Regulatory

Browse articles from IMFnews related to Regulatory.

March 26, 2019 - IMFnews

Allow the ‘GSE Patch’ to Expire, Think Tanks Recommend

The CFPB introduced the GSE patch in 2014 as a temporary measure…


March 26, 2019 - IMFnews

Hearings Commence on GSE Reform. NAHB Worries About ‘Administrative’ Changes, Academic Trashes Crapo’s Ideas

Georgetown Law Professor Adam Levitin: “I am deeply concerned about the basic direction of the chairman’s housing-finance reform proposal outline..."


March 25, 2019 - IMFnews

Short Takes: The Mueller Report, the Legislative Calendar and the GSEs / No Kumbaya Moment Here / Let the Administrative Changes Begin / Better Enters FHA Market / The Market Doesn’t Love Us, So We’re Selling

And that means: two more years of hyper-partisan bickering on both sides and legislation only getting passed if there’s a bi-partisan consensus or a national emergency...


March 25, 2019 - IMFnews

Passive MSR Investors Asked to Register. A Big Deal or Ho-Hum?

In Ohio, a passive investor must obtain what’s called a residential mortgage lending certificate of approval.


March 25, 2019 - IMFnews

Fannie/Freddie Debt Dealers Accused of Price Fixing

The defendants include Bank of America, Credit Suisse, Goldman Sachs and many other dealers…


March 22, 2019 - IMFnews

What We’re Hearing: Goldman Sachs is Doing What? / A Wall Street Warm Up? / 10.75% Money for Freedom Mortgage / A Grade of B+ / The Green New Deal a More Important Issue than Calabria? / CoreLogic Executive Lands Top Post at Fannie Mae

In the Senate, the 'Green New Deal' is more important than Mark Calabria?


March 22, 2019 - IMFnews

FHA Lenders Can Opt for Third-Party Verification

The new guidance applies to all FHA forward mortgages and HECMs…


March 22, 2019 - IMFnews

CFPB Makes Changes to Advisory Boards, Reversing Decisions Made by Mulvaney

The bureau plans to extend the terms of half the current members in order to achieve the staggered terms and ensure continuity.


March 21, 2019 - IMFnews

Short Takes: The Supremes Rule on Foreclosures and the FDCPA / It’s Good to be King, Unless You’re the CEO of Freddie Mac / Angel Oak Bolsters Office Space Big Time / Tennessee Bank Looking for Non-QM Loans / Two New Directors for Fannie / Correction: Freddie CEO, Not Fannie

Based on Freddie’s annual profits, CEO Don Layton is probably one of the two most underpaid bosses in the world of finance. Soon that distinction will belong to David Brickman...


March 20, 2019 - IMFnews

OCC Fines Citibank $25M for Fair Lending Violations

According to the consent order, between 2011 and 2015, Citi had certain control weaknesses related to its “relationship loan pricing” program...


March 20, 2019 - IMFnews

Senate Banking Committee Unveils Lineup for Two Days of GSE Reform Hearings

When it comes to GSE reform, it's never too early to call 12 witnesses...


March 20, 2019 - IMFnews

Short Takes: Getting the Industry’s Pulse on GSE Reform / Who Gets to Lead? / Why Phillips Didn’t Get the FHFA Job / The Battle for Risk / Selling Shares in Invitation Homes / Radian Names Dave Stevens to Its Board

Who knows more about GSE reform: the White House or Treasury? We get a sense the two parties don't see eye to eye on everything...


March 19, 2019 - IMFnews

Short Takes: Why the GSE Net Worth Sweep Won’t be Reversed / Recap and Release? / A Much-Watched Profit Reading / Starwood and Impac, a Symbiotic Relationship / Bank Failures, Anyone? / Reverse Lender Hires Sales Chief

Each quarter, GSE profits reduce the federal budget deficit. If that cash is forfeited...


March 18, 2019 - IMFnews

Short Takes: A New Wave of Optimism? / Value Your CFO / Feds Plan Community Hearings on BB&T-SunTrust Deal / MFA Buying Plenty of Whole Loans. Can An MBS Be Next? / Former HUD Official Pam Patenaude Lands

Mortgage REIT MFA Financial, New York, bought roughly $1 billion worth of loans during the fourth quarter...


March 18, 2019 - IMFnews

Genworth Sale Continues to Drag On, Ninth Waiver Granted

The sale of Genworth was first announced in October, 2016…


March 18, 2019 - IMFnews

Worried About Risk, FHA Seeks to Mitigate Decreasing Credit Scores, More…

Changes to the agency’s TOTAL Mortgage Scorecard, go into effect March 18...


March 15, 2019 - IMFnews

What We’re Hearing: The Changing of the Guard at the FHFA / A Deep Resume / Retained Capital for Fannie and Freddie, a Matter of When? / The Holy Grail / Impac Mortgage, Act III / FHA Moves to Sure Up its Book

An increase in retained earnings is a pre-cursor to GSE “recap and release,” or as Fannie/Freddie investors call it, the Holy Grail…


March 15, 2019 - IMFnews

FHFA’s Otting in a Position to Bolster the Non-Agency Market

SIFMA’s Daniel Goodwin: “Financial regulators must create a level playing field so that entities like the GSEs do not enjoy capital benefits that add to the tilting of the market…”


March 14, 2019 - IMFnews

Short Takes: Not the Best Written Indictment? (Manafort) / Bought for $3 Million but Worth $8 Million a Few Years Later / Rates Move Lower / Applications Move Higher / PennyMac’s $200 Million Stock Sale / A New Hire for Gateway Mortgage

Thanks to declining interest rates, lenders are feeling more optimistic these days...


March 14, 2019 - IMFnews

Lender Diversity, Inclusion Activities on CFPB’s Radar Screen

The letters refer to the diversity and inclusion standards issued by the agency in 2015...


March 14, 2019 - IMFnews

SBC Chairman Crapo Schedules Two Days of Hearings on GSE Reform

NAR would like to see Fannie and Freddie restructured as tightly regulated shareholder-owned utilities...


March 14, 2019 - IMFnews

CFPB Promises to Resolve GSE ‘Patch’ Responsibly

In January, the CFPB released a five-year look-back report assessing the implementation and effect of the ability-to-repay rule…


March 13, 2019 - IMFnews

Tiered Supervision of Nonbanks Advocated by Trade Groups

Nonbanks in recent years have expanded their presence in the market significantly...


March 13, 2019 - IMFnews

Short Takes: More Non-QM MBS Deals on the Way / What’s Ginnie Mae Really Worried About? / A Big ‘Nothing Burger’? / What Borrowers Want When They Shop Online for a Mortgage / Amherst’s Appetite for SFR / A New Hire for Incenter

Another official described the Ginnie Mae change as a “nothing burger…”


March 12, 2019 - IMFnews

Short Takes: Banking on a GSE Dividend / Maybe Next Time Around / Democrats Put CFPB Chief Kraninger on the Grill / Home Point Expands Correspondent Presence / A New Creative Hire for Guaranteed Rate

Kraninger faced some tough questions from Sen. Warren...


March 12, 2019 - IMFnews

HFSC Chairwoman Asks CFPB Staffers to Expose Bad Bosses

The Congresswoman said she is troubled by recent reports that show employee satisfaction at the CFPB fell sharply last year…


March 12, 2019 - IMFnews

In New Budget, White House Hikes Value of GSE Senior Preferred by 21%

However, there is no detailed explanation on the accounting…


March 12, 2019 - IMFnews

Trump Wants to Slash HUD’s Budget by 16%, but Allows for FHA ‘Tax’ to Upgrade IT

The Trump White House wants to impose a fee on FHA lending to raise the money...


March 11, 2019 - IMFnews

IGs Asked to Investigate GSE Insider Trading Allegations Tied to FHFA/OCC Employees

Two public watchdog groups are demanding an IG probe into possible media leaks and a spike in the stock price of GSE shares...


March 8, 2019 - IMFnews

Short Takes: SIFMA Approves Changes for UMBS / A New Focus for CFPB / QM Patch and First-Time Homebuyers / MBS Backed by Small-Balance Commercial Loans

There was some speculation before the vote that SIFMA might delay the guidelines or otherwise hinder UMBS issuance, but the vote on Wednesday was passed with a “significant majority,” according to SIFMA.


March 8, 2019 - IMFnews

Kraninger Defends Restructure of CFPB’s Fair Lending Office Implemented by Mulvaney

Kathy Kraninger, director of the Consumer Financial Protection Bureau, said she won't reverse the restructure of fair lending office made by former Director Mick Mulvaney


March 7, 2019 - IMFnews

Short Takes: GAO on Housing Finance Reform / Kraninger Setting CFPB’s Priorities / Freddie Automates Income Calculation for Self-Employed / Affordability Improving

The lack of action by Congress on the federal government’s role in housing finance makes the issue “high risk,” according to a new report by the Government Accountability Office.


March 6, 2019 - IMFnews

Short Takes: Ben Carson to Leave HUD After 2020 Election? / CFPB Hearing / Home Price Appreciation Slows / Mortgage Applications Down / Pinto’s Housing Finance Reform Plan

Housing and Urban Department Secretary Ben Carson said he is planning on leaving his post at the end of President Trump’s first term ...


March 6, 2019 - IMFnews

CFPB Expected to Roll Back 2015 HMDA Rule

The CFPB is likely to propose changes to the mortgage disclosure rule, according to industry observers ...


March 6, 2019 - IMFnews

Trade Groups Again Seek Delay of Accounting Standard Set for 2020

A number of trade groups renewed their request on Tuesday for a delay in implementation of the current expected credit loss accounting standard ...


March 6, 2019 - IMFnews

Final Rule on UMBS Issued; June Launch Date Remains

The Federal Housing Finance Agency last week issued a final rule aimed at improving liquidity of the to-be-announced MBS as well as the new uniform MBS, which makes its debut in early June ...


March 5, 2019 - IMFnews

Short Takes: Freddie Mac Invests $61M in Affordable Housing / AMC Acquires a Title Search Firm / Stevens Joins Tech Company / CFPB Kicks Off PACE Financing Rulemaking

Freddie Mac on Monday initiated three investments in affordable housing managed by National Equity Fund ...


March 4, 2019 - IMFnews

Short Takes: Pondering the Letter Sent to Joseph Otting / Among the Signors… / More MSR Auctions in the Works / MetLife Has a Nice War Chest of Whole Loans / A New Hire at Gateway Mortgage

More servicing-related auctions are in the pipeline, including a $2.97 billion Fannie Mae/Freddie Mac portfolio from Phoenix Capital...


March 4, 2019 - IMFnews

Feds and Florida Seek to Merge Ocwen Lawsuit

Seeking a merger of the complaints, federal and state regulators now believe their cases overlap sufficiently regarding questions of law and fact…


March 1, 2019 - IMFnews

What We’re Hearing: Throwing Down the Gauntlet on Fannie-Freddie Changes / 27 Trades Sign On / Not One Voice of Concern? / Freddie’s MSR Pilot? / Fixing the Broken Companies / Eli Global and Greg Lindberg Back in the News / Busy Being Named a Director

Is the Senate Banking Committee ever going to hold a hearing on GSE pilot programs?


March 1, 2019 - IMFnews

How Soon Can the Calabria Vote Reach the Senate Floor? May?

One GOP staffer told Inside Mortgage Finance the combination of strong industry support for Calabria, plus the nominee’s “bravura performance” at his confirmation hearing, probably sealed the deal on a quick trip


March 1, 2019 - IMFnews

Mortgage-Investing REITs Pony Up to the Stock Bar

Mortgage-investing REITs aren’t shy about selling additional shares of common to the public…


February 28, 2019 - IMFnews

Short Takes: A Mega Servicing Deal Approaching? / ‘Goldilocks’ Pricing / The Ditech Portfolio? / Fannie & Freddie Common Take a Rest / FHFA’s Final UMBS Rule / Bell Bank Opens AZ Branch, Mortgages on the Menu

The share price of Fannie Mae and Freddie Mac common has been on a mild downward slope since Feb. 22. Meaning?


February 27, 2019 - IMFnews

Short Takes: HomeBridge Eyes HomeStreet’s Mortgage Network / As for the Mortgage Servicing Portfolio… / Figuring Out the Calabria Vote / A Rally for Ocwen / A Red Hot MSR Market / A Glum Assessment on Mortgages from Joe Garrett & Co.

Ocwen's share price took off like a rocket Wednesday morning...


February 27, 2019 - IMFnews

CFPB Fair Lending Activity Is More Supervisory Focused These Days

During the reporting period, the bureau initiated 13 fair lending supervisory actions targeting financial services institutions.


February 27, 2019 - IMFnews

SFIG Speakers Expect Administrative Reform of the GSEs. Capital Build? Yes

Michael Stegman: “Clearly, there is going to be some kind of capitalization of the GSEs..."


February 26, 2019 - IMFnews

Short Takes: How Fast for Calabria? Very Fast / It Pays to Have a Godfather / What About a ‘Hold’? / Record Attendance at SFIG Vegas / Mixed Opinions on Expanded-Credit

Now for the big question: Will any Democratic senators put a hold on the Calabria nomination?


February 26, 2019 - IMFnews

CFPB Plans Supervisory and Enforcement Budget Cuts

The new CFPB director wants to keep cutting the agency’s budget…


February 26, 2019 - IMFnews

SFIG Chief Michael Bright Shrugs Off GSE Reform Talk

Former Ginnie Mae chief Michael Bright: “These decisions have not been made..."


February 25, 2019 - IMFnews

Short Takes: Kushner Getting Cushy with Fannie and Freddie? / Working with Lenders, Not Property Owners / Prepayments Fall to 18-Year Low / More Funding for Better.com

A Freddie spokesman confirmed to us what we’ve always assumed: “We are not a primary lender.”


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