A spokeswoman for the FHFA declined to provide any guidance on when a CEO or chairman might be named for the CSP. She noted: “The common securitization platform project is still in development,” adding that “We have neither final plans nor specific budgets at this time.”
The Department of Labor has asked the Supreme Court of the United States to review an appeals court ruling that put the kibosh on the agency’s policy that mortgage loan officers do not qualify under the administrative exemption to overtime pay. The legal question presented in Thomas E. Perez, Secretary of Labor, et al., petitioners, v. Mortgage Bankers Association, et al., is whether a federal agency must engage in notice-and-comment rulemaking before it can significantly alter an interpretation of an agency regulation. Last October, the U.S. Court of Appeals for the District of Columbia refused...
By itself, BofA accounted for 79.3 percent of the $606.3 billion shrinkage in commercial bank MSR portfolios during 2013. Where did all that servicing go to?
It may be temporary, but residential mortgage debt outstanding fell in the fourth quarter. For buyers of servicers that means less product is available (in theory).
The more detailed 'needs-to-improve' list includes Bank of America, CitiMortgage, Nationstar Mortgage, Ocwen Loan Servicing, Select Portfolio Servicing and Wells Fargo.
Well, at least GSE junior preferred shares are holding their own. Also, Five Oaks Investment is approving correspondents for its new jumbo flow-program...
One warehouse executive, requesting anonymity, said usage rates for the fourth quarter and the first two months of 2014 “have been very low.” He gave a range of 20 percent to 50 percent.
RSS