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Lenders Face Uncertainty After Supreme Court Refuses Case

December 7, 2018
Brandon Ivey
Bank of America, the nation’s fourth largest mortgage servicer, appealed the case to the Supreme Court…
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What We’re Hearing: Mark Calabria to Head the FHFA (Looks That Way) / Can Mulvaney Fix the U.S. Debt Problem? / Keeping the Debt Clock at the HFSC? / Kraninger Yes, Michael Bright No / Nomura and Ditech (More) / CMG Mortgage Hires Regency Executive / Home

December 7, 2018
Paul Muolo
If Michael Bright is not confirmed in the current Congress, President Trump will have to re-nominate him...
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Kathy Kraninger is About to Head the CFPB, but Who is She?

December 6, 2018
Yemeng Yang
Observers note that CFPB nominee Kraninger has no track record in financial services…
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Purchase-Loan Market Began Softening in 3Q but Experts Anticipate a Rebound

December 6, 2018
John Bancroft
Purchase loans accounted for over 80.0 percent of third-quarter production at Wells Fargo, PennyMac Financial, Caliber Home Loans, U.S. Bank and Amerihome…
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Its Share Pricing Sinking, Ocwen Issues Update, Says it Will Enter TPO Market, Acquire Servicing Rights

December 6, 2018
Paul Muolo
Ocwen, which paid $360 million in cash for PHH, also disclosed: “The purchase price we negotiated contemplated PHH could continue to incur losses.”
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‘Small’ Mortgage M&A Deals are Getting Done, but Larger Ones Remain Elusive

December 6, 2018
Small- to medium-sized residential lenders are finding a home in today’s merger-and-acquisition market, but larger transactions are facing long odds with private equity investors sitting on the side-lines. At least that’s the view this week from a handful of advisors interviewed by Inside Mortgage Finance.
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Senate Expected to Confirm Kraninger for CFPB Post as Market Tries to Anticipate Her Priorities

December 6, 2018
Even as the Senate is expected to confirm her as director of the Consumer Financial Protection Bureau either this week or early next week, Kathy Kraninger remains largely a mystery to many CFPB observers.
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CFPB Accuses Nevada Nonbank of Misleading Vets on IRRRLs in San Antonio

December 6, 2018
Paul Muolo
The government charges, the “apples to apples” comparisons on refis shown to prospective customers by Village Capital’s LOs were flawed and had “inaccurate” results.
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Short Takes: Stock Market Ugly / Bring on the Cash-out Refis? / GSE Stocks Can’t Catch a Break / Carrington Readies First Non-QM MBS / New Penn Unveils New Name: NewRez

December 6, 2018
Brandon Ivey and Paul Muolo
Carrington Mortgage is working on its first non-QM securitization...
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The Mortgage M&A Tsunami May be Late This Time Around

December 5, 2018
Paul Muolo
In past downturns, large lenders and servicers were either sold outright or they joined forces with like-sized companies…
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