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Fannie Mae’s New Appraisal Product Causing Anxiety

January 20, 2015
George Brooks
Fannie's "Collateral Underwriter" will provide up to 20 comparables and appraisers will have to defend the comps they use...
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FHFA PMIER Rule Could be Accompanied by LLPA Announcement

January 20, 2015
Paul Muolo
“It’s hard to believe the FHFA will release the PMIER rules without doing something on LLPAs,” said one official.
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After Stepping Down, Ocwen Founder Erbey Set to Reap at Least $1.2 Million in Cash

January 20, 2015
Paul Muolo
The separation agreement prohibits the mortgage industry veteran from competing with Ocwen for at least 24 months.
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Short Takes: No Minimum FICOs for this FHA Lender / More Mortgage Gifts from President Obama? / Warehouse Mentioned in Earnings from Republic / DocMagic Expecting a Busy Year / Altisource Adds Vella

January 20, 2015
Paul Muolo
Assisting DocMagic with its work on RESPA-TILA disclosures is Richard Horn, a former senior advisor at the Consumer Financial Protection Bureau...
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The Megabank Mortgage Roundup: 4Q Reveals Some Up, Some Down

January 19, 2015
John Bancroft
Two of the four, Chase and BofA, reported increased originations during the fourth quarter. At Chase, production was up 8.5 percent...
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Altisource Defends Ties to Ocwen, Cuts Staff; Stock Soars

January 16, 2015
Brandon Ivey
Altisource recently eliminated 800 employee positions and hundreds of contractors.
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Ocwen Full Steam Ahead on MBS Clean-up Calls and Ginnie Buyouts

January 16, 2015
Paul Muolo
A recent report from Barclays found that Ocwen is the servicer on $500 million worth of eligible deals where the collateral value is above 107.
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Lenders Preparing for a Refi Boom(let)? Looks That Way

January 16, 2015
Brandon Ivey
At press time, the yield on the 10-year Treasury was at 1.80 percent, the lowest level since May 2013.
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CFPB Looking for Legal Conflicts to Enter

January 16, 2015
Thomas Ressler
“The bureau welcomes and encourages suggestions of cases as candidates for amicus curiae participation,” said the letter, signed by Meredith Fuchs, general counsel of the CFPB.
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Moody’s Issues Approach for Rating Single-Family Rental Securities, Including Multi-Borrower Deals

January 16, 2015
More than a year after issuing ratings for the first-ever single-family rental securitization, Moody’s Investors Service has issued its finalized approach for rating such deals. The rating service is also prepared to rate multi-borrower SFR transactions, a type of deal that has yet to be issued. Moody’s analysis of SFR securitizations was previously based largely on the approach the rating service applies to large loan commercial MBS backed by multifamily housing. The new criteria from Moody’s include...
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