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Another Bank Admits to FHA Underwriting Violations: Fifth Third

October 7, 2015
Paul Muolo
Like many banks that have had run-ins with the DOJ and HUD IG, Fifth Third's FHA volume has fallen dramatically.
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Is IBM Considering Its Options on Seterus?

October 7, 2015
Paul Muolo
In general, IBM has rarely talked to the media about Seterus and its contract with the government-sponsored enterprise, or much else, for that matter.
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Thanks to TRID Deadline, New Mortgage Applications Soared by 25 Percent (Really)

October 7, 2015
Paul Muolo
It appears that lenders were encouraging their loan officers to get applications in before the Oct. 3 implementation of the new RESPA-TILA integrated disclosure rule.
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Short Takes: Senators Don’t Expect GSE Reform Anytime Soon / Shooting Down the White House GSE Rumor / What’s With Stonegate’s Stock Price? / Sale or Bust?

October 7, 2015
Carisa Chappell and Paul Muolo
When the news broke about Stonegate this past summer, FBR issued a note to its clients saying that, “We expect the company has two options: hire a replacement CEO quickly, or sell the business altogether.”
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3Q Ginnie Mae Issuance Sets New Record; Purchase Volume the Key

October 6, 2015
John Bancroft
The flow of FHA purchase mortgages jumped 37.7 percent from the second to the third quarter, and VA purchase mortgages rose 37.9 percent over the same period.
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Does the CFPB Want to Kill All MSAs? Movement Mortgage Stays the Course

October 6, 2015
Paul Muolo
Movement's attorney declined to identify the lender's MSA partners, but said “no enforcement action” was taken against the privately held company, which was started in 2007 by former NFL player Casey Crawford.
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Ocwen Spin-off HLSS Settles Erbey-Related Allegations

October 6, 2015
Brandon Ivey
HLSS also misstated its net income in 2012, 2013 and the first quarter of 2014.
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IG: Thanks to the FHFA, Fannie and Freddie Have a Spending Problem

October 6, 2015
Carisa Chappell
In his rebuttal to the IG’s findings, FHFA acting deputy director of conservatorships, Bob Ryan, concurs with some of the IG’s recommendations but takes issue with other aspects of the report.
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IMA Selling $4.0 Billion of Ginnie Mae Servicing Rights

October 6, 2015
Paul Muolo
According to the offering circular, the collateral resides in all 50 states with Ohio having the highest chunk at a mere 8.1 percent.
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Short Takes: Vote on TRID ‘Safe Harbor’ Bill Set for Tuesday Night / More on the GSEs’ Spending Problem / More Headaches for New Residential / Good News for Cash-Out Refis, Seniors / Prudential Hires MF Manager

October 6, 2015
Brandon Ivey, Paul Muolo, and Thomas Ressler
Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.
Read More
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Latest Imf News

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Featured Data

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