The Lede
News and Trends
CFPB to Consider Debt Collection Practices Overhaul
The Consumer Financial Protection Bureau yesterday outlined proposals under consideration that would overhaul the debt collection market by capping collector contact attempts and by helping to ensure that companies collect the correct debt.
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Q&A with Wade Hamby of The Stonehill Group
Company's National Director of Sales/Marketing Discusses TRID, Outsourcing
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MBA Chart of the Week: Servicing Costs per Loan: Performing v. Non-Performing
Servicing Costs Remain Elevated Compared to Pre-2012 Levels
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MBA News
MBA Education Beyond Best Execution–The Importance of GSE Approval Webinar Aug. 3
Webinar Explores Why Having Fannie Mae/Freddie Mac Approval More Important Than Ever
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Top National News
Radian Grows New Mortgage Insurance Written 60% in Q2
HousingWire, July 28, 2016--Ramirez, Kelsey
Most goes to borrowers with high FICO scores.
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How to Restore Humanity to Loss Mitigation
National Mortgage News, Aug. 1, 2016--Smith, Rick
Mortgage servicers should invest in the right technology platform.
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U.S. Mortgage Insurers Names New Chairman
DS News, Aug. 1, 2016
MGIC CEO Patrick Sinks had served as vice chair.
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Mortgage Principal Forgiveness Policy Is a Bad Idea
Heritage Foundation, Aug. 1, 2016--Ligon, John
Author says forgiveness gives undue advantage to Fannie Mae, Freddie Mac.
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Brexit Credited With New Refi Boom
National Mortgage Professional, Aug. 1, 2016--Hall, Phil
Brexit spurs new interest in "safe" U.S. Treasury bonds.
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1 Million-Plus More Homeowners Can Benefit from Refi Post-Brexit
CNBC, Aug. 1, 2016--Olick, Diana
Drop in mortgage rates have borrowers rushing back to the bank.
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Two Harbors Bailing on Jumbo Bonds Already Impacting Mortgage Market
HousingWire, July 29, 2016--Lane, Ben
NYCB Mortgage says it will suspend jumbo fixed 30-year program.
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Quicken Loans Tops J.D. Power Survey on Mortgage Services
Crain's Detroit Business, July 29, 2016--Henderson, Tom
Huntington Bank ranks second.
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CFPB Punts on TRID Errors, But Offers Plenty More for Lenders
National Mortgage News, July 29, 2016--Berry, Kate
Update does not give lenders ability to correct errors after loan has closed.
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New York Launches Reverse-Mortgage Probe
New York Post, July 29, 2016--Curan, Catherine
Two mortgage firms targeted by Department of Financial Services.
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Home-Equity Borrowing Rebounds, But Homeowners Show More Discipline
Columbus Dispatch (Ohio), July 29, 2016--Weiker, Jim
Banks are pitching specials and teaser rates to draw borrowers.
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CFPB Will Update Know Before You Owe Rule
HousingWire, July 29, 2016--Swanson, Brena
MBA President and CEO Dave Stevens, CMB, says rule has "big impact" on borrowers and lenders.
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Primary Mortgage Servicers Need To See Customer Satisfaction As Cost-Reduction Strategy
ValueWalk, July 28, 2016
Satisfied customers translate into increased profitability.
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Arch MI Wrote $6.42B in Mortgage Insurance in the Second Quarter
HousingWire, July 28, 2016--Swanson, Brena
Net income up to $205.6 million.
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Barclays Triumphs in Toxic Mortgage Bond Row with U.S. Bank, FHFA
Housing Wire, July 26, 2016--Lane, BenU.S. Bank, FHFA Waited Too Long.
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SEC Filing Details Ocwen’s Efforts to Rid Itself of California Mortgage Servicing Restrictions
HousingWire, July 28, 2016--Lane, Ben
Ocwen moves to settle as monitor costs mount.
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Dems See Little Hope for Housing Finance Reform
National Mortgage News, July 28, 2016--McKendry, Ian
Democrats at DNC Convention say reform unlikely.
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CFPB Breaks Up Debt Collection Plan, Spares Banks for Now
National Mortgage News, July 28, 2016--Berry, Kate
Banks, credit card companies exempt for now.
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Is there Light at the End of the Tunnel for Ocwen?
HousingWire, July 27, 2016--Lane, Ben
Company takes 2nd quarter loss as it deals with "legacy" issues.
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Servicing Bad Loans Gets Trickier as FHA’s Share of Them Grows
National Mortgage News, July 27, 2016--Sinnock, BonnieFHA share up to 25% at end of 1Q.
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Choppy Waters Ahead for Maturing CMBS Loans
National Real Estate Investor, July 27, 2016--Mattson-Teig, Beth
More volatile stretch ahead as more large loans mature.
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CFPB Unveils Overhaul of Debt Collection
Wall Street Journal, July 28, 2016--Hayayshi, Yuka
Targets aggressive debt-collection practices.
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D.C. Circuit Sets October Argument in Robocall Challenge
Bloomberg BNA, July 27, 2016--Bruce, Chris
MBA among groups challenging how regulators treat "robo-calls."
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Fannie Eases Requirements for HomeReady Program
National Mortgage News, July 26, 2016--Collins, Brian
Relaxed counseling requirements to help additional borrowers qualify.
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Fannie Mae: Mortgage Industry Isn’t Even Close to Done with Tech Innovation
Housing Wire, July 26, 2016--Swanson, BrenaCould require a disruptor such as Uber.
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Freddie Mac Names Winner of First Structured Loan Sale
National Mortgage News, July 26, 2016--Passy, JacobReached a binding commitment with Chimera Investment Corp.
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Deutsche Bank Has Started U.S. Mortgage Settlement Talks
Bloomberg, July 27, 2016--Finch, Gavin
Nears agreement with Justice Department over mortgage-backed securities.
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