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Inside the CFPB
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Short Takes: Jamie Dimon Feels Their Pain / JPM Wants to Give Its Delinquent Servicing to the GSEs / About All Those Mortgage Regs… / A New HR Chief for Stonegate Mortgage

April 13, 2016
Paul Muolo
If Jamie Dimon really cares about the pain suffered by his customers, he may want to keep his default management servicing inhouse…
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CFPB Dispute With PHH May Not Resolve RESPA Enforcement

April 13, 2016
Thomas Ressler
Ultimately, whichever side loses, the case likely will be appealed to the U.S. Supreme Court...
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More TRID Trouble: Kroll May Not Rate Non-Agency MBS Subject to TRID (Until CFPB Issues Formal Guidance)

April 13, 2016
Brandon Ivey
To date, the CFPB has declined to issue formal guidance on assignee liability and TRID. Instead, the regulator has held several informational webinars on the rule.
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Residential Originations Down 9.3 Percent at JPM in 1Q16 as Megabank’s CEO Laments the Mortgage Business

April 13, 2016
Paul Muolo
Maybe one of these days JPM will exit mortgages entirely. But for now, Jamie Dimon is staying put...
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MBA Urges the CFPB to Move Slowly on HMDA Resubmission Guidelines; TRID Mess Cited

April 13, 2016
Thomas Ressler
Because of continuing problems in implementing the TRID integrated disclosure rule, lenders have not been able to focus on the new HMDA requirements...
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Four More Nonbanks May Fail Because of TRID?

April 12, 2016
Paul Muolo
As IMFnews reported recently: one nonbank lender had a $910,000 jumbo mortgage rejected by a secondary market buyer because of a $19 TRID-related mistake on the disclosure form.
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Much at Stake for Industry in PHH Legal Challenge; Is the CFPB ‘Constitutional’?

April 12, 2016
Thomas Ressler
Another disturbing wrinkle was CFPB Director Richard Cordray rejecting an administrative law judge’s proposed penalty of $6.4 million against PHH and instead jacking it up to $109.2 million...
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It’s Official: New Lower MIPs on FHA Multifamily Mortgages

April 12, 2016
George Brooks
Additionally, the annual MIP for affordable mixed-income properties has been lowered to 35 bps...
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Short Takes: Share Price of Fannie and Freddie Spikes. Here’s Why… / Does Bernie Sanders Know About This? / Salaries Revealed at Stonegate Mortgage / Silver Hill Rolls Out New Multifamily Loan / Foreclosure Fall – Again

April 12, 2016
Paul Muolo
Fannie's CFO McFarland made her disclosure around the same time the U.S. Treasury changed the terms of the GSE bailout...
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Wells Fargo Settles FHA Claims for $1.2 Billion; Who’s Next?

April 11, 2016
Paul Muolo
As recently as this past summer, there was talk in the industry that Wells Fargo might counter-sue the government...
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