Points-and-Fees Legislation Would Supplant CFPB Definition March 14, 2013 Thomas Ressler Among other things, the bill removes from the calculation of fees and points Fannie Mae and Freddie Mac loan level price adjustments. Read More
New Bill Bans G-Fee Hikes From Offsetting Government Spending March 14, 2013 Charles Wisniowski Proposed legislation would ban the use of guaranty-fees to pay for non-housing federal expenditures.Read More
Head of Retail for CitiMortgage Bolts for Nationstar Mortgage March 14, 2013 Paul Muolo A top production executive from CitiMortgage has departed the megabank for the pastures of Texas and Nationstar Mortgage.Read More
Short Takes: Freddie Still Owed $1.2 Billion From Lehman / Citi Buys NPLs from Wells / HLSS Buys Servicing Rights From Ocwen / Ross Joins Ocwen / MI Firms Fear the QRM March 14, 2013 George Brooks and Paul Muolo Freddie Mac is still owed $1.2 billion from Lehman Brothers, which went bust five years ago. Also, Wells Fargo sells NPLs to Citigroup.Read More
Redwood to Issue its Fourth Non-Agency Jumbo Deal of the Year March 13, 2013 Brandon Ivey Redwood Trust is coming to the jumbo well once again. Its new MBS is roughly $577 million in size.Read More
Meanwhile, Shellpoint May Issue a Jumbo Deal by Mid-Year March 13, 2013 Paul Muolo Activity in the jumbo MBS market is hopping.Shellpoint Partners is targeting mid-year for its first deal.Read More
GOP Campaign Against the CFPB Opens on a New Front March 13, 2013 Thomas Ressler The chairman of the House Banking Committee wants clarification from the Federal Reserve on the central bank's transfer of funds to the CFPB. Read More
HUD Union Challenges Sequestration, 9,000 Workers Would Lose Pay March 13, 2013 George Brooks Roughly 9,000 HUD/FHA workers could lose pay under federal sequestration. Read More
Bank of America Confirms Job Cuts in Its LandSafe Unit March 13, 2013 Paul Muolo A declining inventory of problem home mortgages and REO played a key role in Bank of America slashing the workforce of LandSafe by roughly 10 percent.Read More
Short Takes: A New FHFA Director to Be Unveiled Soon? / Nonbanks and Jumbos? / Rep. Ryan Plan to Kill the GSEs DOA / Apps Take A Tumble / Sen. Elizabeth Warren, Silent but Not for Long March 13, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski Will the White House soon unveil its FHFA director candidate? Read More