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Short Takes: About Those Million-Dollar Earners / Hear It and Then Cut It in Half / Rates? / BKFS on Forbearance / CHLA Addresses GSE Capital / A Promotion at Waterstone Mortgage

July 24, 2020
Paul Muolo and Dennis Hollier

Higher mortgage rates in six months? No one sees it...


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CFPB Settles With Foreclosure Relief Firm for $3M

July 24, 2020
Yemeng Yang

The CFPB said Certified Forensic Loan Auditors charged each customer $1,495 upfront prior to providing any services.


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Dems Worry About OCC’s COVID-19 Preemption

July 23, 2020
Yemeng Yang

The OCC last month issued several bulletins on federal preemption, including one on states’ foreclosure moratoria...


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The Pandemic Effect: A New Record High in Consumer Complaints

July 21, 2020
Yemeng Yang

The mortgage sector, which has been saddled with pandemic-related forbearance issues, has fallen off the complaint curve...


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Chicago Mortgage Banker Accused of Redlining by the CFPB

July 16, 2020
Yemeng Yang

The CFPB says that between 2014 and 2017, Townstone made statements about African Americans and predominantly black neighborhoods that discouraged prospective black applicants...


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Servicers Face Forbearance Criticism from Democrats, Consumer Advocates

July 16, 2020
Brandon Ivey

Democrats and consumer advocates suggest that some servicers aren't following forbearance requirements established by the CARES Act.


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FHA Rulemaking Focuses on Reducing Costs, Modernization

July 15, 2020
Maria Volkova

In order to lower servicing costs, FHA proposed limiting required mortgagee curtailment of interest to the length of the mortgagee’s delay...


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Feds Will Investigate Secondary Mortgage Market. JPM’s Dimon Says Rates Should be Lower

July 15, 2020

JPMorgan's Jamie Dimon welcomed the FSOC news, saying during a Q&A session, “We’ve been very consistent that mortgages, believe it or not, are more – far more costly than they should be. Normally, you’d be looking at – if you looked at the 10-year [Treasury] rate which is what, 60 basis points, the mortgage take should be 1.6% or 1.8% instead of 3.3%.”

 


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BlackRock Reduces Position in Troubled Ocwen

July 12, 2020
Paul Muolo

In a public filing this spring, Ocwen listed among its risks: “our ability to maintain positive relationships with our large shareholders…”


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Short Takes: SCOTUS and the Conservatorship / FHFA Extends Origination Flexibilities / Freddie Expands Board

July 10, 2020
Dennis Hollier
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