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Consumer Complaints Filed with the CFPB Fell by Double Digits in 3Q

October 14, 2014
Thomas Ressler
When it comes to individual lenders, most of the top 50 targets of consumer gripes generally either stay in the same ranking or move up or down one or two levels.
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Is Wells Fargo Losing its Origination Mojo?; 3Q Fundings Almost Flat

October 14, 2014
Paul Muolo
Compared to the same quarter a year ago, residential originations fell 40 percent at Wells. At JPM the downdraft was even worse...
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Walter Reveals Additional Scrutiny on its Servicing Practices; It Met With AGs

October 14, 2014
Paul Muolo
The $17 million reserve will be booked as part of Walter's third quarter earnings.
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Just One Nonbank Had a Jumbo Market Share North of 1 Percent

October 14, 2014
Brandon Ivey
Banks were the top nine jumbo lenders, led by Wells Fargo with $41.49 billion in originations, accounting for a healthy 15.8 percent of all jumbo lending.
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Short Takes: Walter Joins the ‘New Low’ Club / When Will the ‘Dark Days’ End for the Public Nonbanks? / ETA on Wingspan Announcement? / MBA Wants Faster Action on a Single Security / In MI We Trust

October 14, 2014
Paul Muolo and Charles Wisniowski
Specialty servicer Wingspan is expected to issue a press release this week, providing some clarity about a change of control at the company and the future of its founder...
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FHA Loan Reviews Continue to Find Defects

October 13, 2014
George Brooks
Given the wide gap between the initially unacceptable findings and the subsequent “refresh” results, some lenders may ask the FHA to discontinue its disclosure of initially unacceptable findings.
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A Sign of Hope for Regulatory Relief: CFPB Proposes Program for Lender ‘No-Action’ Letters

October 13, 2014
Brandon Ivey
However, the CFPB official said the no-action letters would not give a requesting entity an exemption from complying with any statutory or regulatory rules.
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MBA Wants to Reopen the Debate on Basel III Cap for MSRs; 50 Percent for Thrifts?

October 13, 2014
Paul Muolo
One forensic accountant said of the matter: “Basel basically treats MSRs as a toxic asset. It’s a huge topic.”
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Altisource Gets Huge Boost in Repo Line from Credit Suisse; EVP Resigns

October 13, 2014
Paul Muolo
Along with the news of a larger repo facility, some executive changes have occurred as well.
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Short Takes: Is Ocwen Under Valued? / Did Ross Sell Homeward at the Peak of the Market? / The Dream: A Reduction in FHA Premiums / Faye Servicing Gets Servicer Approvals / Mortgage Network Hires Former Countrywide Official

October 13, 2014
Paul Muolo
The Community Home Lenders Association has asked new HUD secretary Julian Castro for a “meaningful reduction” in the FHA’s annual premiums…
Read More
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