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.”

The FHLBs and Office of Finance must now be more specific and include descriptions of their outreach activities in regard to minorities and women.

Big banks in recent years likely focused their refinance efforts on loans in agency MBS that had been purchased by the Federal Reserve, according to a working paper by economists at the Fed. John Kandrac and Bernd Schlusche noted that agency MBS held by the Fed exhibit faster prepayment rates than MBS held by the rest of the market. While some analysts have pinned the prepayments on refi activities by nonbanks, the Fed economists said they found that Bank of America, Citigroup, JPMorgan Chase and Wells Fargo played a large role in the high prepayment rates for agency MBS purchased by the Fed. The economists noted...