George Brooks

Golden First Owner Banned from Government-Related Mortgage Business

January 5, 2015

In addition to the $36 million judgment against Golden First, Movtady was ordered to pay a $300,000 penalty within six months.

Short Takes: PennyMac Gets Hike on Repo Line / More on Ocwen’s Erbey / Rep. Royce Will Try to Stop the GSE Housing Trust Fund Contributions / What the New VA Loan Limits Mean

December 30, 2014

George Brooks and Paul Muolo

A spokesman for Royce recently told IMFnews that the Congressman will look “to get something through the 114th Congress to put a stop to this…”

FHA MMIF Will Get $300MM From SunTrust Settlement

December 17, 2014

George Brooks

When settlements are first reported rarely does the money change hands right away.

Finally 3Q Tally for MI Industry: New Premiums Up 9.8 Percent

December 16, 2014

George Brooks

Based on the upward production trend over the last three quarters, it appears the private MIs are on their way to a strong close at year-end.

Funding for FHA’s HAWK Initiative Killed, Higher Premiums Nixed Too

December 11, 2014

George Brooks

A proposed FHA administrative fee as high as 4 basis points to fund quality assurance enforcement and technology upgrades also went down in flames.

Short Takes: Mortgage M&A Trend Hits Utah / GSEs Can’t Pass On the Cost to Lenders / No More Flips With FHA Loans / A Nice Dividend From PennyMac / A Coming Refi Boom? Yes or No?

December 11, 2014

George Brooks, Brandon Ivey, and Paul Muolo

But there's one little wrinkle: the GSEs cannot pass the cost of funding the HTF onto lenders…

Waiver of Condo Approval Requirements Extended by FHA Until August 2016

December 11, 2014

George Brooks

The FHA temporary waiver was issued in November of last year and now has been extended to Aug. 31, 2016.

HUD Inspector General: FHA Accounting on Legal Recoveries Sloppy

December 9, 2014

George Brooks

Because of the irregular nature of legal settlements and contractor backlogs, the FHA did not properly recognize its receivables, the IG said.

Industry to Senate Committee: You Want to Charge Us For What?

December 7, 2014

George Brooks

The provision, expected to raise $30 million for FHA quality assurance efforts, would allow the Department of Housing and Urban Development to charge a fee of no more than 4 basis points.

Private MIs on Front-End Risk Transfers: Bring it On

December 5, 2014

George Brooks

Mortgage insurers are interested in moving forward with a year-old MBA proposal for a risk-sharing program that would allow deeper MI coverage on loans with high loan-to-value ratios.

Articles by George Brooks

Golden First Owner Banned from Government-Related Mortgage Business

Short Takes: PennyMac Gets Hike on Repo Line / More on Ocwen’s Erbey / Rep. Royce Will Try to Stop the GSE Housing Trust Fund Contributions / What the New VA Loan Limits Mean

FHA MMIF Will Get $300MM From SunTrust Settlement

Finally 3Q Tally for MI Industry: New Premiums Up 9.8 Percent

Funding for FHA’s HAWK Initiative Killed, Higher Premiums Nixed Too

Short Takes: Mortgage M&A Trend Hits Utah / GSEs Can’t Pass On the Cost to Lenders / No More Flips With FHA Loans / A Nice Dividend From PennyMac / A Coming Refi Boom? Yes or No?

Waiver of Condo Approval Requirements Extended by FHA Until August 2016

HUD Inspector General: FHA Accounting on Legal Recoveries Sloppy

Industry to Senate Committee: You Want to Charge Us For What?

Private MIs on Front-End Risk Transfers: Bring it On

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