Former ASF Members, Including Wells Fargo, Working on New Trade Group March 15, 2013 Brandon Ivey Several members that recently bolted from the American Securitization Forum are forming a new trade group.Read More
Vote Scheduled for Tuesday on Nomination of Richard Cordray to Head the CFPB March 15, 2013 Thomas Ressler On Tuesday the Senate Banking Committee will hold a vote on the nomination of Richard Cordray to head the CFPB. Does this mean the GOP is warming up to him or is something else afoot?Read More
New Bill Bans G-Fee Hikes From Offsetting Government Spending March 14, 2013 Charles Wisniowski Proposed legislation would ban the use of guaranty-fees to pay for non-housing federal expenditures.Read More
Head of Retail for CitiMortgage Bolts for Nationstar Mortgage March 14, 2013 Paul Muolo A top production executive from CitiMortgage has departed the megabank for the pastures of Texas and Nationstar Mortgage.Read More
Short Takes: Freddie Still Owed $1.2 Billion From Lehman / Citi Buys NPLs from Wells / HLSS Buys Servicing Rights From Ocwen / Ross Joins Ocwen / MI Firms Fear the QRM March 14, 2013 Paul Muolo and George Brooks Freddie Mac is still owed $1.2 billion from Lehman Brothers, which went bust five years ago. Also, Wells Fargo sells NPLs to Citigroup.Read More
Agency Jumbo Volume Tops Record: Inside Mortgage Finance Tally March 14, 2013 John Bancroft Not only was the jumbo market on a roll last year but the GSEs were major players, according to new figures compiled by Inside Mortgage Finance.Read More
Points-and-Fees Legislation Would Supplant CFPB Definition March 14, 2013 Thomas Ressler Among other things, the bill removes from the calculation of fees and points Fannie Mae and Freddie Mac loan level price adjustments. Read More
Short Takes: A New FHFA Director to Be Unveiled Soon? / Nonbanks and Jumbos? / Rep. Ryan Plan to Kill the GSEs DOA / Apps Take A Tumble / Sen. Elizabeth Warren, Silent but Not for Long March 13, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski Will the White House soon unveil its FHFA director candidate? Read More
Meanwhile, Shellpoint May Issue a Jumbo Deal by Mid-Year March 13, 2013 Paul Muolo Activity in the jumbo MBS market is hopping.Shellpoint Partners is targeting mid-year for its first deal.Read More
GOP Campaign Against the CFPB Opens on a New Front March 13, 2013 Thomas Ressler The chairman of the House Banking Committee wants clarification from the Federal Reserve on the central bank's transfer of funds to the CFPB. Read More