Need to Foreclose in New Jersey? Can You Wait 1,180 Days? January 22, 2016 Carisa Chappell The count for the Garden State is almost double the national average of 629 days... Read More
Lenders Using ‘Big Data’ for Originations Could Face Regulatory Scrutiny January 15, 2016 Carisa Chappell Angela Klein, an attorney with the law firm Morrison & Foerster, said her firm has been talking to mortgage lenders that use big data about the risk and how little guidance there is about it.Read More
‘Risk Fee’ or No Fee: Different Approaches for Fannie and Freddie January 13, 2016 Carisa Chappell In the past, some lenders have complained about forced buybacks because of loan defects even when a mortgage is current.Read More
It’s Official: FHFA Bans ‘Captives’ From FHLB System; $35 Billion in Advances Must Go – Eventually January 12, 2016 Carisa Chappell and Paul Muolo REITs have gained access to the FHLB discount window with the goal of leveraging their investments in both MBS and servicing rights. Read More
FHFA IG: Agency Did Not Comply With Underwriting Review January 11, 2016 Carisa Chappell As a result, the FHFA IG has reopened its recommendation from a previous audit report...Read More
More Office Consolidation for Fannie Mae, This Time in Texas January 7, 2016 Carisa Chappell As for potential layoffs, the government-controlled mortgage giant declined to comment.Read More
Short Takes: The loanDepot IPO Could Happen in 2016 / Just Because the CFPB Issues a Letter That Doesn’t Mean Some Lawyer Somewhere Won’t Sue / FA: Fraud Risk Rises in FL / Radian Becomes PMIER Compliant December 30, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo Now that the Consumer Financial Protection Bureau has issued a “clarifying” letter on TRID errors, all is well, right? Not necessarily...Read More
Short Takes: Home Prices Back to Pre-Bust Levels / Hot Growth for Denver, SF, Portland / A 10-Year HELOC / FHLB Cuts Warehouse Line / WJB Picks a New CIO December 29, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo It’s not every day that a Federal Home Loan Bank tells one of its members to reduce its credit facilities...Read More
More Front-End Changes to Deal With: GSE Loan Application Will Undergo a Major Redesign December 28, 2015 Carisa Chappell New data fields will be added to support Fannie’s and Freddie’s requirements, as well as those required by the FHA, VA, USDA and CFPB...Read More
Short Takes: TRID Nightmares Continued / ‘I’ve Aged Five Years in the Past Month’ / Freddie Contemplates Marketplace Lending: A Flash in the Pan? / Foreclosures Continue to Head South December 23, 2015 Carisa Chappell, Paul Muolo, and Sherry Muolo Sean Becketti, Freddie’s chief economist, said, “It's too soon to tell whether marketplace lending is the next Uber or just another flash in the pan…”Read More