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Walter Gets $300 Million Increase in Financing from Barclays; Stock Spikes

September 20, 2017
Paul Muolo
News of the expanded repo line sent Walter's share price soaring...
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Short Takes: Did Wells Dodge a Bullet on its CFPB Fine? / A ‘Recommendation Memorandum’ / No Effect on Wells’ Mortgage Business / Subject the CFPB to Appropriations / Stearns Goes ‘Digital’

September 20, 2017
Paul Muolo, Thomas Ressler, and Brandon Ivey
Wells Fargo could have been subject to a whopping $10 billion fine...
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Houston Court Drives Final Nail into Allied’s Coffin, Imposes Total Damages of $293 Million

September 20, 2017
George Brooks
The case started back in 2011 as a “whistleblower” lawsuit filed in New York. Allied, a net branch operator, was based in Houston.
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House FSC to Work on GSE Reform Again. (Hint: It Looks like the PATH Act)

September 19, 2017
Brandon Ivey
At the ABS East show, Rep. Barr didn’t provide further details about Republican plans for the GSEs…
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New Poll: Industry Says Let Congress Fix the GSEs

September 19, 2017
Paul Muolo
Congress is not expected to produce workable GSE legislation until next year and even then, other issues – tax reform, another run at fixing “Obamacare,” for example – could kick the can down the road.
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Federal Court Sanctions the CFPB for Deposition Conduct

September 19, 2017
Thomas Ressler
When the depositions finally occurred, a CFPB witness used “memory aids” to deliver rote, sometimes unresponsive answers to questions.
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Short Takes: About Those GSE Dividend Payments… / The Man Wants to be Paid / Record Attendance at ABS East / LendingTree Buys Snap Capital / Webster Gets a New President

September 19, 2017
Paul Muolo and Brandon Ivey
In other words, the FHFA will once again order the dividends to be paid to Treasury. Right?
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A Growing Problem: VA ‘Rapid’ Refis

September 18, 2017
George Brooks
Acting Ginnie Mae President Michael Bright confirmed the resurgence of inappropriate streamline refinancing in securitization pools, promising a crackdown…
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CFPB Official Tells ABS East Attendees: Show Us Data on How Consumers Have Been Harmed

September 18, 2017
Brandon Ivey
“We want to know if there are impediments because of our rules,” said CFPB Policy Analyst Patrick Orr…
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Short Takes: MBA Wants a Change in HUD Reinspection Policies / Having an FHA Commissioner Might Help / Montgomery Resigns from Radian Board / DBRS Updates Due Diligence Criteria / A New Hire for Mortgage Network

September 18, 2017
Paul Muolo, George Brooks, and Brandon Ivey
The FHA nominee had been a Radian director since 2012…
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