CFPB Director Richard Cordray is still on the job, but did take a step toward throwing his hat into the ring for the race for the Ohio governor’s mansion, delivering remarks at the Labor Day Picnic of the Cincinnati AFL-CIO. Cordray, sounding like a political candidate, according to those in attendance, briefly extolled all the work the bureau has done on behalf of consumers, including the mortgage reforms that have forced so much change upon lenders. The director noted, “So far, our enforcement work has led to about $12 billion in relief to 30 million people who were cheated or mistreated, and who deserve to get things fixed and get their money back.” His remarks also harkened back to his ...

The CFPB’s final rule banning arbitration agreements, as well as pending rulemakings on payday and small-dollar lending and on debt collection practices, may live or die on the decision of Director Richard Cordray to exit his term before it expires in July. That prospect could be motivating him to linger in his current gig as opposed to resigning right now to enter the race for Ohio’s governorship, according to an analysis of the current lay of the land at the bureau from a former senior official at the agency. Former CFPB Assistant Director and Deputy General Counsel Quyen Truong, now a partner at Stroock & Stroock & Lavan in DC, noted that it is still unclear whether Republicans in the ...

On a combined basis, the three largest bank servicers reported a $45.06 billion reduction in their servicing for others.

George is presently the vice chairman of the Mortgage Bankers Association for the 2017 membership year.

As a result, they urge the GSEs to do away with the appraisal waiver program for now…

Black Knight estimates there are 1.18 million mortgaged properties in FEMA-designated disaster areas influenced by the hurricane...

The IMF, of course, has no jurisdiction whatsoever over Fannie Mae and Freddie Mac…

The U.S. Attorney for the Northern District of Texas indicted the former CEO of the Federal Home Loan Bank of Dallas, along with two other former bank employees, for fraud.

The agencies saw an 8.6 percent increase in refi volume from July to August, roughly triple the growth rate of the purchase-money business…

Although Fannie Mae, Freddie Mac and Ginnie Mae have all granted consumer forbearance on homes damaged by this season’s hurricanes, servicers must continue to make payments to MBS investors in most circumstances, a situation that could affect thinly capitalized nonbanks. In particular, smaller privately held nondepositories that became Ginnie issuers this decade could face some financial headwinds, depending on how heavily concentrated their business has been in the Texas Gulf region and south Florida. As Inside MBS & ABS went to press late this week, it was...