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FHFA IG Among Growing List of Financial Regulators with Armed Agents

October 23, 2014
Charles Wisniowski
According to the most recently available data, 33 IG offices had roughly 3,500 agents authorized to carry firearms.
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Short Takes: A ‘Troubling’ Corporate Culture at Ocwen? / IMA Launches Crowd-Funding Unit / Massachusetts Loses Foreclosure Battle with GSEs / Reverse Stock Split for Mortgage REIT

October 23, 2014
Paul Muolo and Charles Wisniowski
Interactive Mortgage Advisors has launched RealPartner.com, a crowd funding platform giving accredited investors access to performing residential mortgages...
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FHFA’s Watt Promises a CSP CEO Will be Named by Year-end

October 22, 2014
Paul Muolo
One former CEO candidate told IMFnews that back when he was approached about the job, the starting salary for the position was at least $400,000.
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Short Takes: Who Might Guaranteed Rate Buy? / RPM Eyes Two More Lenders / A Non-QM IPO Already? Really? / Fitch Upgrades Shellpoint on Servicing / New Appraisal Tool From Fannie Mae / More Trouble for Nonbanks and MSRs?

October 22, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
We even heard one report that a non-QM firm is contemplating an initial public offering. It sounds crazy, we know…Meanwhile, it appears the states want a say in MSR transfers...
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Short Takes: MBA Shows the Love for FHFA’s Mel Watt / Looser Mortgage Credit? Are You Crazy? / The CFPB ‘ePilot’ Moves Closer / The Fear of Running Out of Money / Are You Afraid of Ghosts?

October 21, 2014
Paul Muolo and Thomas Ressler
After all, didn’t America suffer a housing “depression” because credit was too loose? Some GOP conservatives in Congress live by the edict: those who can own; those who can’t rent…
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Short Takes: Will FHFA’s Mel Watt Deliver the Goods? / Actually, Fannie is Buying 97 Percent LTV Loans, But… / IBM Gets Whacked / First Republic’s GOS / Quicken CEO Sworn in at MBA Show

October 20, 2014
Paul Muolo
What does IBM have to do with the mortgage business? Actually quite a bit, IBM is one of Fannie Mae’s largest technology vendors...
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Judge Won't Give Former Fannie CFO Access to Documents in Hedge Fund Case

October 17, 2014
Charles Wisniowski
Government attorneys sought to block Howard’s access on the grounds that he owns Fannie shares and would be biased.
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What We’re Hearing: MBA Turns a ‘Profit’ Again / About that MBA Office Building / The State of the Mortgage Union / The Era of Non-QM Starts Right Now / No Clarity From Wingspan / Ellie Mae’s Sky High P/E Ratio / Yet Another Departure From Nationstar Mort

October 17, 2014
Paul Muolo
Bill Dallas, who runs Skyline Lending, told us he believes the “new” non-agency movement is beginning right now. “Today, we‘re doing 90 percent agency,” he said. “In 2017 the ratio will be 60 percent agency.”
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FHFA-IG Among Growing List of Agencies Employing Armed Agents

October 17, 2014
The Inspector General of the Federal Housing Finance Agency is among a growing list of official government watchdog agencies authorized to employ armed investigators when ferreting out waste, fraud and abuse, according to a recent report. The report issued by the Congressional Research Service listed some three dozen IGs that possess law enforcement authority, which legally empowers them to make arrests, seek warrants and carry firearms.
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Lender: CFPB Appraisal Rule Costing His Shop an Extra $50K a Month

October 16, 2014
Thomas Ressler
Timothy Zimmerman, president and CEO of Standard Bank, said he’s bothered by too small a percentage of lenders making loans outside the QM parameters.
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