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IMFnews

August 8, 2017

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PHH Enters Into Settlements with DOJ, FHFA to Settle Underwriting Issues Tied to Legacy Loans

PHH said it settled the cases without admitting liability “to avoid the distraction and expense of potential litigation.” Read More

Loans in New ‘Nonprime’ MBS Look like ‘Alt A’ Loans Really

In fact, some of the underwriting characteristics on new nonprime loans are even stronger than the credit quality on pre-crisis Alt A mortgages… Read More

Trade Groups Call on CFPB to Address the GSE ‘Patch’ One Way or Another

The Consumer Mortgage Coalition and MBA separately recommend replacing the GSE patch with a more transparent set of criteria… Read More

Movement Mortgage CEO Rebrands His New Bank as, You Guessed It, Movement Bank

According to Casey Crawford the recapitalized depository will focus on “loving and serving people.” Read More

Utah-Based Nonbank Nixes Purchase of Ron McCord’s FMC After Lawsuit is Filed

Among other things, CapLoc – an affiliate of Eli Global – charges that FMC pledged “ineligible” mortgages as collateral… Read More

Short Takes: CapLoc Affiliate Wanted to Buy FMC / Two Sides to a Story / MBS is Busy with M&A Deals / FRB Distinguishes Itself in Jumbo Market / Vendor Watch

Advisory firm Mortgage Banking Solutions, Austin, TX, is working on three mortgage-related acquisitions... Read More

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