Regulatory

Browse articles from IMFnews related to Regulatory.

July 12, 2018 - IMFnews

Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…


July 12, 2018 - IMFnews

Financial Services Industry Wants ‘Binding’ Guidance from the CFPB

The American Bankers Association argues the CFPB should acknowledge the bureau is bound by the guidance it issues…


July 12, 2018 - IMFnews

Supreme Court Takes Case on Non-Judicial Foreclosures

Some courts have determined that because non-judicial foreclosures don’t technically obligate borrowers “to pay money,” protections from the FDCPA aren’t available.


July 11, 2018 - IMFnews

Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage

Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...


July 11, 2018 - IMFnews

PMI Analysts Look at Fannie’s New MI Pilot, Wondering If It Poses a Threat

But there’s a catch for lenders: Originators will have to pay an additional loan-level price adjustment…


July 11, 2018 - IMFnews

New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority

FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…


July 11, 2018 - IMFnews

The Fed of New York Likes What it Sees on ‘Fintech’

The Fed report focused on the origination of FHA mortgages, which are generally more risky than loans eligible for sale to GSEs…


July 10, 2018 - IMFnews

Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB

Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.


July 10, 2018 - IMFnews

On the Decline: Mortgage and Student Loan Complaints

Gripes against Experian came in at 14,914 over the six-month period…


July 9, 2018 - IMFnews

Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.


July 9, 2018 - IMFnews

CFPB Deputy Director English Announces Resignation. Her Legal Challenge Ends

Last fall, English was named the CFPB’s deputy director by departing Director Richard Cordray...


July 9, 2018 - IMFnews

Agencies Leaning More on the ‘QM Patch’

The share of high-DTI loans has continued to go up this year…


July 6, 2018 - IMFnews

Short Takes: Making Sense of the BLS Mortgage Employment Numbers / Fewer Construction Workers Means… / Budget Scoring and the GSEs. Meaning? / Hey, Maybe Amazon Should buy Impac (CashCall)

So, what’s the big deal? Under FCRA, Fannie and Freddie would add $23.5 billion in revenue to Uncle Sam’s coffers for 2019...


July 6, 2018 - IMFnews

CFPB Set to Implement HMDA Relief Later This Summer

The relief comes from the Dodd-Frank reform act, which was signed into law in May...


July 6, 2018 - IMFnews

Fannie Mae Servicer Seterus the Foreclosure King of California?

Seterus is owned by IBM, but the vendor doesn’t even mention the ownership link to ‘Big Blue’ in the “About Us” section of its website…


July 5, 2018 - IMFnews

Short Takes: Megabank Bidding on VA IRRRLs / HUD Didn’t Fix the Mess / Blame the Dodd-Frank Reform Act / Applies to REMICs Only / JPM Remains the FHLB Advance King

Needless to say, the VA IRRRL issue is complicated...


July 5, 2018 - IMFnews

Trump Plan Calls for Moving USDA Housing Programs to HUD

Rep. Kenneth Lucas, R-KY, worried that rural communities face challenges that are far different than those faced by typical FHA or VA homebuyers…


July 3, 2018 - IMFnews

Despite Favorable Court Rulings, Questions Remain on Marketing Services Agreements

The RESPA statute and existing regulations still clearly prohibit payments for referrals…


July 3, 2018 - IMFnews

Banks Boost First-Lien Holdings in 1Q18 but a Slight Drop at Wells Fargo

The three largest holders of first-liens are Wells Fargo, JPMorgan Chase and Bank of America…


July 2, 2018 - IMFnews

Mortgage Insurers Waiting on FHFA and PMIERs 2.0

Keefe Bruyette & Woods believes new PMIER rules could see the light of day shortly…


June 29, 2018 - IMFnews

Another Job for CFPB’s Mulvaney? Kraninger’s Confirmation Hearing Set for July 19

“It’ll be more chaos if the president has to appoint another acting director," said one former CFPB official.


June 29, 2018 - IMFnews

What We’re Hearing: A Lifeboat Too Small? / Non-QM Loans Performing Well, So Far / Ridiculous Housing Prices Continue / A 40 Percent Disappearance Rate? / A Recession Might Save the Day / Fannie Trouble? / Costly Borrowing for WMIH

Once risk-layering appears and LTV ratios climb, then all bets are off...


June 29, 2018 - IMFnews

HUD Secretary Carson Tells Lawmakers Final Condo Rules Should be Out in September

HUD Secretary Ben Carson has acknowledged the importance of FHA condo rules, particularly for millennials…


June 29, 2018 - IMFnews

The VA IRRRL ‘Orphan’ Loan Tally: A $500 Million Mess?

Ginnie Mae: “We are glad to work with industry participants to try to find workable solutions allowable by law.”


June 28, 2018 - IMFnews

Short Takes: Ralph Nader Has Some Unkind (And That’s Putting it Nicely) Words for CFPB’s Mulvaney / Mulvaney Viewed Favorably Elsewhere / Nader and the GSEs (Remember that One?) / More M&A for Union Home / A New Hire for Mello

A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...


June 28, 2018 - IMFnews

Freddie Extends Appraisal Waivers to Condo Purchases and Refis

Now, eligible condo loan borrowers can take advantage of the appraisal waiver if ACE deems it unnecessary.


June 28, 2018 - IMFnews

Carson: HUD is Examining Policies that Go Beyond FHA’s Core Mission

In April 2018, more than 24 percent of FHA homebuyers left the closing the table with debt-to-income ratios at or above 50 percent, up from 20 percent from the same period last year.


June 27, 2018 - IMFnews

Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down

FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."


June 27, 2018 - IMFnews

A Decline in FHLB Advances. Big Drops for JPM and Wells

The figures show that compared to the first quarter of 2017, both JPM and Wells greatly reduced their FHLB borrowings…


June 27, 2018 - IMFnews

A ‘Scratch and Dent’ Market Develops for VA ‘Orphan’ Loans

Some warehouse lenders are nervous about the VA ‘orphan loan’ mess as well, sources told Inside Mortgage Finance…


June 27, 2018 - IMFnews

CFPB Expected to Revisit Views on Marketing Services Agreements

“There is potential for them to issue more guidance, and we hope it to be the right guidance that’s consistent with 40 years of the RESPA law,” said Kenneth Trepeta…


June 26, 2018 - IMFnews

Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official

Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…


June 26, 2018 - IMFnews

Servicing Advisors Worry About the GSE Role in the ‘Flow’ MSR Market

Incenter Mortgage Advisors, Denver, is getting ready to launch a flow MSR marketplace of its own…


June 26, 2018 - IMFnews

CFPB Closes RESPA Violation Case Against Zillow

In the spring of 2017, it came to light the bureau would take legal action against Zillow...


June 25, 2018 - IMFnews

FHA Officials Raise Concerns about Rising DTI Ratios, Risk Layering

At the same time, there has been an increase in the share of loans with downpayment assistance…


June 25, 2018 - IMFnews

New York Fed: CFPB Oversight Doesn’t Reduce Mortgage Lending

Fed researchers examined data before and after July 2011, when the CFPB began operation…


June 22, 2018 - IMFnews

What We’re Hearing: Mick Mulvaney, Conservative? / A GSE Starting Point? / Mortgage and Big Tech. Can it Work? / Amazon v. Quicken – is Dan Gilbert Ready? / Movement Mortgage? / LenderLive Hires an Advisor / New Hires for Ditech

One former loanDepot official had this to say about the rumor: “It makes sense. loanDepot has plenty of loan officers handling inbound leads. Amazon could create a ton more and compete with Quicken….”


June 22, 2018 - IMFnews

Jumbo Demand Steady After Tax Reform

“We didn’t observe any meaningful change in purchase loan application trends compared to earlier years,” said Archana Pradhan of CoreLogic.


June 22, 2018 - IMFnews

New York Judge Rules CFPB’s Structure Unconstitutional

The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.


June 22, 2018 - IMFnews

As Ginnie’s Book of Business Grows Even Larger, Agency Moves to Ensure Issuer Liquidity

The possibility of issuer failure is a continuing concern at Ginnie Mae…


June 21, 2018 - IMFnews

Short Takes: Sounds Logical, Right? / Warning: More Mortgage M&A Ahead / Fannie Warns about Cost-Cutting / Ginnie Wants to Know… / loanDepot Gets a Chief Innovation Officer / FannieMae.com

When it comes to counter-party risk, Ginnie Mae isn't messing around...


June 21, 2018 - IMFnews

Conservatives Rallying Against the CFPB Nominee?

Law professor J.W. Verret on Kathy Kraninger: “She doesn’t have experience with financial markets…”


June 20, 2018 - IMFnews

Short Takes: Wholesale Profit Margins Under Pressure Too? / Commercial Bank Seeks MB / A New IO MBS from JPM / An Update on Ex-FGMC CEO Peters / New Hires for Two Harbors, Walker & Dunlop

All of the loans in the new JPM deal were originated by First Republic Bank, with seasoning of seven years...


June 20, 2018 - IMFnews

Cowen: FHFA Chief Watt Won’t Act on a Capital Restoration Plan for the GSEs. However, Team Trump Might

But Cowen also offers up a ray of hope to GSE “recap and release” backers…


June 19, 2018 - IMFnews

Short Takes: Sen. Warren Will Block CFPB Nominee / Midwestern Humility / Yet More Regulations Proposed for Home Servicers / If Maxine Waters Becomes Chairman… / The GSEs, More Dominant Than Ever?

Sen. Elizabeth Warren: "Now Donald Trump wants her to run the CFPB. I will put a hold on her nomination – and fight it at every step – until she turns over all documents..."


June 19, 2018 - IMFnews

Ginnie Rolls Out New Metric for Monitoring Issuer Performance

The announcement follows recent administrative actions against three VA lenders that were penalized for cherry picking and refinancing unseasoned loans…


June 19, 2018 - IMFnews

Nine Groups Want Fannie and Freddie to Have a Regulatory-Mandated Capital Restoration Plan

Consultant Joshua Rosner of Graham-Fisher said the letter is significant because it marks the first time that the ICBA has joined with civil rights groups and housing organizations on a GSE-related matter.


June 18, 2018 - IMFnews

Short Takes: CFPB Nominee’s LinkedIn Profile / Kraninger is a Radical Pick for Trump – She’s a Career Bureaucrat / The Thumb’s Up from Hensarling / FTC Action Against CoreLogic / A SC Branch for Mortgage Network

Rep. Jeb Hensarling: "I’m confident that, under Kathy’s leadership, gone are the days of wasting more than $240 million of taxpayer money to renovate a building it doesn’t even own and paying staff to perform research that has nothing to do with the Bureau’s mission..."


June 18, 2018 - IMFnews

Should the FHFA Set Operational Standards for Mortgage Servicers? Rep. Waters Readies Bill

Mortgage servicers believe they already face intense regulatory scrutiny...


June 18, 2018 - IMFnews

Trump Picks Career Government Official to Head the CFPB. A Way to Keep Mulvaney in Charge?

Cowen: “We see the nomination of Kathy Kraninger as a way to keep OMB Director Mick Mulvaney in charge of the Consumer Financial Protection Bureau for years to come..."


Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

vote to see results