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Time’s Up. The CFPB’s ‘Good Faith’ Period on TRID Compliance is Over!

June 17, 2016
Thomas Ressler
The days of “kinder” and “gentler” TRID enforcement are a thing of the past…
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Fannie Mae Unveils Three CIRT Deals, Largest Transactions To Date

June 17, 2016
Carisa Chappell
Although Fannie bragged about the size of the CIRT deal, it did not identify its counterparties.
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What We’re Hearing: Worrying About Nonbanks – Again / Banks and the GSEs: The Love Affair is Over / Keep it Under $5 Billion So the FHFA Won’t See It / GSE Discounts are Back? / Does the FHFA IG Have Enough To Do? / If You Give a Child a Credit Card…

June 17, 2016
Paul Muolo
Late this week we were hearing reports about one mortgage cooperative that was trying to strike a deal with one of the GSEs regarding pricing breaks for its members...
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Mortgage Debt Outstanding Hits $10 Trillion Mark for the First Time Since 2012

June 16, 2016
John Bancroft
The residential servicing market is a slow-changing glacier…
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CFPB Expected to Codify ‘Informal’ TRID Guidance

June 16, 2016
Thomas Ressler
The CFPB will take all of the content and commentary it has provided informally during webinars and at industry events, reconstituting it into some type of formal, definitive, and authoritative guidance.
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New Residential to Issue $400 Million ABS Backed by Servicing Advances; Ocwen Plays a Role

June 16, 2016
Brandon Ivey
The ABS allows the following mortgage firms to service the assets: Nationstar, New Residential, Select Portfolio Servicing, Specialized Loan Servicing and Walter Investment Management.
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FHFA Chief Rebuts IG Claim Regarding Not Controlling Costs on New Fannie Mae HQ

June 16, 2016
Paul Muolo
FHFA chief Mel Watt also points out that the sale of Fannie’s existing properties will result “in substantial additional financial benefits.”
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Short Takes: Hillary, Donald, Fannie and Freddie? / NAHB Prefers ‘Ranieri-Zandi’ Plan / Spend It. Otherwise Uncle Sam Gets That Money! / Fannie Eventually Will Make a Killing in RE / Former New Century Chief Lands at Carrington

June 16, 2016
Paul Muolo
Eventually, Fannie Mae will sell its historic HQ site at 3900 Wisconsin Avenue in Washington, DC, and making a killing on the sale...
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More Signs of Trouble for PHH Mortgage? Nonbank Cuts Early Funding Facility with Fannie Mae

June 16, 2016
Paul Muolo
In trading Thursday, the share price of PHH’s common stock was down almost 2.6 percent...
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JPM’s Jumbo Originations Performing Exceptionally Well, 60+ Delinquency Rate Below 1.0 Percent

June 15, 2016
Brandon Ivey
Performance in Chase’s jumbo program has remained strong even with the lender loosening underwriting standards somewhat...
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