‘Defect’ Rate on FHA Mortgages Rises; A Reading of 50 Percent October 12, 2016 George Brooks Of the top five mitigated findings, two were related to borrower assets, two were about documentation and one about borrower credit.Read More
In Wake of Favorable Court Ruling, PHH Share Price Tepid October 12, 2016 Paul Muolo Is Caliber Home Loans still looking at some of PHH’s mortgage assets? Read More
Short Takes: An Investigation Into LPMI Pricing? / Wells Mortgage Chief Advances / Analyst Lukewarm on Flagstar / Navy Fed Sanctioned by CFPB on Collection Practices October 12, 2016 George Brooks and Paul Muolo Wells Fargo’s mortgage chief Franklin Codel is getting some new duties...Read More
Industry Groups Oppose CFPB Proposal to Add Survey to Consumer Complaint Database October 12, 2016 Thomas Ressler Under the proposal, consumers can rate a company’s response on a scale from one to five…Read More
‘High Pressure’ Wells Fargo Put on Retail Bankers Wasn’t Evident in Mortgage Unit October 11, 2016 Paul Muolo A four-year veteran of the bank in California, this mortgage loan officer said he never felt any type of pressure to cross sell other Wells products either.Read More
IG Audit: Ginnie Mae Left Hundreds of Uninsured Loans in MBS Pools October 11, 2016 George Brooks Ginnie Mae requires that all loans in its MBS pools have federal insurance or a federal guarantee. Read More
A Big Win for PHH: Court of Appeals Vacates $109M CFPB Fine in RESPA Case. Judge Questions CFPB’s Unchecked Power October 11, 2016 Paul Muolo The judge in the case suggests that the CFPB director has more unchecked power than anyone in government with the exception of President Obama.Read More
Short Takes: Investors Shrug at PHH Court Victory? / Life Will Go on at the CFPB… / Compass Point Says ‘Sell’ JPM / FBR Drops Coverage on USB, Three Others / New Hire for Starkey Mortgage October 11, 2016 Paul Muolo No huge gains for PHH's share price...Read More
Court of Appeals Rules CFPB is ‘Unconstitutionally Structured.’ But Agency’s ‘Ongoing Operations’ Will Not be Affected October 11, 2016 Paul Muolo CFPB critics may want to hold off on doing any celebrating...Read More
In Crafting the Deal Agent Concept for Non-Agency MBS, Investors Looked to the GSEs October 10, 2016 Brandon Ivey Clayton Holdings is one firm that’s interested in providing deal-agent services to the industry…Read More
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