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Inside the CFPB
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A Bright Spot for Consumer Complaints: Mortgages; Yes, That’s Correct

January 14, 2015
Thomas Ressler
The positive performance, a drop of 14.5 percent, is most likely due to the continued recovery in the overall economy as well as the housing market.
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Short Takes: New Jumbo Deal from Two Harbors / Now for a Nice Word on Ocwen / Maybe Bill Erbey Will Buy…Nah… / What Will Altisource Say? / The 2015 GSE Scorecard is Out

January 14, 2015
Paul Muolo and Brandon Ivey
One servicing advisor raised an interesting scenario Tuesday: Maybe Bill Erbey will swoop in and buy all of Ocwen’s shares and take the whole thing private.
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California May Suspend Ocwen’s Mortgage License, Stock Plunges

January 13, 2015
Paul Muolo
Sources believe that Ocwen eventually will work out a settlement with the state.
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Ocwen’s Exit from Agency Servicing Could be a Very Long Goodbye

January 13, 2015
Paul Muolo
Meanwhile, new revelations about regulatory problems in California are likely to make Ocwen’s disposal of servicing rights problematic.
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When It Comes to Mortgage Shopping, It Appears That Consumers are Lazy

January 13, 2015
Thomas Ressler
The CFPB found that 70 percent of mortgage customers rely on their lender or broker to obtain loan pricing information.
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Strong Opposition to FHFA Proposals on FHLB Membership

January 13, 2015
Brandon Ivey
The Council of Federal Home Loan Banks said the FHFA has shown “no compelling need” for the proposed changes to membership standards.
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California Cites Document Request Delays at Ocwen, May Suspend the Lender/Servicer

January 13, 2015
Paul Muolo
For short sellers, Ocwen Financial is the gift that keeps on giving.
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Short Takes: JPM Touts Correspondent Channel / CFPB Chief Cordray Says the Sky Did Not Fall / What? / Supreme Court Deals Blow to RBS, Nomura

January 13, 2015
Paul Muolo and Thomas Ressler
Despite Cordray's proclamation, loan production fell by 35 percent last year, but all that was tied to refis plunging. Right?...
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FHA Sets Lower FHA Premium Date: January 26

January 12, 2015
George Brooks
FHA lenders may start requesting case number cancellations on Jan. 15, but must submit all requests before midnight on Feb. 26.
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Short Takes: Five Oaks Cuts New Repo Deal with BofA / Ocwen’s ‘Clean-up’ Calls / More Intel on Never Meeting the Customer / We Like Our Debt Just the Way It Is

January 12, 2015
Paul Muolo
“I only saw about 5 percent of my buyers face-to-face last year,” said one Texas-based loan officer.
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