The suit was filed by Rodney Harrell, a Virginia homeowner, who obtained a residential mortgage from NYCB Mortgage. The right to service Harrell’s loan was transferred to Freedom, which in June 2017 bought some of NYCB’s MSR portfolio.

Meanwhile, KBW said it’s maintaining forward earnings estimates and $1 a share price target for both mortgage giants. Its overall rating is “underperform.”

Comptroller of the Currency Joseph Otting: “CRA mortgage lending should be to LMI people.”

In addition, the new rules would establish an allowable range for commercial space between 25% and 60%, which would make it less cumbersome for mixed-use communities to obtain FHA approval. 

In its final rule, the FHFA appears to have relented, finally paving the way for VantageScore to compete directly with FICO.

Big changes coming to the FHA condo market? Look for a big announcement on Wednesday...

Fitch: “As long as Fannie and Freddie remain in conservatorship and continue to be supported by the substantial funding under the PSPA, their ratings will continue to be linked to the U.S. sovereign rating."

UWM CEO Mat Ishbia: “I’m not a person that believes the expiration of the patch is going to be a major industry event.”

Francois Grunenwald, Ocwen's new SVP and CAO, is a graduate of the University of Paris. His signing bonus (just for taking the job) is $100,000. He joins the nation’s 12^th largest servicer from PricewaterhouseCoopers…

Two questions – one about language preference and another about homeownership education and housing counseling – will be removed from the GSE application.