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GSEs Take Next Step to Reduce Buyback Risk, Set Three Categories of Defects

October 8, 2015
John Bancroft
The new remedies framework includes more transparency about the factors a GSE will weigh in determining whether a defect is significant.
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PHH Taps Guild Mortgage Executive for JV; Realogy to Raise $1.15 Billion

October 8, 2015
Paul Muolo
Meanwhile, PHH's partner, Realogy, this week said it intends to raise $1.15 billion through the sale of senior notes.
Read More

Short Takes: CFPB Issues Guidance on MSAs / Yes, the Agency Mentions ‘Kickbacks’ / Sen. Corker, Stock Picker, Says ‘Short’ Fannie and Freddie / He was Being Sarcastic! Lighten Up, IU!

October 8, 2015
Paul Muolo
Fear and loathing over marketing service agreements heats up. Kickbacks?
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More HMDA Takeaways: FHA Accounts for Most of the Higher-Priced Mortgages

October 7, 2015
George Brooks
Roughly 45 percent of FHA-insured, first-lien purchase mortgages had annual percentage rates in excess of the reporting threshold...
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Former CFPB Official Urges Agency to Adjust Non-Agency QM Standards

October 7, 2015
Brandon Ivey
The former CFPB official said non-W-2 borrowers – like the self-employed, retirees and people with seasonal income – account for 30 to 40 percent of applicants for jumbo mortgages...
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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.
Read More
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