Browse articles from IMFnews related to Regulatory.

November 20, 2018 - IMFnews

Short Takes: A New 52-Week Low for Ocwen / John Britti’s Stock Awards / The Dow Swoons, Rates Fall / Freddie’s ACIS Deal / Ed Pinto Weighs in on GSE Capital / Merry Christmas, Buy a House (The Day After) / UWM Still #1 in Wholesale

Ed Pinto wants a 4.0 percent capital ratio for Fannie Mae and Freddie Mac...

November 19, 2018 - IMFnews

FHA Seeks to Strengthen MRB Authority

While the goal of a stronger MRB is not new, it has taken on a new urgency in discussions between HUD and DOJ...

November 19, 2018 - IMFnews

Meetings Scheduled for January as Nonbanks Ponder Impact of Ginnie ‘Liquidity Letter’

Nonbanks need to come up with a contingency plan if warehouse lines of credit and other forms of financing are not renewed or are reduced.

November 16, 2018 - IMFnews

What We’re Hearing: GNMA’s Michael Bright is Taking No Chances / Ginnie Servicing is Now Worth… / Bright and the FHFA Job / The Bigger You Are… / 47 Percent of Lenders Eyeing the Non-QM Market? / Radian Gets a New Controller

A new poll being conducted by Inside Mortgage Finance/IMFnews shows that 47 percent of lenders are contemplating originating non-QM mortgages in 2019...

November 16, 2018 - IMFnews

House Power Shift May Have Little Impact on GSE Reform While Dampening Reg Relief

In a recent eight-page memo outlining her priorities, Rep. Maxine Waters did not address the conservatorships of Fannie Mae and Freddie Mac…

November 16, 2018 - IMFnews

Under Michael Bright, Ginnie Mae Continues to Tighten Issuer Standards, Accountability

Ginnie said the evaluation will be “similar to those employed by credit rating agencies.”

November 15, 2018 - IMFnews

Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS

If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.

November 15, 2018 - IMFnews

Very Good News: MMIF Capital Ratio Improves to 2.76 Percent. As for a Cut in Premiums…

The fund's value has improved, but FHA premiums will not be cut...

November 14, 2018 - IMFnews

Short Takes: MMIF Audit Due Thursday / Good News Expected but no FHA Premium Cut / Trades Voice Support for Kraninger at the CFPB / A Promotion at Stewart Title

The groups expressed their view that Kraninger has the ability to lead and manage the CFPB and protect the financial interest of consumers.

November 14, 2018 - IMFnews

1,400 Stakeholders Contacted as Part of GSE UMBS Conversion

Fannie and Freddie and their joint venture, Common Securitization Solutions, will implement the SSI and issue the first UMBS on June 3 of next year…

November 13, 2018 - IMFnews

Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official

Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.

November 13, 2018 - IMFnews

Industry Calls for CFPB Rulemaking to Clarify the Role of Guidance

Lenders continue to worry about examiners critiquing them on issues not based in law…

November 13, 2018 - IMFnews

KBW Raises Earnings Estimates on Fannie and Freddie, Questions CRTs

As of Sept. 30, Fannie and Freddie had some form of risking sharing on 38 percent to 42 of their guaranteed portfolios, respectively.

November 13, 2018 - IMFnews

CFPB Exams Continue Apace Despite the 'Mulvaney Effect’

MBA’s Pete Mills noted that IMBs of all sizes from small to large are examined each year…

November 12, 2018 - IMFnews

Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending

United Wholesale Mortgage continues to hire...

November 12, 2018 - IMFnews

Odds of GSE Reform May Not Have Changed Much

Gone from the Senate, via retirement, is Sen. Bob Corker, R-TN, a moderate Republican who was a proponent of reforming the secondary mortgage market…

November 9, 2018 - IMFnews

What We’re Hearing: The ‘Hensarling Effect’ / Team Trump, Not Congress, Will Reshape the Fannie and Freddie / Timing? / Selling Servicing Rights to Unleash Revenue / Ocwen’s Head Count

The first move expected is a possible lowering of GSE loan limits...

November 9, 2018 - IMFnews

CFPB and FHFA Release First Loan-Level Dataset for Public Use

The CFPB and FHFA have been compiling the survey data but have never released the results.

November 9, 2018 - IMFnews

14 Nonbanks Received the Ginnie ‘Liquidity’ Letter. A Concern Regarding ‘Cash-out’ Moves by Owners?

The implication is that declining originations, plummeting refinancing volume and razor-tight profit margins are causing consternation at Ginnie…

November 8, 2018 - IMFnews

Short Takes: A Sale Agreement but What’s the Price, Mr. Cooper? / A Material Event? / UBS Expects DOJ Action / Ellington’s New Non-QM MBS / A New Hire for Home Point

UBS said the Department of Justice intends to file a civil complaint against the company relating to pre-crisis MBS issuance...

November 8, 2018 - IMFnews

HUD Working on MOU to Clarify Use of False Claims Act

FHA is considering its Mortgagee Review Board as an alternative to the FCA in meting out penalties...

November 7, 2018 - IMFnews

Short Takes: GSE Oversight Hearing Delayed Yet Again / Coming in 2019? / Maxine Water’s GSE Reform Bill? / Bermuda Insurer Partners with Radian / Ocwen’s New Name? Maybe Newco? / PrimeLending’s New Hire

Will Rep. Maxine Waters tackle GSE reform?

November 7, 2018 - IMFnews

QM Patch Expiration Could Shift More High-DTI Loans to FHA

Analysts see the expiration of the QM patch as having a lesser effect on the non-agency market and a greater impact on FHA...

November 7, 2018 - IMFnews

NYSE Suspends Trading in Ditech, Nation’s 13th Largest Servicer

Ditech said it has no plans to appeal the NYSE’s decision.

November 6, 2018 - IMFnews

Short Takes: Calabria for the FHFA Job? / Egenhoefer’s New Gig? / Ocwen’s Share Price Gets Clocked / WAMCO Prepares EC MBS / Invitation Homes’ SFR Inventory / Fast-Growing Servicers

Among the nation’s top 20 servicers at Sept. 30, Freedom Mortgage had the largest increase its MSR balances...

November 6, 2018 - IMFnews

Ginnie Asks Top Servicers to Come up with ‘Liquidity Plan’

One observer with clients who received the letter, said: “This has spooked the horses.”

November 5, 2018 - IMFnews

Short Takes: The Election Day Crystal Ball and the GSEs / One More Try at a GSE Bill? / Hensarling Wants to Bury the GSE Model / John Britti’s Extra Pay / A New Texas Branch for Waterstone

On Friday, long-time GSE critic Rep. Jeb Hensarling, R-TX, took one more rock to Fannie and Freddie...

November 2, 2018 - IMFnews

What We’re Hearing: The Strange Case of Fannie Mae and Freddie Mac / Pro-Pilot Programs / Warren Buffett and the GSEs / Mortgage Recruiter by Day, Opera Singer by Night / Lima One Makes its Move / Magnetar?

A huge non-QM expansion for Athas Capital?

November 2, 2018 - IMFnews

MBA Urges CFPB to Relax, Clarify LO Comp Rule to Spur Lender Competition

MBA sent the CFPB a letter signed by 250 member firms…

November 1, 2018 - IMFnews

First Pacific Advisors Discloses a 30.9 Percent Stake in Ditech

First Pacific is an institutional money management firm...

November 1, 2018 - IMFnews

Trump’s FHFA Appointee Expected to Curb GSE Footprint but Not Enough to Roil Housing

Eric Kaplan of the Milken Institute: “I don’t think the non-agency market is ready to absorb the market that’s taken away from the GSEs without some significant signaling in advance.”

October 31, 2018 - IMFnews

Freddie’s Layton: GSE CRT Economics Sometimes Misunderstood

Freddie CEO Don Layton said the CRT deals are “amazingly efficient…”

October 31, 2018 - IMFnews

States Criticize the CFPB’s Plan for a Trial Disclosure ‘Sandbox’

The current policy, issued in 2013, says the bureau will not approve a trial disclosure that weakens consumer understanding of valuable information, even if it improves cost effectiveness.

October 30, 2018 - IMFnews

Short Takes: Parity for the FHLBs and FanFred? / Once a Contender / Newfi and Non-QM / Strong Earnings from First American but Anxiety Too / From Alibaba to MGIC

Roughly 40 percent of Newfi Lending’s current loan volume entails the origination of mortgages that do not meet the qualified mortgage test.

October 30, 2018 - IMFnews

Digital Footprint Useful for Predicting Loan Defaults

Fun fact: Consumers with their names in the email address were 30 percent less likely to default than other customers.

October 30, 2018 - IMFnews

A Possible Problem for Ginnie: Fannie/Freddie MBS Getting an Explicit Guarantee from Uncle

Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…

October 30, 2018 - IMFnews

Fairholme Tells Investors Court Ruling ‘Should Advance’ the ‘Re-IPO’ of Fannie and Freddie

Fairholme adds: “This is good news when you count the cash that Fannie and Freddie have earned and will earn.”

October 30, 2018 - IMFnews

Mortgage Complaints Took a Dive in 3Q18

Wells Fargo once again led the complaint pack…

October 29, 2018 - IMFnews

Short Takes: Bill Dallas Speaks / FoA’s New Reverse Product / A Blow-Out Earnings Number from Freddie? / Fannie? / No Permanent President for Ginnie, Still / Former FHLB Chicago Exec Named President of CU Mortgage Firm

On Wednesday, Freddie Mac will release third-quarter results...

October 29, 2018 - IMFnews

A Sure Bet for the New FHFA Director: No More GSE Pilot Programs?

The fact that these initiatives were ever approved by the FHFA angered critics of the government-sponsored enterprises…

October 26, 2018 - IMFnews

Freddie’s Layton: CRTs Transforming Housing-Finance System

Freddie CEO Don Layton: Some 90 percent of the credit risk on multifamily mortgages is being transferred…

October 26, 2018 - IMFnews

A Coming Sea Change? CFPB Considers Disparate-Impact Rulemaking

If the CFPB issues a rule on disparate impact, there could be far-reaching implications, said Andrea Mitchell, a partner at Buckley Sandler…

October 25, 2018 - IMFnews

Short Takes: HUD Chief on GSE Reform / Carson’s Sober Take on Interest Rates / New Rez’s MSR Bet Paying Off? / In Love with a 4 Percent Mortgage / Incenter Executive Leaves for Blue Water

HUD Secretary Ben Carson had some sobering thoughts about low interest rates...

October 25, 2018 - IMFnews

Fed’s Beige Book: Rising Demand for Mortgages? A Slowdown for Dallas

In contrast, Dallas has seen slowing demand for real estate loans...

October 25, 2018 - IMFnews

Private MIs Push for More Transparency in GSE Pricing, Underwriting

While the FHFA has proposed a formal rulemaking on GSE capital, the current standard known as the conservatorship capital framework has not been made public…

October 25, 2018 - IMFnews

State Regulators Try Again with Lawsuit Against OCC Aiming to Prevent Fintech Charters for Nonbanks

John Ryan, president and CEO of the CSBS, compared the potential impact from the fintech charter to issues involving federal preemption of state laws in the lead up to the financial crisis.

October 24, 2018 - IMFnews

Ginnie Mae EVP Maren Kasper: Prepays are Still a Big Problem

A growing concern that foreign investors might avoid Ginnie MBS?

October 23, 2018 - IMFnews

CFPB Tweaks Ways to Convey Supervisory Findings

In February, the CFPB issued a request for comment regarding its supervisory programs…

October 23, 2018 - IMFnews

Senate Banking Committee Hearing on GSE Pilots is Back On – Post Election

Cowen expects the next FHFA director to either terminate the GSE pilots or let them expire...

October 22, 2018 - IMFnews

Short Takes: HUD Shows its Enforcement Stripes / Otting, the Next (Interim) FHFA Director? / Sprout Mortgage Feeds Verus Nonagency MBS / Mayer Brown Hires CMG Attorney

Otting is Comptroller of the Currency. The speculation is that he will pull a Mick Mulvaney and wear two hats for a while…


With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

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