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Home » Authors » George Brooks

Articles by George Brooks

HUD Won’t Adopt CFPB’s Amended QM Points-and-Fees ‘Cure’ Provision

November 4, 2014
George Brooks
The CFPB initially allowed a simple refund of the excess amount under certain conditions...
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Short Takes: Mortgage Brokers Putting All Their Eggs In One Basket? / Are Cash-Out Refis Making a Comeback? / Piggy-back Loans Too? / Holy Ellie /MI Update

November 3, 2014
George Brooks and Paul Muolo
What? Are piggy-back mortgages making a comeback?
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Short Takes: Lower Rates Affecting M&A? / Gain-on-Sale Not So Bad / FHA May Penalize Lenders on Re-certifications / JPM and Non-QMs? / Nonbanks Love Ginnie, but is the Feeling Mutual?

October 28, 2014
George Brooks and Paul Muolo
Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...
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HUD to Let Property-Flipping Waiver Lapse

October 27, 2014
George Brooks
HUD believes the program’s initial objectives have been attained and that prudence and vigilance are again called for to prevent abuses.
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Ginnie Mae Will Allow for Supplemental Insurance on the VA Guaranty

October 21, 2014
George Brooks
HUD's Castro noted that the VA program limits its loan guarantee to a maximum of 25 percent, leaving many lenders exposed and reluctant to offer VA-guaranteed loans.
Read More

Wall Street Says ‘Not so Fast’ On Single GSE Security; Lenders Say Full Speed Ahead

October 17, 2014
George Brooks
Creation of a single GSE MBS would eliminate Freddie Mac's pricing disadvantage and improve liquidity in the to-be-announced market.
Read More

Small Mortgage Lenders Renew Call for Lower FHA Premiums; A Healthier MMIF?

October 17, 2014
George Brooks
The fiscal 2014 audit report on the health of the FHA MMIF is expected to be released in mid-November.
Read More

Short Takes: Varde Who? / Rich Investors Making Money Off Subprime / The 10-Year Goes South / Radian Set to Report Earnings / Does the CFPB Dislike Mortgage Brokers?

October 15, 2014
George Brooks, Paul Muolo, and Thomas Ressler
Deephaven founder Matt Nichols isn’t ready to provide details on the subprime lender's game strategy quite yet...
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FHA Loan Reviews Continue to Find Defects

October 13, 2014
George Brooks
Given the wide gap between the initially unacceptable findings and the subsequent “refresh” results, some lenders may ask the FHA to discontinue its disclosure of initially unacceptable findings.
Read More

Supreme Court Gets Another Crack at the ‘Disparate Impact’ Question

October 6, 2014
George Brooks
Two previous cases have raised similar issues tied to the legal theory of disparate impact.
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