IMFnews

April 25, 2017

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ICBA Calls for Delay of Single Security Until GSEs are Recapitalized and Released from Conservatorship

The ICBA believes the GSE risk-sharing securities are illiquid and would likely “dry up” in times of market stress. Read More

Flagstar’s 1Q17 Results: Originations and Earnings Both Fall; MSR Sales Will Continue

Flagstar sold $8.0 billion of residential servicing rights during the first quarter compared to $6.7 billion in the fourth quarter. Read More

Nonbanks Keep Building Market Share in GSE Servicing Rights

Nonbank mortgage firms increased their servicing portfolios by 3.0 percent during 1Q17, more than double the 1.3 percent increase in total Fannie/Freddie servicing during that period. Read More

CFPB Proposes Clarifications to HMDA Rule; What Exactly is an ‘AU’ System?

Such loan terms as “temporary financing” and “automated underwriting system” would be clarified… Read More

The Wild Card for Ocwen: Getting (Some of) Its Servicing Yanked

Fitch notes that New Residential Investment Corp., a publicly traded REIT, owns $118.7 billion in servicing rights that are being subserviced by Ocwen. Read More

Short Takes: Fannie Mae’s Goal: to Help Those with Student Loans / As Long as Someone Else Pays / Fannie is NOT Entering the Student Loan Business / The Key: Cutting G-Fees / Quicken Hires Fiat’s Ad Guy

A Fannie spokesman stressed that this effort in no way represents the GSE getting into the student loan business… Read More

Ocwen Files to Block Sanctions in Illinois and Massachusetts; Plans to Fight All the Other States as Well

The company adds: “Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the company.” Read More