compliant with the new data collection and reporting require-ments under the Home Mortgage Disclosure Act got a bit of a reprieve, as the Consumer Financial Pro-tection Bureau and the other prudential regulators announced they would take “good-faith efforts” ap-proach to enforcement.
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In Year One of the Trump Administration, FHA Laid the Groundwork for Future Action on Several Regulatory Issues

January 4, 2018
FHA saw many of the policies under the previous administration shelved during the first year of the Trump administration, including a proposal for a 25 basis point reduction in the annual mortgage in-surance premium, while waiting for a new commissioner to head the program.
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FHA Nominee Montgomery Has to Resubmit Financials. A March Seating?

January 3, 2018
Paul Muolo
Like scores of other Trump appointees, a final vote on Montgomery’s nomination as assistant secretary for Housing was not acted upon by yearend…
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Notwithstanding Efforts to Resolve FCA Issue, Lenders Remain at Risk

January 3, 2018
George Brooks
Aggressive FCA enforcement and steep settlement amounts have caused some banks to exit from the FHA market.
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PHH Will Pay $45 Million to Settle State Servicing Allegations

January 3, 2018
Paul Muolo
PHH Mortgage is in the process of transforming into a subservicing specialist.
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Short Takes: Morgan Stanley and PHH? / Share Price? / Subservicing Rules the Roost / Embrace Hires Legal Affairs Chief / A Name Change for Mortgage Lending Services

January 3, 2018
Paul Muolo
At Sept. 30, 2017, PHH had a total servicing portfolio (including subservicing contracts) of $162.7 billion...
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No Court Ruling Yet in CFPB’s English v. Mulvaney

January 2, 2018
Thomas Ressler
Meanwhile, the U.S. Chamber of Commerce asked the court for permission to file an amicus brief supporting the DOJ…
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Short Takes: Pickup Picks Up the Pace on Impac Buys / Buy Low, if You Can Get It / Stolen GSE Money? / No Longer ‘Distressed’ / New AI Chief Starts his Term

January 2, 2018
Paul Muolo
Richard Pickup, a real estate investor by trade, owns more than 10 percent of Impac…
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