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Inside the CFPB
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Ginnie Scrutinizing ‘Changes of Control’ More Closely, Guidance on the Way

October 8, 2014
Paul Muolo
More clarity on the matter is expected later this month when Ginnie is set to release new guidance at the annual convention of the Mortgage Bankers Association.
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The ‘Brain Drain’ at the GSEs Will Continue. Here’s Why

October 7, 2014
Charles Wisniowski
Are Fannie Mae and Freddie Mac executives just wage slaves? And is there something wrong with that?
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Treasury Resisting Calls to Increase Scrutiny of HAMP Servicers

October 7, 2014
Brandon Ivey
The watchdog arm of Congress noted that the Treasury hasn’t implemented 6 out of 24 recommendations relating to housing programs funded by the Troubled Asset Relief Program.
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Short Takes: Student Lender Enters Jumbo Mortgage Space / How are Mortgage Lenders Feeling? Not So Good / Ralph Nader Unhappy with GSE Decision / Why is Johnson-Crapo Even on the Senate Legislative Calendar?

October 7, 2014
Brandon Ivey, Paul Muolo, and Charles Wisniowski
Quick question: What’s the difference between student loan debt and mortgage debt? One is impossible to extinguish by going through bankruptcy.
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Nonbank ‘Working Group’ Includes Ocwen, Probably Nationstar, but No Quicken

October 6, 2014
Paul Muolo
The initiative – which is being spearheaded by The Collingwood Group – comes at a time when the share prices of publicly traded mortgage companies have reached new lows.
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REITs, Others Get 60 Additional Days to Comment on FHLB Membership Rules

October 6, 2014
Charles Wisniowski
FHFA Director Mel Watt wants to ban companies from using their captive insurance affiliates from joining the FHLB system.
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Supreme Court Gets Another Crack at the ‘Disparate Impact’ Question

October 6, 2014
George Brooks
Two previous cases have raised similar issues tied to the legal theory of disparate impact.
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Short Takes: 3Q (Mortgage) Earnings Blues for the Megabanks? / Mr. Ackman, Would You Like to Restate That Prediction? / Rudy Orman Leaves RCS / A ‘Friends of Tony’ Mortgage? / Auction.com Selling Loans and MSRs

October 6, 2014
Paul Muolo
Back in May, Pershing Square founder William Ackman said the common stock of Fannie Mae and Freddie Mac could be worth at least $23 a share. Huh?
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Guess What? Credit Rating Shopping is Still Going On – Mostly in the CMBS Sector

October 3, 2014
Brandon Ivey
Calvin Wong of Morningstar noted that rating shopping is most obvious in the commercial MBS market
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SEC Urged to Do More to Reform Credit Rating Process, Shopping By Issuers Remains a Problem

October 3, 2014
“Rating shopping is alive and well,” Calvin Wong, chief credit officer at Morningstar Credit Ratings, said last week at the ABS East conference in Miami Beach. The Securities and Exchange Commission recently released a rule setting new requirements for the rating services, but Wong warned that the SEC hasn’t done enough to address the issue. He said...
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