Short Takes: The ‘Biggest’ Mortgage Stories of 2015? A Subject Ranking, for Sure / But Here’s the List: Strong Origination Volumes; TRID, Nonbanks, FHA Loan Volumes, No GSE Reform, Blackstone’s Mortgage Growth… December 31, 2015 Paul Muolo The biggest mortgage story of 2015? How about origination volumes being a lot better than anyone dreamed of?Read More
The Largest Investor in GSE Common (Pershing Square) Still Seems Bullish, but… December 30, 2015 Paul Muolo Over the past year, the share price of GSE common has tanked, at least on a percentage basis.Read More
CFPB Issues TRID ‘Clarifying’ Letter; GSEs Won’t Conduct ‘Routine’ Post Purchase Reviews December 30, 2015 Thomas Ressler The CFPB letter is aimed at preventing the secondary mortgage market from getting clogged up... Read More
SEC Faults Larger Rating Services for Issues Tied to Reviews on Non-Agency MBS December 30, 2015 Brandon Ivey The SEC recommends that the rating service in question establish and maintain effective internal controls and more… Read More
Short Takes: The loanDepot IPO Could Happen in 2016 / Just Because the CFPB Issues a Letter That Doesn’t Mean Some Lawyer Somewhere Won’t Sue / FA: Fraud Risk Rises in FL / Radian Becomes PMIER Compliant December 30, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo Now that the Consumer Financial Protection Bureau has issued a “clarifying” letter on TRID errors, all is well, right? Not necessarily...Read More
The Future of Mortgage Growth: It’s Mostly Non-White December 29, 2015 George Brooks “Erosion of homeownership for blacks threatens to undermine their ability to gain and maintain economic stability, not to mention build assets,” said UI’s Rolf Pendall.Read More
California CU Offering No Downpayment Option, Using a 80/20 ‘Piggyback’ Loan December 29, 2015 Brandon Ivey Borrowers are required to have a credit score of at least 700 and at least three months of reserves...Read More
CFPB Brings $3.1 Million Lawsuit Against Law Firm Over Debt Collection Practices December 29, 2015 Thomas Ressler No mortgage-related misconduct was alleged in the bureau’s latest action, but servicers shouldn’t take much comfort from the omission... Read More
California Remains the GSE Loan King December 29, 2015 Paul Muolo California also has the distinction of having one of the higher broker-GSE ratios in the nation: 21.5 percent. Read More
Short Takes: Home Prices Back to Pre-Bust Levels / Hot Growth for Denver, SF, Portland / A 10-Year HELOC / FHLB Cuts Warehouse Line / WJB Picks a New CIO December 29, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo It’s not every day that a Federal Home Loan Bank tells one of its members to reduce its credit facilities...Read More