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FHFA IG Steve Linick May be Departing for State Department Post

July 1, 2013
Charles Wisniowski
A former federal prosecutor, Linick is credited with creating the agency’s Office of Inspector General from the ground up.
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Short Takes: Fed Meets Tuesday, Fate of MSRs Hangs in the Balance? / Mortgage Investors Corp. Will Pay Record Fine to FTC / The Tea Party and GSE Reform / Mortgage Network Continues Expansion / MGIC Looking Up?

July 1, 2013
George Brooks and Paul Muolo
On Tuesday the Fed will hold an open meeting to discuss final rule-making tied to the Basel III accords, which affects the value of mortgage servicing rights.
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What We’re Hearing: Cerberus Buys a Mortgage Firm? / Fear and More Fear for Jumbo Issuers / Freedom Sizes its Broker Network at 2,500 Strong / Mortgage Insurers Raise $8 Billion in Capital / The Mel Watt Nomination Saga Continues

June 28, 2013
It appears that Cerberus is going down the mortgage aisle one more time. Let's hope it doesn't end like GMAC. Meanwhile, jumbo MBS market seizes up, temporarily.
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Rep. Mel Watt Promises an ‘Open and Transparent’ FHFA If Confirmed

June 27, 2013
Charles Wisniowski
Rep. Watt’s slightly more than two-pages of prepared testimony was long on biographical detail but lacking on mortgage-finance specifics.
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Short Takes: JPM Staffers Bolt for Freedom Mortgage / Affiliated Goes Wholesale / Is Art Ringwald Back in Mortgages? / OCC Says Loan Performance Continues to Improve

June 27, 2013
Paul Muolo
JPM is losing certain staffers to Freedom Mortgage. Meanwhile, is Art Ringwald contemplating a return to mortgage banking?
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Surprise: CFPB Proposes Changes to LO Definition and Tweaks Compensation Rule

June 25, 2013
Thomas Ressler
A mortgage employee who who merely states general information such as “we offer rates as low as 3% to qualified consumers” would not be considered a loan originator.
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Residential Loan Sales Dropped Slightly in 1Q13, Wells the Top Seller

June 24, 2013
John Bancroft
Depositories sold $396 billion of single-family mortgages into the secondary market in the first quarter, down 5 percent from the previous period.
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Supreme Court Agrees to Take on Canning v. NLRB, Case Rife with CFPB Implications

June 24, 2013
Thomas Ressler
There is a whole other level of supervisory and enforcement authority available to the bureau under a director approved with the consent of the Senate, mostly having to do with non-bank lending.
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What We’re Hearing: Panic in Mortgageland USA? / Refi Shops Go Down in Value / MSRs Stay Hot / Ocwen Cuts OneWest Workforce in Austin / Ocwen Selling Overpriced Appliance Insurance to Mortgagors? / Rep. Watt Nomination to Head FHFA on Shaky Ground

June 21, 2013
When rates spiked this week, margin calls to MBS investors increased. Lenders are nervous but next will will be the real test, mortgage executives told Inside Mortgage Finance.
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Rep. Watt FHFA Confirmation Hearing Set for June 27? Banking Committee Mum

June 20, 2013
Charles Wisniowski
There is still no official word on when the Senate Banking Committee will take up the nomination of Rep. Mel Watt to head the Federal Housing Finance Agency.
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