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February 25, 2014

Short Takes: JPM Continues to Slash Mortgage Jobs / Overlays Disappearing? Don’t Bet On It / Loss Mit Mortgage Firm Slapped with CFPB Fine / Lenders One to Hold Annual Pow-Wow with Members / Stonegate Actually Increased Originations

By Paul Muolo and Thomas Ressler

So, mortgage firms are reducing “overlays” and expanding credit to borrowers in need. Right? Not necessarily.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results