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Are Mortgage Company Sellers Holding Out For Too Much?

June 18, 2013
Paul Muolo
With rates rising and refis falling, will certain mortgage companies head for the exits? And if they do, will they get too greedy on the sale price?
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Compensation for FHLBank Directors Varies Widely

June 17, 2013
Charles Wisniowski
Compensation for directors at each of the 12 Federal Home Loan Banks increased in 2012, continuing a trend begun in 2011 where a director’s earnings “started to show a wide range across the FHLBanks for similar positions,” according to the Federal Housing Finance Agency.
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Ranieri Disappointed in Strength of the Non-Agency Market

June 17, 2013
Brandon Ivey
Lewis Ranieri, one of the inventors of the non-agency mortgage-backed security, said there are currently a lack of viable alternatives to agency mortgages.
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Supreme Court Accepts Mt. Holly Case on Disparate Impact

June 17, 2013
Thomas Ressler
The Supreme Court will hear weigh in on fair lending laws and disparate impact in the case of Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc.
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Former Analysts at Rating Services Blame Conflicts of Interest on Management

June 17, 2013
Brandon Ivey
Former rating analysts at two of the major rating services told the Securities and Exchange Commission that problems with the rating system are due to management at the rating services, not the analysts in charge of assigning ratings.
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Short Takes: SAFE Act Transition for LOs / Hearing on DFA and Homeownership / CFPB Regulatory Implementation Materials

June 17, 2013
Thomas Ressler and Brandon Ivey
Bipartisan legislation in the house to enact a transitional period for loan originators relating to the SAFE Act, a previous of a hearing on the Dodd-Frank Act's impact on homeownership by a subcommittee of the House Financial Services Committee, and regulatory implementation materials from the Consumer Financial Protection Bureau.
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Ocwen to Purchase Most of OneWest’s Mortgage Servicing Rights

June 14, 2013
Brandon Ivey
Ocwen Financial announced on Thursday that it will purchase the vast majority of OneWest Bank’s servicing portfolio. The special servicer is set to acquire $78 billion in unpaid principal balance of mortgage servicing rights and related servicing advance receivables for $2.53 billion.
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Short Takes: Blatant Housing Discrimination Falls/ Housing Growth Boosts Economy, says Fannie Economist/ GSE Shareholder Petition Drive Losing Steam/GOP Subcommittee Chair Plans CFPB Budget Hearing

June 14, 2013
Thomas Ressler, George Brooks, and Charles Wisniowski
Overt acts of housing discrimination may have declined significantly but subtle forms of racial bias continue against minority home purchasers or renters nationwide, according to a new study released by the Department of Housing and Urban Development and the Urban Institute.
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National Mortgage Database Builders: Borrower, Lender Privacy Paramount

June 14, 2013
Charles Wisniowski
The linchpin for a viable and comprehensive National Mortgage Database is to ensure that the identities of both mortgage borrowers and mortgage servicers from whom the statistical information is collected for analysis are protected behind a firm wall of security countermeasures, according to project architects.
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Home-Equity Market Performance Remains in Doldrums in Early 2013

June 14, 2013
John Bancroft
The amount of home-equity loans held by depository institutions continued to decline in early 2013, with little sign that banks, thrifts and credit unions are likely to ramp up their lending in the near future, according to a new Inside Mortgage Finance analysis and ranking.
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Latest Imf News

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