National Mortgage News

Regulation

'Corker Main Hurdle for Confidentiality Bill'

Despite strong bipartisan support, a bill that would provide banks greater assurance of confidentiality when they provide information to the Consumer Financial Protection Bureau remains mired in the Senate. Exactly why is hard to unravel, but most industry representatives point to Sen. Bob Corker as the chief roadblock.

Risk Management

CFPB: TPO Concerns Will Be Heard in New Comp Rulemaking

A federal official told a group of third-party origination professionals angered by new proposed compensation and pricing restrictions that the Consumer Financial Protection Bureau would listen to their concerns and could still possibly change the proposals in line with them.

13 Questions Romney Needs to Answer on Financial Regulation

Mitt Romney has participated in numerous debates and sat for scores of interviews since launching his campaign for president, but nearly a year later, he's still maddeningly vague about his views on financial policy.

Big Layoffs at Allonhill in Wake of OCC Contract Dismissal

Allonhill, which lost a consulting contract with the Office of the Comptroller of the Currency, has given layoff notices to dozens of employees.

Fed Governor Duke: Don’t Expect Mortgage Bankers to Loosen Credit

A Federal Reserve governor told a Realtors meeting that lenders are nearly as capacity constrained today as they were during the 2003 refinancing boom, even though current loan volume is about one-third of that record year.

CFPB Founder Warren Calls for New Version of Glass-Steagall

Mortgage Rescission Case Could Fuel Further Foreclosure Delays

Wall Street Says Greed, Not CDOs, Killed Florida Credit Union

Analysts Give HARP Reform Bill Slim Chance of Becoming Law

Obama Travels to Nevada to Tout Refinancing Plan

CFPB Strives for Bank, Nonbank LO Parity, But Falls Short

Donovan Calls for Quick Action on Underwater Refi Expansion

GSE Scorecard Reveals FHA’s Plans to Collect Appraisals

The Federal Housing Administration will begin collecting full, electronic appraisal reports for the mortgages that it insures.

Technology

Origination

FHFA Ties UMDP Deadlines to GSE Executives’ Pay

The FHFA has created a financial incentive for executives at Fannie Mae and Freddie Mac to ensure that deadlines for the Uniform Mortgage Data Program are met.

Technology

Origination

Apartments America Owners Charged by SEC For Defrauding Investors

The owners of a Los Angeles-based real estate company were charged last week by the Securities and Exchange Commission with violating antifraud and securities registration provisions by defrauding investors through a business that had false track records.

Risk Management

REO

Republicans Rejoin Debate on Writedowns

In a letter to the Federal Housing Finance Agency, the top Republicans on the House Financial Services Committee posed a series of questions that highlight some of the possible downsides of allowing writedowns.

HARP Humming, But Is There Room to Grow?

The Home Affordable Refinancing Program is designed to reach borrowers that have little or no equity in their homes.

Servicing

More Players, Tighter Rules

There is a dichotomy that has developed in the warehouse lending marketplace, said one industry consultant. There are more of these lenders around than a few years ago. But they are looking to make credit available only for loans that fit their overlays.

Origination

Ed DeMarco Is Just Doing His Job

Proponents of principal forgiveness are certainly well-intentioned and cannot be faulted for seeking opportunities to help troubled borrowers.

A Wholesaler in Trouble and on the Wells Exclusionary List?

A certain fast-growing nonbank wholesaler has landed on Wells Fargo’s “exclusionary” list and is also about to be bounced from what’s left of Citigroup’s correspondent program.

Origination

Servicing