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CFPB Says Agency Enforcement Lawyers Will Stay at Home on Mortgage Exams

October 10, 2013
Thomas Ressler
Over the past year, some lenders have complained privately about the presence of enforcement attorneys during examinations, telling Inside Mortgage Finance that it can be intimidating to staff.
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Mortgage Insurers Offer to Accept FHA Paperwork to Help Lenders During U.S. Shutdown

October 10, 2013
George Brooks
With most of FHA's staff on furlough, the private mortgage insurance sector sees an opportunity to gain business.
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Caliber Winning Bidder on $12 Billion in MSRs? MountainView Offers $2.5 Billion

October 10, 2013
Paul Muolo
A company owned by Lone Star appears to have won the bid on Flagstar MSRs. Meanwhile, MountainView hits the market with a new deal.
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House Members Tell FHFA: Defer to Us on Fannie/Freddie Loan Limits

October 10, 2013
Paul Muolo
Members of the House believe FHFA does not have the legal authority under HERA to reduce GSE loan limits.
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Short Takes: Mortgage Profitability Will Take it on the Chin? / Auction.com Stays Busy / Multifamily Volumes Rock / Low Interest Rates Forever? / CFPB Will Take Your Questions Now

October 10, 2013
Paul Muolo and Thomas Ressler
It's not looking pretty for gain-on-sale margins this quarter. However, interest rates will remain low.
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MBA Scores Another Court Victory in Mortgage Loan Officer Overtime Case, New DOL Rulemaking Likely

October 10, 2013
The Mortgage Bankers Association last week won affirmation of its July victory over the Department of Labor in the trade group’s appeal of a government policy that declared mortgage loan officers did not qualify under the administrative exemption to overtime pay. On Oct. 2, the U.S. Court of Appeals for the District of Columbia refused to grant a full-court review of its decision exactly three months earlier that sided with the MBA on how the DOL imposed overtime compensation requirements under the Fair Labor Standards Act. The MBA filed...
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FHLBs Want a Seat at the Table on Housing Finance Reform

October 9, 2013
Charles Wisniowski
Among other things, the Federal Home Loan Banks want to maintain their ability to securitize residential mortgages for their members.
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Jumbo MBS Investors Seek Standardization, Voice Concerns on New Bonds

October 9, 2013
Brandon Ivey
While standardization was the focus of jumbo investors, perhaps the bigger concern for participants is that most investors said they were looking to buy almost anything other than new jumbo MBS.
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Carrington, Citigroup, Kondaur Likely Bidders on HUD NPL Loans

October 9, 2013
Paul Muolo
The auction is being held on the government’s behalf by DebtX. In total, 29,000 nonperforming loans will be offered for sale.
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FHA Official: No Quality Control is Happening on New Government Loans

October 9, 2013
Paul Muolo
Meanwhile, smaller mortgage lenders that do not have delegated underwriting authority are reporting delays on getting loans closed.
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