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Inside the CFPB
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A Week After Unveiling $300 Million Debt Offering, PennyMac Delays the Deal

May 24, 2016
Paul Muolo
According to figures compiled by Inside Mortgage Finance, PMFS is the nation’s sixth largest residential originator, and 11th largest servicer.
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Short Takes: The Industry Strikes Back / Breach of Contract, Not Fraud / A Wingspan Candidate? / BKFS: A 10-Year Low in Foreclosure Starts / PHH Home Hires Former Bank Executive

May 24, 2016
Paul Muolo
Bad news for specialty servicers: Black Knight Financial Services said 58,700 foreclosures were started during April, the lowest reading in 10 years...
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Comments Due Aug. 22 on CFPB Arbitration Proposal

May 24, 2016
Thomas Ressler
The publication of the proposal formally triggers the beginning of the official 90-day comment period. Comments to the CFPB are due by 11:59 p.m. Aug. 22, 2016.
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Ginnie SVP Drayne: Influx of Nonbanks Has Raised A Lot of Issues for the Agency

May 23, 2016
John Bancroft
“We also have to pay more attention to third-party financing and third-party document custodians that new issuers are relying on,” Drayne added.
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Single GSE Security, CSP Still on Target for 2-Stage Launch; The Cost Thus Far: $270 Million

May 23, 2016
John Bancroft
Although the CSS joint venture has a projected budget and multi-year budget plan, it is working with FHFA about when to release that information…
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CFPB Experts: Chances of Being Examined Rest in Complaint Portal, Data

May 23, 2016
Paul Muolo
Nonbanks primarily need to worry about being examined for lending, but the CFPB has its ears open to servicing complaints as well…
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Short Takes: So Much for the Quiet on TRID Complaints / Mortgage Lenders Lean Toward Trump? / The Last Squeezing of the HARP Grapes / Former Wells Exec Joins Fannie Mae Board

May 23, 2016
Paul Muolo
So, who will mortgage professionals vote for come the fall election? Trump or Clinton?
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Conservative Groups (Surprisingly) Join the Fannie/Freddie Recap Bandwagon

May 20, 2016
Carisa Chappell
The groups stress that the conservatorships were intended to be a short-term measure to keep the GSEs solvent…
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FHFA OIG Lays Claim to $3.5 Billion in Recoveries

May 20, 2016
Carisa Chappell
The OIG’s investigations also include matters tied to loan origination and short sale fraud and even REO…
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Chimera Sees Promise in Risk-Retention Requirements For Non-Agency MBS, Projects Returns in Double Digits

May 20, 2016
Risk-retention requirements included in the Dodd-Frank Act that met strong opposition from industry participants may turn out to be a profit source for some real estate investment trusts. Non-agency MBS have been subject to risk-retention requirements since the end of 2015, while the rules go into effect at the end of this year for commercial MBS and other asset classes. “I believe...
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