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IMFnews - September 24, 2018

Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot

By Paul Muolo

ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.”

IO Originations Spiked by 25 Percent in 2Q18

By Brandon Ivey

Angel Oak Lending, Citadel Servicing and Navy Federal Credit Union all had IO gains of more than 60 percent during the quarter.

Nonprime Lender Deephaven Taps LoanScorecard’s AU Software

By Paul Muolo

Recently, Inside Nonconforming Markets published its second quarter ranking of expanded-credit lenders, but Deephaven did not appear.

MBA Backs User Fee to Fund Tech Upgrades for USDA Program

By George Brooks

The FHA has proposed a similar user fee but has been denied repeatedly by Congress…

State AGs Will Fill the Void if CFPB Punts on Disparate-Impact Use

By Yemeng Yang

CFPB chief Mick Mulvaney said the bureau is “no longer allowed” to make any rules about disparate impact under ECOA…

Short Takes: Freddie Doesn’t Mince Words / Thinking of Going Public? / Why Amazon and Google Won’t Buy an Existing Franchise / Moogle or Moogage? / Texas Capital’s Deposit Base / Mortgage Job Cuts at USAA

By Paul Muolo

Meanwhile, Hindman doesn’t see Amazon or Google buying an existing mortgage franchise...


Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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