Browse articles from IMFnews related to Regulatory.

May 23, 2018 - IMFnews

Reg Relief Passes Congress, Revising Dodd-Frank Act Provisions; Republicans Plan Additional Legislation

House Republicans, who previously said the Senate bill didn’t go far enough, said they will have a separate reg relief package to be considered by the Senate.

May 22, 2018 - IMFnews

House Set to Pass Reg Relief Bill With Changes to QM Standards

The House decided to take a vote on the current Senate bill with no amendments and the Senate is expected to consider a separate deregulation package from the House.

May 21, 2018 - IMFnews

Short Takes: The Senate Could Vote on Brian Montgomery Soon / House to Take up the Reg Relief Bill / Foreclosure Timelines Extended For Disaster-Area Homes / What’s Next for the CFPB Payday Lending Rule

Senate Majority Leader Mitch McConnell, R-KY, announced to take a vote on the nominee for FHA commissioner, Brian Montgomery. Given the other nominations already in the Senate floor queue, the vote is expected to occur sometime in June…

May 21, 2018 - IMFnews

Treasury Official Sees Major Impact from Single Security

A key Treasury Department official suggested that issuers of non-agency MBS may someday participate in the common securitization platform being developed by Fannie Mae and Freddie Mac.

May 16, 2018 - IMFnews

Short Takes: Time to Change the QM Rule? / Bright Tapped to Head Ginnie / MSR Sellers Sitting Pretty? / After the Recession… / Applications Decline Again / NAR’s Chief Lobbyist Sets Retirement Date

Residential firms looking to sell mortgage servicing rights are in a sweet spot right now. However...

May 16, 2018 - IMFnews

Coming Uniform MBS Could Have Side Effects for Fannie Mae

Fannie disclosed the single-security “may adversely affect our financial results and contribute to declines in the liquidity or market value of our MBS.”

May 15, 2018 - IMFnews

Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer

Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...

May 15, 2018 - IMFnews

New Rulemaking Agenda Suggests a Restrained Role for the CFPB

The updated agenda is the CFPB’s first under Mulvaney’s leadership.

May 15, 2018 - IMFnews

Secondary Market Activity Strong in 2017

Originators also sold $483.13 billion of loans to unaffiliated buyers outside of the agency market…

May 14, 2018 - IMFnews

Short Takes: Ditech Ready to Roll Out Jumbo Product? / Who is Samuel Martini and Why Does he Like Ditech? / An Explanation of Legal Risks / What’s $164 Trillion Among Friends?

Total U.S. debt outstanding is just over $21 trillion. Prior to the financial crisis, U.S. mortgage debt was actually larger than Treasury debt...

May 14, 2018 - IMFnews

Lenders Quantify Cost, Impact of CFPB’s ATR Rule

Lenders estimated that ATR/QM added $139 per loan to their ongoing origination costs.

May 14, 2018 - IMFnews

Nationstar Discloses SEC Inquiry Regarding MSR Measurements

The OCA consultation process was initiated in connection with an investigation by the Division of Enforcement that remains ongoing, the nonbank said.

May 11, 2018 - IMFnews

What We’re Hearing: Anxiety Rising Regarding GSE Reform / Higher G-Fees? No More Cash-out Refis? / What Mick Mulvaney Might Do if He Headed the FHFA / Mulvaney’s PADs / Layoffs at Impac

Surely, conservatives are applauding the way Mulvaney is trying to remake the Consumer Financial Protection Bureau...

May 11, 2018 - IMFnews

Collateral Backing Freddie LOC $5 Billion to $7 Billion in Size?

A former Fannie executive (pre-federal takeover) said that when he worked at the GSE, “We looked at doing this, but were told it wasn’t in the charter and so we didn’t proceed.”

May 11, 2018 - IMFnews

REITs Pull Back from MBS Investments Ever So Slightly

It’s not clear if the REIT sector will amp up its participation in credit-risk transfer deals offered by Fannie Mae and Freddie Mac…

May 10, 2018 - IMFnews

Short Takes: Impac Employees Looking Around? / Ex-CFPB Chief Cordray Wins in Ohio, but… / Will Warren Pick Cordray to Head the CFPB (Again)? / AIG Unit Readies Jumbo MBS / PennyMac Restarts Jumbo Unit

Cordray was never popular in the mortgage industry because of all the regulations he heaped on lenders and servicers...

May 10, 2018 - IMFnews

CFPB Chooses Not to Appeal PHH RESPA Ruling. A Shift from ‘Regulation by Enforcement’

Former CFPB Director Richard Cordray challenged PHH’s captive reinsurance program, ruling that any referral of settlement business that involves payments is prohibited under RESPA…

May 9, 2018 - IMFnews

Short Takes: Caliber Brings Ginnie MSR Deal / The Nation’s Highest Paid Loan Broker: Doug Lebda ($59M) / Ex-Fannie Exec a Candidate for FHFA Job? / The PHH Head Count

It was a nice pay check last year for LendingTree founder and CEO Douglas Lebda...

May 9, 2018 - IMFnews

Ginnie Mae Reinstates Nations Lending Following Talks on Loan Churning

Nations Lending was reinstated by Ginnie Mae after reaching a confidential agreement…

May 8, 2018 - IMFnews

Short Takes: Ditech Sets Comp Package for New CEO Marano / Share Price Struggles / Two Ditech Directors Take Home the Bacon / GE Sets Aside $1.5B for WMC Settlement / Better Hires CFO

Ditech directors – George Awad and Neal Goldman – had pay packages of $573,700 and $553,500, respectively.

May 7, 2018 - IMFnews

Freddie Now Extending Lines of Credit to Nonbanks. The Collateral: Mortgage Servicing Rights

One former Fannie Mae executive was critical of the effort, calling it “mission and charter creep.”

May 7, 2018 - IMFnews

Prospects Suddenly Brighten for Regulatory Relief…

Earlier in the month, Rep. Jeb Hensarling, R-TX, said he is open to “other pathways…”

May 7, 2018 - IMFnews

Figuring Out Who Might Succeed Mel Watt as FHFA Director – It’s Complicated…

Also, there’s a growing fear that in the absence of Congressional action, a free-market leaning Treasury Department, in tandem with a Trump-appointed FHFA director, might alter the way GSEs operate...

May 4, 2018 - IMFnews

What We’re Hearing: The New MBA CEO Will Be… / A ‘November Surprise’ for GSE Reform? / Is it 10 Years Already? / What ‘Mr. Market’ Thinks of Fannie and Freddie / GSE CRT Deals, a Great Return? / NewDay in the Clear?

Here’s a prediction: GSE reform legislation will only pass if, and when, the Democrats take control of the House, Senate and the White House.

May 4, 2018 - IMFnews

Price War on GSE Guarantee Fees Ended in Early 2018 in Response to FHFA Directive…

Freddie CEO Donald Layton told Inside MBS & ABS that implementation of the FHFA directive “has largely been complete.”

May 3, 2018 - IMFnews

Short Takes: Investors Unite: Mel Watt is the Only One ‘Tuned into Reality’ / Strong 1Q18 Results for Nationstar / Loan Production Not so Bad Either / Finance of America Wants Brokers to Call it This / Correction on New Day

Investors Unite: "We’re in trouble if the secret plan for GSE reform rests on axing the only public official who is actually tuned into reality…”

May 3, 2018 - IMFnews

NAR Sees $6.5B in GSE Profits and Asks the FHFA for Reductions in G-Fees, More

The NAR is hoping that a cut in g-fees (and LLPAs) ultimately will be passed down to consumers – who buy homes from NAR’s members.

May 2, 2018 - IMFnews

Short Takes: What’s in a Name? / First, We Change the Name in the AP Style Book / CRL Wants FHA Changes / Fannie Tech Official Departs for Vendor

CFPB Acting Director Mick Mulvaney: “I don’t know why we call it the CFPB; that is not the name of the organization..."

May 1, 2018 - IMFnews

Consumer Mortgage Complaints Take a Dive

Total gripes filed during 1Q18 were down 36.3 percent from a year ago…

May 1, 2018 - IMFnews

The GSE Reform Bust Blues: Worrying About Mel Watt’s (Potential) Successor at the FHFA

There’s been speculation that when the Trump administration picks Watt’s successor, one of the first things that person might do is impose a loan-size purchase limit on the two government-sponsored enterprises.

April 30, 2018 - IMFnews

Short Takes: HUD Yanks Approvals on 23 Lenders, Most of Them Banks / Goldman Sachs, Warehouse Lender, but… / Rep. Waters None Too Happy with Mulvaney / A Document Dump is Requested / A Promotion at J.G. Wentworth

Rep. Waters wants CFPB acting director Mulvaney to turn over documents regarding meetings he's had with the industry...

April 30, 2018 - IMFnews

CMLA Picks Industry Vet Ed Wallace as New Director

CMLA favors a recapitalization and reform plan for Fannie Mae and Freddie Mac, one where they are transformed into “utilities.”

April 27, 2018 - IMFnews

What We’re Hearing: GSE Reform? How About 2021? / The Return of Ed DeMarco? / No Political ‘Protection’ for Fannie and Freddie / RMS Scores a Repo Line from Barclays / Bucking the Production Trend: Home Point / New Hires for Plaza Home

Mel Watt has roughly eight more months in office, but already industry lobbyists and GSE watchers are playing “guess who the next FHFA director might be.”

April 27, 2018 - IMFnews

In New Amendment, CFPB Addresses the TRID ‘Black Hole’ Issue

In July 2017, the CFPB proposed an amendment to resolve the black hole issue and began taking comments.

April 26, 2018 - IMFnews

Altisource Reports a Loss, Declining Revenue and Says the CFPB Won’t Take Action Against It

In February of last year, Altisource disclosed in an SEC filing that the CFPB was looking into the vendor’s relationship with Ocwen...

April 26, 2018 - IMFnews

Sen. Brown Says CFPB Chief Mulvaney Must Go, Cites ‘Pay to Play’ Comments

Sen. Brown said he wants a new CFPB director, one with a moral compass…

April 26, 2018 - IMFnews

Lenders Divided on Whether Changes Should be Made to QM Standards

“It appears that the larger the investment, the larger the resentment,” Stratmor said.

April 26, 2018 - IMFnews

Acting FHA Chief Dana Wade Sees Disturbing Trends, Worries About Potential Losses

Warning sign: In February, the percentage of FHA borrowers with DTI ratios above 50 percent rose to 24.6 percent, up from 19.8 percent a year ago.

April 25, 2018 - IMFnews

Sen. Crapo Says GSE Reform Still Possible in This Congress (You Heard That Right)

The senator disagreed with comments made earlier in the day by HUD Deputy Secretary Pam Patenaude, who said there aren’t enough legislative days left...

April 25, 2018 - IMFnews

VA Servicing Continues to Grow at a Nice Clip

Don’t look now, but Ginnie Mae MBS outstanding is approaching the $2 trillion mark…

April 24, 2018 - IMFnews

Short Takes: In Service of Fannie, Freddie and the Common Good / Fannie Ponies up to the REITs / Amazon a Bank? Good Luck with That / NYDFS Investigates RTO / FofA Hires loanDepot Manager

A new policy change implemented by Fannie Mae will allow REITS, come May 1, to start investing in the GSE’s Connecticut Avenue Securities risk-transfer deals.

April 24, 2018 - IMFnews

The FHA Share of Mortgage Complaints Filed with the CFPB: 13 Percent

According to the CFPB’s annual report on consumer disputes, the bureau received roughly 37,300 mortgage complaints in 2017...

April 23, 2018 - IMFnews

VA’s Plan to Make VALERI a Fully Operational AUS Well Underway

One of the goals of the conversion project is to improve program performance…

April 20, 2018 - IMFnews

What We’re Hearing: A Kinder, Gentler (and Smarter) Nonprime Industry? / Varde Raises $750 Million / Don’t Layer That Risk / When the Worm Turns… / At Ocwen, Former Government Officials Bring Home the Bacon / NSM Gets a New COO

The highest paid Ocwen director last year was Phyllis Caldwell, who took home $372,649. Caldwell is a former Treasury Department official.

April 20, 2018 - IMFnews

Wells Fargo to Pay Uncle Sam $1 Billion to Settle Rate-Lock and Auto Lending Violations

The settlement is the first enforcement action by Acting Director Mick Mulvaney since he took over the bureau in late November.

April 19, 2018 - IMFnews

Short Takes: Tom Marano, Ditech’s $5 Million Man? / Ripe for a Major Disruption: The Subservicing Market? / Good News: Applications Rise / Rep. Waters Introduces FHA Bill / Ditech Gets a New COO

There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.

April 19, 2018 - IMFnews

FHFA Under Pressure to Act More Like a Bank Regulator with Fannie & Freddie

Republican congressmen generally agreed with the IG’s recommendations and raised additional concerns about mission creep at Fannie and Freddie…

April 18, 2018 - IMFnews

Short Takes: FHFA IG Issues Heavily Redacted Report on GSE Cybersecurity / Ditech Worries about Cybersecurity / IBM Says Nothing About Seterus (Again) / What’s in a Title? Off with Their Heads!

As a practice, IBM rarely says a word about Seterus...

April 18, 2018 - IMFnews

MBA Casts the Net Far and Wide for New Chief. Jeb Hensarling?

The way things stand today, those finalists include at least two industry veterans…

April 18, 2018 - IMFnews

Complaints Filed with the CFPB Surged in 1Q18

Acting CFPB Director Mick Mulvaney is considering removing the CFPB complaint database from public view…


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