Browse articles from all of our Newsletters related to Regulations.

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 - Inside FHA/VA Lending

Aging Housing Stock Increases Demand for VA Alteration Loans

Lenders will now be able make VA loans to veterans who wish to purchase or refinance a home that needs alteration or repair, under new guidance issued by the VA. According to the VA, it has received inquiries from lenders that have expressed interest in originating and processing loans to finance home alteration and repair. The agency noted that the aging housing stock in the U.S. has spurred an increased demand for such loans. Due to their physical condition, older homes are often sold as “cash or conventional financing,” which immediately excludes VA financing and deprives veterans the opportunity to use their VA benefit. The new policy guidance makes the VA guaranty available to lenders looking to finance home alteration, repair, renovation and improvement. It also allows improvements to be included in the value and completed after the loan is closed. The lender disburses the loan proceeds to the ...

April 20, 2018 - Inside FHA/VA Lending

House Bill Introduced to Ensure Compliance with Loss-Mit Rules

Legislation was introduced this week in the House Financial Services Committee that would strengthen oversight of FHA mortgage servicers to ensure their compliance with the agency’s loss-mitigation requirements. The FHA Foreclosure Prevention Act of 2018 (H.R. 5555) would require the Department of Housing and Urban Development to conduct servicer oversight, including sampling, compliance reviews, and direct information collection from borrowers whose files were sampled. “A decade after the devastating foreclosure crisis, we continue to see significant problems with the servicing of FHA loans that unnecessarily put homeowners at risk of foreclosure,” said Rep. Maxine Waters, D-CA, ranking member on the committee and sponsor of the bill. Waters said her bill would ensure that FHA servicers help families experiencing financial hardships avoid foreclosure so that they can ...

April 20, 2018 - Inside FHA/VA Lending

Ginnie Mae Mulls ‘A-Tier’ Issuer Rating to Raise Nonbank Liquidity

Ginnie Mae is considering a tiered rating system to ensure that all participants in its mortgage securities program have sufficient liquidity and capital to meet their counterparty obligations. The agency is still fleshing out the idea of an “A-tier” issuer, which would likely develop into a policy in the near future, said Michael Bright, executive vice president and chief operating officer, during a recent interview with Inside FHA/VA Lending. “An A-tier issuer would be [a company that] has gone above and beyond in helping put together for us a risk management and liquidity plan that does not rely on liquidity providers, and whose defect and cure rates are low,” he explained. Such issuer/servicers also would be well capitalized. Ginnie is developing the metrics for such a system, as well as incentives for the A-tier issuers, Bright said He added that top-rated firms would be eligible for “concierge services” from the ...

April 20, 2018 - Inside FHA/VA Lending

VA Announces Effort to Convert VALERI to Fully Operational AUS

A general overhaul of the Department of Veterans Affairs’ Loan Electronic Reporting Interface is underway to convert it into a full service, end-to-end system capable of handling every phase of the loan process. Work on VALERI began in 2017, with the aim of integrating all business lines – loan origination, property valuations, and mortgage servicing – into what VA officials view as an automated underwriting system. “We are potentially looking at the redesigned VALERI as an automated underwriting system, an end-to-end system designed to better serve veterans and their families, lenders, servicers and appraisers,” said Jeff London, director of the VA Loan Guaranty Service (LGS), during an interview at the recent VA lender conference in Miami. The VALERI application has been used solely for servicing for the last 10 years. Since 2008, on a monthly basis, servicers have been uploading electronic data ...

April 20, 2018 - Inside FHA/VA Lending

VA’s Loan Guaranty Chief Says Anti-Churning Rule Under Review

The Department of Veterans Affairs has drafted a proposed rule to curb predatory loan churning. The draft rule is “well on its way through concurrence with VA and the Office of Management and Budget,” said Jeff London, director of the VA Loan Guaranty Service, during an interview at the agency’s 19t Annual Lender Conference in Miami recently. He did not specify a publication date but said the proposed rule will be published “fairly soon.” Churning, or serial refinancing, involves multiple refinances of the same loan within short periods with no clear benefit to the borrower. In addition, churning triggers rapid prepayments in Ginnie Mae mortgage-backed securities to the detriment of investors and makes it difficult to price MBS appropriately. London declined to provide details about the rule’s content but said veterans and taxpayers would be protected. VA looked at a range of things that were common in the ...

April 20, 2018 - Inside FHA/VA Lending

VA Share in Gov’t-Backed Servicing Continued to Grow in Early 2018

The Department of Veterans Affairs home-loan guaranty program continued to account for most of the growth in the Ginnie Mae servicing business during the first quarter of 2018, a new Inside FHA/VA Lending analysis reveals. Total Ginnie mortgage-backed securities outstanding rose to $1.940 trillion as of the end of March, including multifamily MBS and securities backed by FHA reverse mortgages. Some $1.795 trillion of that amount was traditional single-family mortgages, a 1.1 percent increase from the end of last year. The forward-mortgage Ginnie market grew by 7.3 percent over the past 12 months. The amount of VA loans in Ginnie pools was up 13.1 percent from March 2017, nearing the $600.0 billion mark. By comparison, the FHA segment of the Ginnie market was up 4.7 percent from a year ago, hitting $1.085 trillion. Loan performance generally improved in both the ... [Charts]

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…

April 17, 2018 - IMFnews

Short Takes: Bank of America Kisses Mortgage Banking (Reporting) Goodbye / When MSR Cash Flow Becomes ‘Immaterial’ / The Eye of the Beholder / Tossing Mortgage Stuff Overboard / Redwood on an MBS Hot Streak / Leaving loanDepot for Impac

Is Bank of America doing a slow fade on mortgages?

April 17, 2018 - IMFnews

Now in the Works: A ‘State Level’ CFPB (Thanks to Mulvaney?)

The Garden State is following in the footsteps of Pennsylvania, which created a Consumer Financial Protection Unit last July and hired a former CFPB attorney to lead the initiative.

April 16, 2018 - Inside the CFPB

Other News in Brief: CFPB Commission; Consumer Website; African Americans in CFPB

Trade Groups Wrote to Support a CFPB Commission. Twenty-three trade organizations representing the financial services industry, including the American Bankers Association and Mortgage Bankers Association, last week wrote to Congress to support legislation that would change the CFPB’s leadership structure from a single director to a bipartisan commission. The letter was sent to Reps. Dennis Ross, R-FL, Kyrsten Sinema, D-AZ, David Scott, D-GA, and Ann Wagner [Includes four briefs] ...

April 16, 2018 - Inside the CFPB

Complaints About Credit Reports Surged in First Quarter

Consumer complaints to the CFPB jumped in the first quarter, with a major surge in the area of credit reports, according to a new analysis by Inside the CFPB. Overall, total gripes to the bureau rose 22.9 percent from the fourth quarter of 2017 to the first quarter of 2018, and 11.0 percent year over year. Criticism about credit reports leapt by 120.3 percent from a year ago to 28,283, a 26.0 percent increase from 4Q17 to 1Q18. Experian ranks 1st by the number of [includes exclusive data chart] ...

April 16, 2018 - Inside the CFPB

CFPB Seeks Input on Financial Education and Complaints

The Consumer Financial Protection Bureau released its last two requests for information – one on financial education programs and another on the handling of consumer complaints and inquiries. Acting Director Mick Mulvaney has said before that consumer education would be one of the bureau’s priorities. In his testimony before the House Financial Services Committee last week, Mulvaney reiterated that he will pay more attention to financial education ...

April 16, 2018 - Inside the CFPB

Judges Raise Questions Over Mulvaney’s OMB Hat

Judges of the U.S. Court of Appeals for the D.C. Circuit late last week expressed concerns that Mick Mulvaney, who heads the Office of Management and Budget, would threaten the independence of the CFPB. A three-judge panel heard oral arguments in English v. Trump, a case challenging Mulvaney’s appointment by President Trump as acting director of the CFPB. Leandra English, named the bureau’s deputy director by former Director Richard Cordray before he left ...

April 16, 2018 - Inside the CFPB

Payday-Lending Trade Groups Sue the CFPB to Repeal Its Rule

Two payday-lending trade groups filed a lawsuit against the CFPB, seeking to invalidate the bureau’s payday lending rule and challenge its constitutionality. The Community Financial Services Association of America and the Consumer Service Alliance of Texas alleged that the agency’s payday lending rule, titled “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” violates the Administrative Procedure Act. The two groups said the final rule was based on “unfounded” presumptions of consumer harm ...

April 16, 2018 - Inside the CFPB

Nonbank Group Asks CFPB To Tailor Regulations

The Community Home Lenders Association called for regulatory streamlining for smaller independent mortgage bankers in a comment letter to the CFPB in response to its request for information on enforcement and supervision. The CHLA, which claims to be the only national association that exclusively represents IMBs, said the bureau should reduce burdens and compliance risks faced by IMBs “through targeted CFPB exam and enforcement exemptions.” Under current law, every nonbank ...

April 16, 2018 - Inside the CFPB

CFPB and OCC Seek $1 Billion Settlement From Wells Fargo

The CFPB and the Office of the Comptroller of the Currency are seeking an aggregate of $1 billion from Wells Fargo to settle abuse allegations tied to its auto lending and home mortgage businesses, the megabank disclosed in its first quarter 2018 earnings report late last week. The auto lending violations center on collateral protection insurance policies the bank sold to customers between October 2005 and September 2016. Wells estimated $145 million in cash remediation and $37 million ...

April 16, 2018 - Inside the CFPB

Personal Showdown: Sen. Warren Faces Off With Mulvaney

After rounds of exchanging increasingly nasty letters, Sen. Elizabeth Warren, D-MA, finally got a face-to-face opportunity to question Mick Mulvaney, the acting director of her brainchild – the CFPB. In Mulvaney’s testimony before the Senate Banking, Housing, and Urban Affairs Committee last week, Warren turned her five-minute questioning time into a passionate speech generally claiming that Mulvaney is hurting the American people “Here’s what you don’t get, Mr. Mulvaney – this isn’t about me,” Warren said ...

April 16, 2018 - Inside the CFPB

Mulvaney Gives Pay Raises to Political Appointees

Staffers hired by Acting Director Mick Mulvaney saw major pay raises from their previous employment. The agency chief also asked Congress to change the pay system established by the Dodd-Frank Act. Since Mulvaney took over the bureau in November 2017, he has hired eight political appointees and four of them are paid more than $250,000 a year, according to salary records obtained by various media. “I can’t tell you the number of folks I know on the Hill, the number of folks I know in the White ...

April 16, 2018 - Inside the CFPB

Mulvaney Before Congress: the GOP Loves Him, the Dems Do Not

The nature of the CFPB is completely in the eyes of the beholder. In hearings on Capitol Hill last week, Acting CFPB Director Mick Mulvaney was grilled by Democrats while Republicans praised his efforts to reform the bureau. Mulvaney appeared before the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee last week to testify on the CFPB’s semi-annual report. The major changes he proposed included: giving Congress authority to approve ...

April 16, 2018 - Inside the CFPB

States Set to Fill the CFPB Vacuum to Protect Consumers

States are dedicating more resources for consumer protection in financial services to fill the vacuum of a potentially less aggressive CFPB. New Jersey Attorney General Gurbir Grewal, D, recently said in a press release that he and Gov. Phil Murphy, D, will “fill the void left by the Trump administration’s pullback of the Consumer Financial Protection Bureau,” and create what they referred to as a “state-level CFPB.” Murphy will name Paul Rodriguez as the director of the New Jersey Division of Consumer Affairs ...

April 16, 2018 - IMFnews

Short Takes: Watt Looks Back / Will Trump Shock the Mortgage Industry and Give Him Another Term? / LenderLive Buys Vendor, More Deals in the Works? / A New Director for Freddie Mac

Watt’s term expires in early 2019. President Trump is not expected to nominate him to another term. Then again...

April 16, 2018 - IMFnews

Early 2018 Brings More Volatility to GSE Single-Family Rivalry

In early 2018 both GSEs were under orders from the Federal Housing Finance Agency to set g-fees that meet a “minimum return on equity…”

April 13, 2018 - Inside The GSEs

FHFA Proposes to Amend Regulations, Seeks Input

The Federal Housing Finance Agency is proposing to amend its regulations on the responsibility of the board, directors, corporate practices, and corporate governances for the GSEs and Federal Home Loan Banks. It also would apply the FHLB strategic business plans to Fannie and Freddie. This means that the GSEs’ boards would have a strategic business plan in effect at all times, which describes how the regulated entity will achieve its statutory purposes. Moreover, there’d be a provision that requires each GSE board to review the strategic plans annually, re-adopt it once every three years, at minimum, and...

April 13, 2018 - Inside The GSEs

FHFA OIG Issues Heavily Redacted Report on GSE Cybersecurity

The Federal Housing Finance Agency Office of Inspector General said the FHFA did not make sure that Freddie Mac’s plans to address cybersecurity deficiencies were sufficient. Instead, the agency questionably closed the matter requiring attention (MRA) after deciding on its own that the GSE had completed its planned remedial actions.This raised a red flag with the OIG, which said when an MRA is issued, the FHFA requires the GSE to provide a remedial plan that includes specific milestones that take into consideration the complexity of the issue and the urgency regarding the correction.

April 13, 2018 - IMFnews

What We’re Hearing: OMB Reviewing VA Anti-Churning Rule / MB Financial Shutters Mortgage Division: A Canary in a Coal Mine? / Put Your Seatbelt On / No Complaints From the Nonprime Sector / The Search for Dave Stevens Successor at MBA Narrows

Now comes the big question: How many more MB Financials are out there?

April 13, 2018 - IMFnews

A 19 Percent Drop in Residential Lending at Wells Fargo; Megabank Says Regulators Want $1B to Settle Auto and Mortgage RLC Charges

Wells said the CFPB and OCC have asked the megabank for a $1 billion settlement in the matter.

April 12, 2018 - IMFnews

Short Takes: A 10 Percent Cut in GSE Loan Limits? (Just a Thought) / Mulvaney Has Saved the CFPB $16 Million / New Rez Buys RPL Pool from Fannie / Directors for New Rez Earn How Much? / NYS Fines Nationstar (aka Mr. Cooper)

With GSE reform all but dead, rumors about possible administrative changes abound...

April 12, 2018 - Inside Mortgage Finance

VA Sends Anti-Churning Rule to OMB, Weighs Risk Sharing, Develops AUS

The Department of Veterans Affairs is close to issuing a final anti-churning rule to better protect veterans from predatory lending practices as well as developing an end-to-end system to monitor loan performance from origination to servicing.

April 12, 2018 - IMFnews

House Hearing Questions FHFA’s Oversight of Fannie, Freddie. IMAGIN?

Wertheimer testified that during her tenure, the FHFA-OIG has issued 85 reports and made 117 recommendations to address supervisory shortcomings.

April 12, 2018 - IMFnews

A Defiant Mick Mulvaney Tells Democrats: ‘I Haven’t Burnt the Place Down’

Rep. Maxine Waters, D-CA, the ranking member of the panel, would not acknowledge that Mulvaney is the head of the agency but asked him questions anyway.

April 11, 2018 - IMFnews

The CFPB’s Latest RFI: How We Doing in the Complaint Department? Meanwhile Mulvaney Testifies…

Mulvaney – a former GOP Congressman from South Carolina and a Tea Party acolyte – declared: “The Bureau’s new strategic priorities are to recognize free markets and consumer choice and to take a prudent, consistent, and humble approach to enforcing the law.”

April 11, 2018 - IMFnews

The Final Nail in the GSE Reform Coffin: Creation of the $3B Capital Buffer?

Fitch said the $3 billion reserve should be sufficient to cover income volatility during “the normal course of business, as seen when interest-rate volatility results in valuation adjustments within the GSEs’ derivative portfolios.”

April 10, 2018 - IMFnews

Short Takes: Morgan Stanley Dumps PHH Shares / Wells Fargo Doing Just Fine / What did the Megabank Do Wrong This Time? / Out of Character for Mulvaney? / Wells is Not Running a Charity / A Vote Against Being Socially Responsible / Envoy Sells TPO Unit to New Penn

In a nut shell, Wells argues it’s not running a charity (but of course) and that executive compensation is “designed to pay for performance and encourage long-term shareholder value.”

April 10, 2018 - IMFnews

GNMA Chief Confident Agency Will Win Back Investors

Bright said actions Ginnie has taken send a clear message to the industry and to investors that it is intent on eliminating the problem.

April 6, 2018 - Inside FHA/VA Lending

USDA Revises Eligibility Maps for Rural Housing Service Programs

The U.S. Department of Agriculture has announced proposed changes to the maps the Rural Housing Service uses to determine whether certain areas are eligible for its single-family and multifamily housing programs. RHS reviews the areas it covers every five years to determine which ones would be eligible for USDA home-loan guarantees. The proposed maps are based on RHS’s 2017-2018 review of data collected from the U.S. Bureau of Census 2015 American Community Survey. The ACS provides information about changes in the U.S. population, housing and workforce. The current RHS maps are based on RHS’s 2012-2013 review of the 2010 U.S. Census. The proposed maps will become effective on June 4, 2018. Properties located in areas that have been reclassified from rural to non-rural on the maps’ effective date may qualify for RHS’ housing programs if they meet certain conditions. First, the ...

April 6, 2018 - Inside FHA/VA Lending

HUD’s Pre-Foreclosure Rule Could Create Challenges for Servicers

A Department of Housing and Urban Development requirement for a face-to-face meeting has become quite a compliance challenge for lenders seeking mortgage foreclosure, according to legal experts. In Dan-Harry v. PNC Bank, a federal court in Rhode Island concluded that a borrower may bring a claim for damages and other remedies against a lender for failure to conduct a pre-foreclosure face-to-face meeting with the borrower – a requirement for breach of an FHA-insured mortgage. In an analysis of the court’s ruling, attorneys at the Chicago law firm Hinshaw & Culbertson said the decision is significant because the HUD regulation provides no private right of action. In addition, Rhode Island law does not recognize a cause of action for breach of good faith and reasonable diligence in foreclosure, they noted. Nevertheless, the legal experts pointed out that Rhode Island federal courts effectively ...

April 6, 2018 - Inside FHA/VA Lending

FHA Insured $1.9 Billion in Loans To Borrowers Barred by Fed Rules

FHA insured approximately $1.9 billion of ineligible mortgage loans made to borrowers with delinquent federal debts or who are subject to federal administrative offset for past-due child support payments, according to the Department of Housing and Urban Development’s inspector general. Approximately 9,500 loans were ineligible because the sources used by lenders to identify ineligible borrowers lacked sufficient information to raise red flags. In addition, FHA failed to guide lenders adequately in reviewing child support payments, the IG said. Federal law prohibits loans, loan guarantees or insurance to delinquent federal debtors, including those with delinquent child support subject to administrative offset, until the delinquency is resolved. Auditors drew a statistical sample of 60 loans from 13,927 FHA-insured loans that closed in 2016 and analyzed data on their related borrowers in the ...

April 6, 2018 - Inside FHA/VA Lending

FHA Streamline Refi Business Plunges in 2017; California Leads

FHA streamline refinancing fell significantly in 2017 from the previous year, according to an Inside FHA/VA Lending analysis of agency data. Lenders closed 2017 with $37.4 billion of FHA streamline refi loans, buoyed by a 12.2 percent increase in origination in the fourth quarter. However, business was down a whopping 34.5 percent year-over-year. The segment ended the first quarter strongly with, $13.05 billion, but faltered over the next nine months. Streamline refinancing accounted for 15.8 percent of total FHA originations in 2017. Twelve states, led by California, each reported FHA streamline refi originations in excess of $1 billion last year. The Golden State closed the year with $8.05 billion of FHA-to-FHA refis, which accounted for 21 percent of all FHA loans in the state last year. The highest FHA streamline refi-producers after California were, in sequential order, ... [Charts]

April 6, 2018 - Inside FHA/VA Lending

GNMA Chief Confident Agency Will Win Back Investors’ Faith, Trust

Ginnie Mae’s anti-churning efforts have narrowed the spread between Ginnie and Fannie Mae mortgage-backed securities, prompting executives to say things are almost back to normal. In an interview with Inside FHA/VA Lending this week, Michael Bright, executive vice president and chief operating officer at Ginnie Mae, said the market and investors have responded positively to the agency’s efforts to resolve the churning and prepayment problems. “The Ginnie spread has fallen almost half a point and our securities have become more liquid,” he said. “We want to make sure we’re giving investors CPRs (constant prepayment rates) that they can model.” Bright said he cares less about the overall level of prepayment speeds. What he truly cares about is ensuring that when an investor purchases a Ginnie security, the prepay speed is correlated to changes in the interest rates and not the ...

April 6, 2018 - Inside FHA/VA Lending

Issuers Punished for Churning, Barred from Multi-Issuer Pools

Ginnie Mae this week meted penalties to two of the nine issuers that received warnings from the agency for excessive refinancings of VA mortgages. Bloomberg reported that Ginnie barred NewDay Financial’s and Nations Lending’s from the more lucrative multi-issuer mortgage-backed securities pools, forcing them to issue custom pools. The restrictions became effective immediately. The agency’s action could reduce mortgage interest rates by 50 basis points for FHA and VA loans, which would benefit first-time homebuyers, said Jaret Seiberg, an analyst with Cowen Washington Research Group. On the other hand, the issuers Ginnie limited to issuing custom pools will end up making loans with higher rates, the analyst noted. Ginnie’s action is part of a joint effort with the Department of Veterans Affairs to crack down on loan churning and faster prepayments of VA loans pooled in Ginnie securities. Loan churning ...

April 6, 2018 - Inside FHA/VA Lending

Ginnie MBS Production Tumbled To Three-Year Low in Early 2018

Issuance of new single-family Ginnie Mae mortgage-backed securities fell sharply in the first quarter of 2018, according to a new Inside FHA/VA Lending ranking and analysis. The agency issued $92.58 billion in MBS backed by forward mortgages during the first three months of 2018. That was down 14.8 percent from the previous three-month period and represented the lowest quarterly total since early 2015. The 1Q figure is based on truncated loan amounts reported in Ginnie’s loan-level MBS disclosures. Reports with unrounded single-family loan amounts show a total of $95.75 billion in first-quarter MBS issuance, including FHA reverse mortgages. The loan-level data reveal that production fell 6.9 percent from February to March, when just $28.21 billion of Ginnie single-family securities were issued. That was the lowest monthly volume since February 2015. Both the FHA and VA programs saw significant ... [Charts]

April 6, 2018 - IMFnews

What We’re Hearing: Show Us the Money / A $1 Million Signing Bonus for an LO? / A Conservative, but Liberal on Pay Raises / Hensarling’s Next Job Won’t Be… / When the Chinese Worry About Prepayments / The Return of Jon Daurio?

One word for crazy signing bonuses paid to LOs: stupid...

April 6, 2018 - IMFnews

Acting Ginnie Mae Chief Michael Bright Worries about Liquidity, Big Time

Acting Ginnie Mae President Michael Bright said some of the concerns regarding nonbanks raised in a recent Brookings Institute white paper are valid…


What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.


I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.


Not bad, but he needs to take his time making additional changes.


We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!