Bank of America claims the CID is unnecessary, redundant and unduly burdensome because the bureau already has the information it is seeking. 

Among the commenters: The National Association of Realtors, which suggested using the DTI ratio as a compensating factor.

Some are calling for the GSEs’ automated underwriting systems to be used after the QM patch expires to determine whether a mortgage is a QM.

The spokesperson added: “It should be noted that in the recently announced housing finance reform plan, Treasury recommends that volume-based pricing discounts or similar incentives should be prohibited at the enterprises.”

Eli Global (Global Growth) owner Greg Lindberg entered a not guilty plea in the case and just last week filed a motion to dismiss.

Some mortgage market participants suggested the CFPB replace the DTI ratio standard with a different measure, such as a residual income test.

Back in 2011, large bank servicers – including Wells Fargo, JPMorgan and Bank of America – controlled roughly 94% of the mortgage servicing market, a fact cited in a new report from the Conference of State Bank Supervisors. Today, just four commercial banks rank among the top 10 servicers.

The CSBS report: “Thin liquidity margins, especially when coupled with the other risks identified above, can put a nonbank in a sudden compromised position triggered by a reduction in revenues or other market or economic events such as volatile interest rates that can have significant impact on the value of MSRs.”

FHFA Director Mark Calabria: Reducing risk isn’t necessarily the same as reducing volume…

Flagstar estimates it will recover about $1 million of the cost in the third quarter while it continues to pursue other legal remedies tied to Live Well...