CFPB Active Again in Enforcement Actions. 23 Cases Being Litigated August 8, 2018 Yemeng Yang A spokesperson told Inside the CFPB the agency’s office of enforcement is now “actively litigating 23 cases.”Read More
Another Record Non-QM Production Quarter for Citadel. 2018 Production Could Top $1.8 Billion August 8, 2018 Paul Muolo At the end of July, Citadel serviced $1.75 billion of non-QMs…Read More
Redwood Reports Lower Earnings, but a Rise in Loan Purchases August 8, 2018 Paul Muolo At June 30, Redwood held $5.5 billion of residential loans on its books, up 40.6 percent from a year ago.Read More
Industry Seeks Update from Banking Regulators on Basel, Tier I Capital and MSRs August 8, 2018 George Brooks At the very least, the MBA wants a timeframe from the regulators…Read More
Nonbank Market Share of Ginnie MSRs: 59.9 Percent and Growing August 7, 2018 John Bancroft Wells Fargo’s agency servicing volume dropped by $9.4 billion…Read More
Lobbying on the GSE Issue Moves from Congress to the Executive Branch August 7, 2018 Paul Muolo Earlier this year, Treasury Secretary Steven Mnuchin told the Senate Banking Committee he has the authority to restructure Fannie and Freddie without any change in law.Read More
PHH Continues to Sell Servicing Rights Ahead of Sale to Ocwen August 7, 2018 Paul Muolo In its earnings statement, PHH notes that Ocwen can terminate the acquisition if “available cash on hand falls below a prescribed amount…”Read More
Short Takes: R-E-S-P-E-C-T is What loanDepot CEO has for Zillow / Houlihan Lokey Advised Zillow / Shellpoint Shines / MBA Likes the Sandbox / A Handful of Promotions at PRM August 7, 2018 Paul Muolo and Yemeng Yang Anthony Hsieh of loanDepot: “Relax everyone. Competition is good." Read More
Secondary Market in Servicing Rights Gained Momentum in 2Q18 August 6, 2018 John Bancroft In 2Q18, there was a huge increase in bulk Fannie MSR transfers…Read More
Wells Fargo Says It’s ‘Very Sorry’ About Calculation Error that Led to Foreclosures August 6, 2018 Paul Muolo Wells Fargo: “As a result of this error, approximately 625 customers were incorrectly denied a loan modification..." Read More
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