Maria Volkova

Industry U-turns on Disparate Impact, Calls for Rule Withdrawal

July 30, 2020

According to Ted Tozer, former Ginnie Mae president, lenders experienced aggressive disparate-impact litigation during the previous administration, resulting in initial support for revising the disparate impact rule.

Short Takes: FHA Worries About Self-Employed Borrowers / CHLA Not Happy / Extend the GSE Capital Comment Period? / Out of the Mothballs / HUD Document Woes? / Correction: Rocket’s True Value: Huge

July 29, 2020

Paul Muolo, Maria Volkova, Brandon Ivey, and Dennis Hollier

According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.

Senate Confirms Trump Nominee Dana Wade as FHA Commissioner

July 29, 2020

Maria Volkova

Wade takes the helm of the government’s mortgage insurer at a tumultuous time: FHA production is strong but the COVID-19-related forbearance rate on such loans are beginning to inch up as the employment picture worsens.

Short Takes: Back in the Game: Citadel / Perl’s New Venture / Lumpiness Ahead for GSE Forbearance? / FHA Expands Loss-Mit Options / A New Athens Branch for Nations

July 28, 2020

Paul Muolo, Brandon Ivey, and Maria Volkova

KBW believes mortgage insurance firms are adequately capitalized for delinquencies, based on current levels...

FHA Employs 'Waterfall' Model for Loss Mitigation

July 24, 2020

Maria Volkova

One option places past-due mortgage amounts in separate junior liens of up to 30% of the outstanding. The lien is repayable when the mortgage ends, which is usually when a borrower refinances or sells their home.

Industry Urges HUD to Shelve New Disparate Impact Rule

July 24, 2020

Maria Volkova

If HUD implements its proposed final disparate impact rule, exceeding its authority, it could be a challenged under the Administrative Procedure Act, according to an industry attorney.