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Inside Mortgage Finance

January 10, 2019

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Private MI Volume Slumped in 4Q18 Fannie/Freddie MBS

The flow of conventional mortgages with private mortgage insurance coverage into Fannie Mae and Freddie Mac mortgage-backed securities fell sharply in the fourth quarter – tracking a broader slump in purchase-mortgage business. [Includes three data charts.] Read More

Seterus Deal Marks the Start of a Busy MSR Sales Season

Just days into the new year, Mr. Cooper agreed to buy Seterus and its $48.0 billion servicing platform. Now comes the big question: Which firm or portfolio is next on its hit list? Read More

As Business Slows, Lenders Cut Branches, Channels

It was a busy week for channel and branch disgorgements with two national lenders announcing transactions they hope will prepare them for a difficult market in 2019. Read More

Optimism on Rate Decline Snuffed Out by Shutdown

The steady decline in interest rates over the past four weeks had begun to spark a tinge of optimism among mortgage bankers that 2019 might turn out to be halfway decent after all. Then the government shutdown happened. Read More

Lender Not Liable for Servicer’s RESPA Violation

Lenders are not liable for a servicer’s failure to comply with the Real Estate Settlement Procedures Act, according to a recent ruling by the U.S. Court of Appeals for the Fifth Circuit. Such claims by borrowers have seen some success in district courts and this was the first time an appeals court considered the issue. Read More

Mortgage Collectives Boost Membership in 2018

Memberships in mortgage collectives increased in 2018, despite a tough operating environment, as the firms offered various benefits to lenders. Read More

GAO Says CFPB Lacks Process to Prioritize Risks

The Consumer Financial Protection Bureau needs a systematic process to prioritize consumer risks and focus its resources to address them, the Government Accountability Office said in a new report. Read More

Otting Takes Charge as FHFA Acting Director

Joseph Otting, the comptroller of the currency, added the title of the Federal Housing Finance Agency acting director to his brief this week, effectively bringing the Mel Watt era at the agency to an end. Read More

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