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FHFA Removes Question on ‘Language Preference’ from the URLA

August 12, 2019
Dennis Hollier

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


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Short Takes: Letting the Cat out of the GSE Bag / What Are You Doing for the 11th Anniversary? / Portfolio Growth, Anyone? / Shareholders Come First, Always / A Quarterly Loss for Cherry Hill

August 9, 2019
Paul Muolo
The big question that everyone wants to know: If released eventually from the shackles of conservatorship, will Freddie and Fannie grow those investment portfolios back up?
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Short Takes: FHFA Toys With the Residential Application Form / Rising Like a Rocket: Impac / And Then There’s Ocwen / A 41% Drop in Employment for this One Company / The Kill Fee Revealed

August 8, 2019
Paul Muolo

Roughly four years ago, Ocwen Financial employed 10,500 workers worldwide. The firm's headcount is down dramatically since then...


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MSR-Hungry New Residential Readies Preferred Stock Deal, Provides Ditech Update

August 8, 2019
Paul Muolo

At June 30, the REIT owned $441 billion of MSRs, a 9.7% increase from March 31. The figure exclude excess servicing rights.


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HUD Sides With Lenders on Disparate-Impact Claims

August 8, 2019
George Brooks

In its analysis of the Fair Housing Act, the Supreme Court noted the importance of limiting disparate-impact liability so as not to hinder lenders…


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More Bad News from Ocwen: Subservicing Clients Disappearing, $872M in Debt Coming Due

August 7, 2019
Paul Muolo

In a new 10-Q filing with the SEC, Ocwen disclosed roughly 40 “risk factors,” including “uncertainty” tied to litigation, cease and desist orders, investigations brought by government agencies and more…


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FHA’s Loan Review System Back Online. Documents Lost? Unclear

August 7, 2019
George Brooks

FHA originators use LRS for post-endorsement loan reviews, unconditional direct-endorsement test cases, lender monitoring reviews, and self-reporting of fraud…


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Short Takes: Ocwen’s Cash Position / Stocks for Under $5, Not Necessarily a Bargain / Lenders One Gets New Sales Chief / The Altisource Connection / NAR’s New Senior Policy Rep

August 6, 2019
Paul Muolo

The Lenders One co-op is controlled by industry vendor Altisource Portfolio Solutions, which is pondering a sale. Altisource is publicly traded and started out in life as part of Ocwen…


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Concern Over the Use of Alternative Data for Underwriting, More

August 6, 2019
Yemeng Yang

“Expansive datasets about people’s social connections, the kinds of websites they visit, where they shop and how they talk do not have the same simple intuitive connection to each individual’s ability to repay a loan,” said Aaron Rieke, managing director at Upturn...


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New Rez CEO Nierenberg Weighs In on the QM ‘Patch’ Expiring

August 6, 2019
Brandon Ivey

Rep. French Hill, R-AR, wants the QM patch to expire as well. “Allowing Fannie and Freddie to continue loading up on high-debt mortgages because of a temporary loophole has had a harmful effect on the broader housing market,” he said. 


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