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January 29, 2014

Short Takes: Fake Rate Sheet to Lure Loan Officers? / Rising Home Equity Not Saving Consumers From Foreclosure / Sharga on Rising Home Values / Compass Point Bullish on NMI / Norcom Continues Wholesale Expansion / CFPB Accuses PHH of MI Kickbacks

By Paul Muolo

Industry consultant Joe Garrett is telling clients that, “We’ve heard of at least one company that uses a fake rate sheet when recruiting loan officers. As you can guess, it shows really great rates, all fake, of course.”

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results