FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
W S

Articles by Sarah Wheeler

From HW Magazine

TILA-RESPA: Tick, tick, boom

As the clock counts down to TILA-RESPA implementation, title, closing and settlement services step into the line of fire
Sarah Wheeler
“We fear many lenders and title agents have been preconditioned by history to believe these changes are simply form changes, will be reversed, or the date will be moved — let alone implement an actual solution,” said Mark McElroy, president and CEO of Pavaso.
Read More

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution
Sarah Wheeler
"Today we reached a confidential settlement of the contempt motion in the case of Move, Inc. et al. vs. Zillow, Inc. et al. While we cannot reveal its details, we're absolutely thrilled with the result, and now it's full-steam ahead with the prosecution of this litigation.."
Read More
From HW Magazine

Hot Seat: Darius Bozorgi

President and CEO of Veros discusses the latest in automation
Sarah Wheeler
The recently announced FHA premium reductions would lead one to reasonably anticipate an increase in volume. EAD will give FHA 100% diligence on all submitted appraisals, which allows FHA to engage in these types of policies, knowing it has the systems and tools in place to identify and manage risk.
Read More
From HW Magazine

The CFPB needs a regulator of its own

Why is it OK for the bureau to violate the standards it imposes on others?
Sarah Wheeler
Nothing reeks of hypocrisy more than the regulator ignoring regulations, but the CFPB has racked up plenty of violations in the last year. And we’re not talking about small, nitpicky examples, but instances that have real-life consequences. If a lender or servicer were to violate any of these standards, they could expect swift and harsh punishment from the CFPB.
Read More

Lawsky announces 3 new areas of enforcement

NYDFS superintendent unveils plan at Columbia School of Law
Sarah Wheeler
NYFDS Superintendent Benjamin Lawsky spoke about financial regulation at Columbia Law School today and outlined three new areas his office will be looking at.
Read More

MBA Servicing: Compliance hijacks the cost of servicing

Adapting means scaling up personnel, technology
Sarah Wheeler
A panel at the MBA Servicing Conference on containing the cost of servicing made one thing very clear — it's all about compliance.
Read More

Executive Conversation: Patrick Nackley on FHA default resolution

Superior Home Services focuses on remediation
Sarah Wheeler
We are not a property preservation company. Our program is tailored specifically to FHA conveyance obligations, and is unique in the default industry in that regard."
Read More

Executive Conversation: Milt Shaw on leadership and vendor management

PEMCO Limited meets compliance challenges head on
Sarah Wheeler

As an AMC, compliance with regulations is a critical component to success. We maintain strong relationships and continuously outperform our competitors. Regulations differ from state to state so we decided to grow slowly and concentrate in building a strong client foundation in California prior to evaluating opportunities in other states.


Read More

S&P settles with SEC for $58 million over bond ratings fraud

First action against one of the big three ratings firms
Sarah Wheeler

“Investors rely on credit rating agencies like Standard & Poor’s to play it straight when rating complex securities like CMBS,” said Andrew J. Ceresney, director of the SEC Enforcement Division. “But Standard & Poor’s elevated its own financial interests above investors by loosening its rating criteria to obtain business and then obscuring these changes from investors."


Read More

President Obama: No more housing initiatives

Middle class focus and praise for increased regulation
Sarah Wheeler

"We believed that sensible regulations could prevent another crisis, shield families from ruin, and encourage fair competition. Today, we have new tools to stop taxpayer-funded bailouts, and a new consumer watchdog to protect us from predatory lending and abusive credit card practices."


Read More