They called on policymakers to “embrace” nonbanks and address unintended regulatory impacts that are seen as driving banks out of portions of the mortgage market.

FCI’s clients include private money lenders, hedge funds, investment companies and others.

According to exclusive figures compiled by Inside Mortgage Finance, BofA is the second largest player in second liens at $139.1 billion in holdings.

A statement issued by MBA president David Stevens does not comment on the merits of the two cases but blames the CFPB for issuing LO comp rules that are not clear.

Though down from April, it was still significantly higher than at any time in 2014, when production averaged just $77.46 billion per month.

The Financial Industry Regulatory Authority started publishing pricing data for a broad range of ABS this week in an effort to increase transparency. Industry participants suggest that the new disclosures will prompt a decrease in trading and have some impact on pricing. The ABS pricing details are available through the Trade Reporting and Compliance Engine and include deals issued as 144A private placements. “The dissemination of transaction information in ABS is...

Industry analysts suggest that the rule will prompt a number of changes in the MBS and ABS markets.

Several well-known actors, including Henry Winkler, Robert Wagner and Fred Thompson, have appeared in such ads over the past few years, vouching for the products and their safety.

The FHA expects to finalize the proposed rule in August of this year, according to HUD’s new regulatory agenda, although the agency rarely comes close to its projected rulemaking timelines.

The CFPB case likely won’t make Merrill Lynch feel good about PHH, but we could be wrong. The two go way back…