Short Takes: Coming Clean on GSE CRTs / Do a Study / A World Dying for Yield / The CFPB is Doing What? / New Rez Readies New MBS / A Major Spike in Loan Applications / Waterstone Promotes Ziebell to GC June 12, 2019 Paul Muolo, Brandon Ivey, and Yemeng Yang Apparently, the Consumer Financial Protection Bureau is busy pursuing fair lending supervision and enforcement cases. Stay tuned...Read More
FHFA Report to Congress Expresses Anxiety Over CECL, Negative Net Worth and More June 12, 2019 Paul Muolo Calabria once again calls for Fannie and Freddie to have competitors...Read More
Securitization ‘Fallback’ Lingo Drafted for the End of LIBOR June 11, 2019 Brandon Ivey Tom Wipf of Morgan Stanley: "It’s time that all market participants transition their products away from U.S. dollar LIBOR where possible..."Read More
Ginnie Mae Exploring ‘Non-Traditional’ MSR Ownership June 11, 2019 Paul Muolo Ginnie, it seems, is looking for assurances from “capital providers,” whomever they may be… Read More
Short Takes: Are the GSEs SIFI? It All Depends / No Witness List Yet for the Hearing / Phillips’ Replacement? / An M&A Deal Among Vendors / GAO Weighs in on Carson’s Spending Habits June 10, 2019 Paul Muolo Is the vendor sector ripe for M&A activity?Read More
Mortgage Servicing Reg Relief, Too Little and Too Late? June 7, 2019 Brandon Ivey The rule increases the amount of mortgage servicing assets a bank can count toward Tier 1 capital... Read More
The Treasury GSE Contract Could Be Worth $100 Million June 7, 2019 Paul Muolo One of the biggest mysterious surrounding the process is whether Treasury has issued a request-for-proposal regarding the assignment...Read More
Short Takes: A Fannie-Freddie IPO? Not So Fast / $20 a Share? / When in Doubt, Pick the White Guy Category / If Cordray Was Running the CFPB… / New Hires for Waterstone, LoanLogics June 6, 2019 Paul Muolo If Democratic-appointee Richard Cordray was still in charge at the CFPB would the Freedom Mortgage fine be larger?Read More
In Trying to Prevent a ‘Hard Stop,’ Freedom Mortgage Runs Afoul of HMDA June 6, 2019 Yemeng Yang The CFPB said the practice was not limited to a specific location, loan officer or time period...Read More
Short Takes: A Refreshing Assessment from Freddie’s Don Layton / Hey, Let’s Build an AU System Everyone Can Use (Maybe Not) / FHFA Pulls the Plug on Rate Survey / Booming Loan Originations. However… / CHLA Hires Industry Vet Willison June 5, 2019 Paul Muolo Freddie CEO Don Layton: "People tell me, ‘Well, let’s have a common AUS that everyone can use.’ My only data point on that is that to have a common system on the backend for the security (UMBS) took seven years and $2 billion to build…”Read More
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