Now comes the big question: Why is the president of the United States weighing in on a bank regulatory issue? Then again, it’s Donald Trump. Mortgage ramifications? Stay tuned…
Attorney Alan Kaplinsky said the new filing “may be an indicator of the enforcement philosophy of Mick Mulvaney… and how that philosophy may impact future CFPB enforcement activity.”
Acting Ginnie Mae President Michael Bright also issued a warning that expulsion from the program for “lenders who produce pools with inexplicably fast prepayment speeds” was a distinct possibility.
It's only a matter of time before the White House officially nominates acting Ginnie Mae president Michael Bright to be the permanent head of the agency...
The recent announcement that New Residential Investment Corp. will buy the New Penn mort-gage banking operation of Shellpoint Partners is fueling speculation that more publicly traded real es-tate investment trusts might dive into the business of residential lending.
Servicing income rose 1.5 percent during the third quarter, although five of the 12 companies reported declines and one of them – PHH Mortgage – posted a loss.