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March 21, 2014

What We're Hearing: Mortgage Brokers, Start Your Engines: A 550 FICO Loan is Here / But Will it Work? / Consultant Calls the CFPB ‘Abusive’ to Mortgage Firms / The Revolving Door of the CFPB / Where’s the FHFA’s Annual GSE Scorecard? / Advice for MSR Investors

By Paul Muolo

All the world loves the CFPB? Not in the mortgage space, it seems. Financial services consultant Joe Garrett said he has six mortgage clients that have undergone exams by the agency. To say the least, it hasn't been a happy experience.

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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