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First-Time Homebuyers Make Inroads. Can It Last?

February 24, 2016
Brandon Ivey
“We see a lot of multiple offers, especially for first-time buyer ranges,” said one real estate agent based in Washington State.
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CFPB Chief Cordray Takes a Swipe at ‘Naysaying’ Lawyers, Consultants

February 24, 2016
Thomas Ressler
“It is time to shrug off the naysaying consultants and lawyers who breed a culture of fear and hypothesized problems to hype their services,” Cordray added.
Read More

Fairholme Chief Claims There Were ‘Settlement Communications’ Between the Fund and Government Over the GSE Net Worth Sweep

February 24, 2016
Paul Muolo
Fairholme is feeling the heat from investors over poor performance, with Berkowitz noting the fund’s returns have “put us in the dog house.”
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Short Takes: The TRID Mess and Due Diligence Delays / What if Bruce Berkowitz’s GSE Bet Doesn’t Pay Off? / Closer to the Finish Line, Really? / An Ugly Future for Homeownership? / Google Quits Mortgages / New Hires for Flagstar

February 24, 2016
Paul Muolo
Meanwhile, Fairholme’s case against the government is still pending and Berkowitz said from a legal standpoint, “We’re getting closer to the finish line…”
Read More

Fannie Survey: Lenders Anxious About Increased Competition in 2016

February 24, 2016
Carisa Chappell
Roughly 88 percent of lenders plan to grow their origination business this year, and many – 67 percent – will either increase the number of retail branches or add loan officers.
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Warehouse Lines Just About Flat in 4Q, but Loans Staying on Lines Longer Because of TRID

February 23, 2016
Paul Muolo
Thanks to falling interest rates, some warehouse managers are starting to hear their telephones ring with requests for new credit.
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Nationstar to Issue Non-Agency MBS Backed by ‘Inactive’ Reverse Mortgages and REO

February 23, 2016
Brandon Ivey
This marks the fourth non-agency MBS from Nationstar backed by inactive HECMs...
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An Underused Tool? The False Claims Act as it Applies to GSE Loans

February 23, 2016
Carisa Chappell
Schilling cites a 2009 amendment to the DOJ’s FCA policy that expanded the boundaries of where it can be applied. He said now a claim can include a request for money made to a recipient of government funds.
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As ‘Captives’ Get the Boot, Traditional Insurance Firms Increase FHLB Membership

February 23, 2016
Carisa Chappell
Several groups of traditional insurance companies have substantially increased their borrowing capacity from the FHLB system as well.
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MBA Increases Residential Origination Forecast to $1.48 Trillion

February 23, 2016
Paul Muolo
Compared to an estimate released at its annual convention in October, the trade group's production forecast is up 12.3 percent.
Read More
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