Daily Dose

A policy allowing consumers to publicly share their stories when submitting complaints to the CFPB was first proposed by the Bureau in July 2014. After months of receiving comments from consumer groups, trade associations, companies, and individuals, theCFPB finalized its consumer narrative policy on Thursday.

Gardner has held leadership positions at the National Community Stabilization Trust (NCST) and the affordable lending operation at some of the nation’s leading mortgage lenders. This is experience is why Freddie Mac believes Gardner will bring significant experience and a great depth of knowledge to the role.

Features of the 2015 Five Star Government Forum included keynote addresses from U.S. Congressman Randy Neugebauer (R-Texas), Fannie Mae SVP and Chief Economist Doug Duncan, and Freddie Mac Deputy Chief Economist Len Kiefer as well as Five Star President and CEO Ed Delgado's one-on-one interview with Acting FHA Commissioner Biniam Gebre.

Compared to the first and fourth quarter of last year, results show more lenders expect mortgage demand and their profit margin to grow over the next three months. Of the senior mortgage executives surveyed, 69 percent said they felt the economy was on the right track.

Despite removing the “patient” policy, the Federal Open Market Committee remained steady on the belief that interest rates will not increase by their April meeting. Fed Chair Janet Yellen emphasized in a press conference following the meeting, the removal of the pledge doesn’t mean Fed rates will increase by June.

According to Ocwen, the portfolio consists of approximately 55,000 performing loans owned by Freddie Mac. The transaction is subject to approval by Freddie Mac and its conservator, the Federal Housing Finance Agency (FHFA), as well as other customary conditions. Ocwen reported that it expects the transaction to close by April 30, 2015, and expects the loan servicing to transfer in May 2015.

The home donation program will be featured at the 2015 Five Star Conference and Expo, which will take place September 16 to 18 in Dallas, Texas. Five Star has partnered with various non-profit organizations over the last four years to provide approximately $4 million worth of homes to service members. At last year's conference, Five Star presented six wounded veterans with mortgage-free homes.

The report predicts the 2015 purchase volume will feature over 3.3 million loans totaling to $782.6 billion. The 2015 refinance volume range is between 1.41 million loans at the low end totaling to $305.9 billion to 1.77 million loans at the high end totaling to $384 billion. The 2015 expected low end for total mortgage value is 4.74 million loans for 1,088.5 billion. The high end is 5.1 million loans at $1,166.6 billion.

Housing starts dropped 17 percent in February to a seasonally adjusted annual rate of 897,000. This is 3.3 percent below the February 2014 rate of 928,000. The Northeast and Midwest region saw the biggest drop in starts at 56.5 percent and 37 percent. The West region saw the least starts drop at 18.2 percent.

In an update on its website dated March 2, Ocwen announced that it had "signed a letter of intent with a buyer on the sale of mortgage servicing rights (MSRs) on a portfolio consisting of approximately 277,000 performing Agency loans owned by Fannie Mae with a total unpaid principal balance of approximately $45 billion."