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Lenders Oppose Restraints on CFPB CID Disclosures

November 2, 2016
Thomas Ressler
A CID recipient could not disclose its receipt of such a demand to counterparties under financing agreements, loan sales agreements, and purchase and sale agreements, which routinely require such disclosures.
Read More

After HomeBridge Buys Prospect Mortgage, Guaranteed Employment for 900 Retail LOs

November 2, 2016
Paul Muolo
After HomeBridge buys the Sherman Oaks, CA-based lender, the Prospect Mortgage name will disappear, said CEO Peter Norden.
Read More

Tech Vendors Tell CFPB: We Need At Least a Year to Implement TRID Amendments

November 2, 2016
Thomas Ressler
TRID rule changes mean mortgage technology vendors will need to retro-fit software into multiple versions, which further stretches the resources…
Read More

Nationstar Posts a $45 Million Profit for 3Q. MSR Portfolio Hits $453 Billion

November 2, 2016
Paul Muolo
Roughly $4.0 billion, or 72.7 percent, of Nationstar's production came through its consumer direct channel. Purchase loans represented 24 percent of originations.
Read More

First-Time Homebuyer Share Tanks

November 2, 2016
Brandon Ivey
At the recent annual convention of the Mortgage Bankers Association, trade group chief Dave Stevens said originators are being discouraged from lending to some first-time homebuyers.
Read More

Ocwen’s SVP of Lending James Cotton Departs. Once Worked at Freddie Mac

November 2, 2016
Paul Muolo
During his career, Cotton has worked for Freddie Mac, Bank of America and Sterling Savings Bank, among others.
Read More

Short Takes: SoFi Teams up with Fannie Mae on Student Loans / Puff? / What a Trump Victory Could Mean for Stocks, Bonds / The GSEs and MI Changes? / Reverse Lending Hits a Milestone

November 2, 2016
Paul Muolo
Will we finally see a 2.0 percent fixed-rate GSE loan then? Black swans, black swans...
Read More

Banks Post Strong Mortgage Profits for 3Q16

November 1, 2016
John Bancroft
The four megabanks had significantly greater earnings as a group: $2.684 billion, but the gain was slightly lower, 21.2 percent.
Read More

Freddie Mac Hits Earnings Home Run: $2.3 Billion for 3Q; All of it Headed to Uncle Sam

November 1, 2016
Carisa Chappell and Paul Muolo
Through the first nine months of 2016, Freddie Mac earned $2.97 billion. It lost $354 million in 1Q and then turned around and posted a $993 million profit in the second quarter.
Read More

CFPB Faults Lenders for Poor Compliance Management Systems, Violations of Various Regulations

November 1, 2016
Brandon Ivey
The CFPB also found that some banks used employees from a staffing agency who were not properly registered or licensed...
Read More
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