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April 20, 2017

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Agency Servicing Continues to Grow – Nonbanks Increase Holdings by Almost 22 Percent

Nonbanks serviced $2.418 trillion of agency loans at the end of the first quarter, up 21.6 percent from a year ago… Read More

CFPB Suggests Lenders are Making Billions Because Borrowers Aren’t Effectively Shopping for a Mortgage

The agency estimates that collectively, borrowers are missing out on $13.0 billion per year in foregone savings… Read More

MBA Issues 60-Page Report on Reforming Fannie and Freddie

The trade group first launched its GSE task force in late 2012 with 17 initial executive members, including Bob Ryan, a Wells Fargo executive who is now the acting deputy director of the division of conservatorship at the Federal Housing Finance Agency. Read More

Discussion Draft of CHOICE Act 2.0 Would Make Multiple Changes to CFPB, Mortgage Lending

The measure also would allow a recipient of a civil investigative demand to appeal the order to the U.S. District Court system… Read More

ABA: Small Banks Reducing their Share of Non-QM Loans

Most of the banks’ non-QMs received that designation due to high debt-to-income ratios. Read More

Short Takes: Fix-and-Flip Lender Ready to Employ Loan Brokers / Habib Says Rates Will Head Higher / Megabanks Looking at Nonprime Whole Loan Buys? / The Consumer Law Enforcement Agency? / Ditech’s MSR Reduction

We understand that some surprising names are beginning to show up at auctions for nonprime, non-agency whole loans... Read More

The CFPB and Florida Take Action Against Nation’s 10th Largest Servicer Ocwen; Share Price Gets Crushed

Ocwen added: “The substantive allegations in today’s suit are inaccurate and unfounded.” Read More

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