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Inside the CFPB
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States Continue to Weigh Regulation of Mortgage Servicers

April 27, 2016
Brandon Ivey
State regulators have been particularly concerned about growth in recent years by nonbank servicers such as Ocwen Financial, the largest subprime servicer. Ocwen, of course, is now shrinking.
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Real Estate Agents Complain (Big Time) About the TRID Nightmare

April 27, 2016
Thomas Ressler
On the subject of delayed closings, one agent had this to say: “All of my closings are taking two to four weeks longer to close, and there has been a lot of confusion…”
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Short Takes: Trouble Ahead for Downpayment ‘Gift’ Programs? / CHLA Sends a Letter to Cordray, Wants a Fair Shake for Nonbanks / Why Sig Anderman of Ellie Mae is a Happy Man These Days

April 27, 2016
George Brooks and Paul Muolo
Sig Anderman’s once small firm is now worth more than Nationstar Mortgage, Ocwen Financial and Walter Investment Management Corp. combined.
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A Trickle of Jumbo Securitizations. Blame TRID?

April 26, 2016
Brandon Ivey
Pricing on the deal was good, but investor fears rule the day.
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Short Takes: When In Doubt, Bolt the FHA? / A Record ‘Tightness’ for Non-Agency? / Mortgage Banking is Only Good When Hot / Essent Gets LOC / Parkside Hires Former BofA Executive

April 26, 2016
Brandon Ivey and Paul Muolo
One industry consultant warns that when times are good, mortgage banking income can “turbocharge” earnings but...
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Borrowers Like New TRID Forms, Even with Delays

April 25, 2016
Thomas Ressler
While most borrowers felt positive about the new forms, 63 percent said their experience with TRID prevented them from closing on their new homes within the desired timeframe.
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Mortgage Warehouse Volume at Horizon Bancorp Declines in First Quarter, TRID Remains an Issue

April 25, 2016
Brandon Ivey
Craig Dwight, Horizon Bancorp’s chairman and CEO, indicated that the TRID mortgage disclosure rule had an impact on warehouse lending during the quarter.
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Short Takes: Delinquencies Decline / Comment Deadline for Controversial Survey / New STACR Deal / Assurant Fills in on Flood Insurance

April 25, 2016
Brandon Ivey and Thomas Ressler
The delinquency rate declined by 8.4 percent in March compared with February and was down 12.4 percent on an annual basis.
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GAO Questions CFPB’s Ability to Enforce Nonbank Servicers

April 22, 2016
Thomas Ressler
The GAO says the consumer regulator lacks comprehensive statistics due to external data constraints, and collecting this information is challenging...
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Another Week and More TRID Drama: Buyer Exits Correspondent Jumbo Space; Industry Gives Up Hope on ‘Official Guidance’

April 22, 2016
Paul Muolo
“Investors are taking the conservative approach,” said the Morrison & Foerster attorney. “No one wants to be the test case. They’re all worried about what a court might say.”
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