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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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