Contracts, Invoices & Legal

The Consumer Financial Protection Bureau and its union filed legal briefs Friday after a district court judge asked if a preliminary injunction aimed at preventing a mass layoff is still in effect. View the full article

The Consumer Financial Protection Bureau's Acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB. View the full article

After the end of the draw periods that range from two to five years, the amortization begins, during which borrowers have a repayment period ranging from three to 25 years. View the full article

Three Democratic Senators say Demotech's assessments "raise profound governance and reliability concerns" in letters to Fannie Mae and Freddie Mac. View the full article

Yields gravitated back toward session lows — down three to four basis points on the day — after the December ISM manufacturing gauge unexpectedly dropped. View the full article

Treasury yield breakouts signal technical damage, with higher yields likely before any recovery despite choppy markets, according to the CEO of IF Securities. View the full article

The moderate leverage reflects the quality of RMBS pools from recent issuance years. Borrowers have a non-zero WA annual income of $1 million, with liquid reserves of $594,348. View the full article

Prepayment speeds approached recent highs last month, but distressed borrower data paints a mixed picture about the current housing market, according to ICE. View the full article

The $69 billion sale of two-year notes was awarded at 3.580%, more than a basis point below its yield at the bidding deadline. View the full article

Some market sectors face growing challenges related to a K-shaped economy as servicers play an increasingly important role in keeping customers. View the full article

Federal Reserve Vice Chair for Supervision Michelle Bowman said in comments Wednesday that the central bank plans to publish its Basel III endgame capital proposal for public comment before the end of March. View the full article

Total consumer debt in the United States hit $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax. View the full article

Mutual of Omaha, Finance of America and Longbridge Financial rank at the top of HECM endorsements over the past 12 months, Reverse Market Insight reported. View the full article

While federal examination and investigative activity has all but stopped, the regulator is still providing regulatory guidance to the industry. View the full article

The Federal Home Loan Bank system, a Depression-era program designed to shore up mortgage lending that has morphed into a go-to — and controversial — source of cheap financing for banks and other financial institutions. View the full article

Marketing services firm LeadPoint said it thought it had gained compliance after Connecticut officials issued a prior consent order and penalty in 2020. View the full article

Oil prices and Treasury yields continued their close correlation Friday, with crude falling $12 and the 5-year yield hitting recovery lows after Iran declared the Strait of Hormuz open during the ceasefire. View the full article

United Wholesale Mortgage is one of multiple home lending partners Dan Sogorka and Mike Fawaz's new company plans to bring on board. View the full article

Fannie Mae and Freddie Mac's support for the market lessened the impact, as could bank capital reform, and the company's normalized results outperformed. View the full article

The announcement comes following an Institutional Shareholder Services report which urges shareholders to vote no on the CrossCountry Mortgage transaction. View the full article

With comments on the proposed repeal due Sept. 26, stakeholders must demand decisions based on data — not politics, according to the founder of 480 Advisors. View the full article

The title industry sustained improvement first seen last year, with second-quarter premium totals up on both a quarterly and annual basis, ALTA said. View the full article

As home prices reach new heights, mortgage expenses are unaffordable for the typical earner in a third of the nation's largest 580 counties, according to Attom. View the full article