Securitization ‘Fallback’ Lingo Drafted for the End of LIBOR June 11, 2019 Brandon Ivey Tom Wipf of Morgan Stanley: "It’s time that all market participants transition their products away from U.S. dollar LIBOR where possible..."Read More
Ginnie Mae Exploring ‘Non-Traditional’ MSR Ownership June 11, 2019 Paul Muolo Ginnie, it seems, is looking for assurances from “capital providers,” whomever they may be… Read More
Short Takes: Are the GSEs SIFI? It All Depends / No Witness List Yet for the Hearing / Phillips’ Replacement? / An M&A Deal Among Vendors / GAO Weighs in on Carson’s Spending Habits June 10, 2019 Paul Muolo Is the vendor sector ripe for M&A activity?Read More
Mortgage Servicing Reg Relief, Too Little and Too Late? June 7, 2019 Brandon Ivey The rule increases the amount of mortgage servicing assets a bank can count toward Tier 1 capital... Read More
The Treasury GSE Contract Could Be Worth $100 Million June 7, 2019 Paul Muolo One of the biggest mysterious surrounding the process is whether Treasury has issued a request-for-proposal regarding the assignment...Read More
Short Takes: A Fannie-Freddie IPO? Not So Fast / $20 a Share? / When in Doubt, Pick the White Guy Category / If Cordray Was Running the CFPB… / New Hires for Waterstone, LoanLogics June 6, 2019 Paul Muolo If Democratic-appointee Richard Cordray was still in charge at the CFPB would the Freedom Mortgage fine be larger?Read More
In Trying to Prevent a ‘Hard Stop,’ Freedom Mortgage Runs Afoul of HMDA June 6, 2019 Yemeng Yang The CFPB said the practice was not limited to a specific location, loan officer or time period...Read More
Short Takes: A Refreshing Assessment from Freddie’s Don Layton / Hey, Let’s Build an AU System Everyone Can Use (Maybe Not) / FHFA Pulls the Plug on Rate Survey / Booming Loan Originations. However… / CHLA Hires Industry Vet Willison June 5, 2019 Paul Muolo Freddie CEO Don Layton: "People tell me, ‘Well, let’s have a common AUS that everyone can use.’ My only data point on that is that to have a common system on the backend for the security (UMBS) took seven years and $2 billion to build…”Read More
CFPB Issues Warning on Loan-Closing Scams June 5, 2019 Yemeng Yang The agency said if a scam is suspected, the customer should contact the bank or wire-transfer company immediately...Read More
Short Takes: A Lower Production Read on LOs / FHFA Chief Weighs in On Affordable Housing Creation / Thinking About What Gordon Gekko Once Said / Civic Launches Correspondent Initiative / Wholesale v. Correspondent June 4, 2019 Paul Muolo and Brandon Ivey If only we had more GSE charters...Read More
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