The Mortgage Bankers Association and the Community Home Lenders of America are on opposite sides of the debate about allowing the GSEs to waive the requirement for lender’s title insurance.
Regulators were aware that the three regional banks that failed last year had large amounts of uninsured deposits and high exposure to FHLBank advances.
The Federal Housing Finance Agency has long supervised the GSEs’ management of third-party risk from nonbank mortgage companies. But now for the first time it is examining nonbanks directly.
In granting the injunction decree, the court noted that there’s a “substantial likelihood” the trade associations will ultimately succeed in their challenge against the CRA overhaul.
The MBA has called on federal agencies to ensure there is no disruption in the mortgage process stemming from the National Association of Realtors’ decision to settle a lawsuit related to agent commission practices.
Hunterbrook Capital is going after United Wholesale Mortgage, lobbing allegations and shorting stock in the nonbank; Michael Barr, vice chair for supervision at the Fed doesn’t find the rhetoric regarding bank capital requirements particularly useful; Ocwen plans to rebrand as Onity.
The Urban Institute, with funding from the National Fair Housing Alliance, has developed resources lenders can use to launch special purpose credit programs.
Don Layton applauded FHFA’s plans to reform the FHLBanks, arguing that it will take strong, independent supervision to prevent them from exploiting their government subsidy for private gain.
The CFPB is looking at various closing costs, raising concerns about a lack of competition. Trade groups representing mortgage lenders stress that closing costs are adequately disclosed and well regulated.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS