State regulators are seeking comments regarding a number of potential changes to the Nationwide Multistate Licensing System and Registry licensing forms and the mortgage call report. Among other issues, state regulators are working to continue state adoption of the MCR as the sole activity reporting requirement for state-regulated lenders. About 14,500 companies fill out the MCR each quarter, detailing originations and other metrics. The State Regulatory Registry, which operates nationwide systems for state regulators, said compliance with the MCR remains a concern. “Compliance has steadily improved...

In a recent 10-K filing Ocwen disclosed that on April 30, 2015 it announced agreements with the GSEs to sell portfolios of non-performing loan servicing rights.

Watt said GSE pay should be brought more in line with comparable private sector jobs, but no higher than what CEOs in the 25th percentile of the market make, which is roughly $7.26 million a year.

Also, the mortgage cannot have been acquired through securitization, nor can it have certain verboten features.

To date, CSS has yet to perform a beta test and has a “black budget” whose details are only known to Fannie, Freddie and their regulator.

A CFPB lending exam can take up to six months to complete and can be quite expensive over time...

Plenty of attendees at NAR were steamed that after CFPB Director Richard Cordray made his remarks about TRID that he left the meeting without taking a single question from the audience.

Last fall, Ocwen tried to sell its Ginnie Mae servicing rights, but recently disclosed that it will keep the receivables instead...

As the TRID deadline moves closer, industry anxieties are getting stronger and more specific in nature.

Stevens also said that while he was FHA commissioner he chose not to go after lenders for violating the False Claims Act because he said such actions would have opened a “Pandora’s Box.”