UBS Settles with DOJ on Pre-2008 Claims August 15, 2023 Brandon Ivey The DOJ alleged that UBS misled investors in 40 non-agency MBS, violating the Financial Institutions Reform, Recovery and Enforcement Act.Read More
Concerns About MSRs and Capital Overblown? August 14, 2023 Paul Muolo "None of the 25 banks (that I know of) are remotely close to this cap," said one servicing advisor...Read More
Uncertainty on Timeline of New Credit Score Models August 11, 2023 Dennis Hollier Industry wants more time to comply with new credit score requirements.Read More
GSEs to Phase Out COVID Servicing Policies August 10, 2023 Dennis Hollier Most pandemic-era flexibilities regarding QRPC, forbearances and loan-modification plans will sunset Nov. 1.Read More
Ginnie Exploring Credit Facilities for Nonbanks August 8, 2023 Monica Hogan Ginnie Mae President Alanna McCargo said nonbank liquidity is the biggest challenge facing the government mortgage system.Read More
Short Takes: Mortgage Fair Housing Complaints Decline / Fewer Cash-Out Offerings / Plenty of Equity August 8, 2023 Brandon Ivey The National Fair Housing Alliance tracks complaints from fair housing organizations and government agencies.Read More
CFPB Cracking Down on LO Comp Violations; So Far, No Companies Cited August 7, 2023 James Dohnert One legal interpretation: The CFPB’s findings could stop some actions that would be in the borrower’s best interest...Read More
Ocwen Turns Profit as CFPB Declines to Appeal Court Loss August 3, 2023 Brandon Ivey Ocwen's income received a $28 million boost from “favorable adjustments to significant legal and regulatory settlement expenses.”Read More
Short Takes: Freddie Assessing Tax Transcripts / GSEs Also Downgraded / New Non-Agency MBS / HUD Increases Outreach on Appraisal Bias / Terra Property Trust Improves Offer August 3, 2023 Brandon Ivey Freddie Mac improves income verification options for self-employed borrowers.Read More
Sterling Bank Moving Past Non-QM Troubles August 2, 2023 James Dohnert Fraud in a non-QM program nearly toppled Sterling Bank and Trust.Read More
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