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IMFnews - November 21, 2017

A 40-Page GSE ‘Draft’ Bill is Circulating in the Senate

By Paul Muolo

As press time, details were sketchy, but lobbyists who claim to have knowledge of the draft caution there are several “different pieces” to the measure...

Publicly Traded Nonbanks Post Earnings Gain for 3Q17 – Thanks to PennyMac

By John Bancroft

Excluding PennyMac, the eight remaining nonbanks had a combined $41.21 million net loss on mortgage banking activity…

One Week After Cordray Declared He’s Leaving the CFPB, Trump Still Hasn’t Named a Replacement

By Thomas Ressler

So, where’s Mick?

FHA’s ‘Tangible Benefit Test’ Might be the Solution to VA’s Churning Problem

By George Brooks

However, a tool currently used by FHA appears to be an obvious solution to the churning problem…

(A Ton) of Mortgage Executives on the Move?

By Paul Muolo

Industry consultant Paul Hindman: “There seems to be a growing number of participants in this year’s game of musical chairs."

Short Takes: Franklin Codel’s Immediate Plans / Forfeiture of Stock / Entitled to a Severance Package of $2 Million? / MBA Weighs in on CFPB’s Strategic Plan

By Paul Muolo, Thomas Ressler

Codel joined the megabank in 1993. He’s a graduate of Harvard University with a degree in engineering science…

Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

vote to see results