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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

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