As for details, a spokesman for the company said Ellie isn’t talking about the topic at this time. In an email exchange with IMFnews, mortgage technology consultant Tony Garritano of Progress in Lending called the whole episode “very bizarre”…
The bureau is expected to announce a pilot project to improve the mortgage closing process from A to Z for all stakeholders – not just consumers – an initiative likely to rely heavily on the industry’s technological capabilities.
In January, newly sworn-in FHFA Director Mel Watt officially delayed a GSE guaranty fee increase that had been scheduled by his predecessor Edward DeMarco.
The FHFA shortly will begin to collect additional, more specific and personal information on borrowers and loans as part of the National Mortgage Database project the agency launched with the Consumer Financial Protection Bureau.
Some stakeholders said they called the firm’s investor relations department about the latest probe and were told the firm would be saying more about the matter when it reports first quarter earnings.
ICYMI: Late last week, the Consumer Financial Protection Bureau released its guide to completing its integrated disclosure forms under the Real Estate Settlement Procedures Act and the Truth in Lending Act.
A New York state judge last week dismissed with prejudice a $567 million legal action brought by the Federal Housing Finance Agency against Deutsche Bank in 2012 over the bank’s refusal to repurchase hundreds of millions of residential mortgage-backed securities from Freddie Mac. Judge Eileen Bransten of New York’s State Supreme Court in Manhattan ruled the FHFA’s suit is barred by New York’s six-year statute of limitations.The FHFA sought to have the bank cover Freddie’s losses on defective MBS purchased from a $1.4 billion transaction.
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