Impac’s initial foray into non-QM production was sourced mostly through the wholesale channel.

It's the first time since 2008 that the MMIF has had a capital ratio north of the congressionally mandated 2 percent minimum.

The number of young vets has risen while the 35- to 64-year-old bucket has shrunk...

A nationwide roll out of the small-balance product starts next year.

So, will the FHA cut the MIP? Absolutely not, at least not at this time.

Some believe the FHA MMIF minimum capital standard should be 4.5 percent, not 2.0 percent.

With the mortgage lending industry’s use of marketing services agreements under the Real Estate Settlement Procedures Act likely hanging in the balance, the CFPB detailed its anti-kickback legal arguments against PHH Corp. and its mortgage units in its “reply” brief with the U.S. Court of Appeals for the District of Columbia, filed earlier this month. In PHH Corp., et al., v. CFPB, the first main argument the bureau made is that PHH violated RESPA Section 8(a) because it entered into agreements with mortgage insurers so that whenever an insurer received a referral from PHH, the insurer paid PHH a kickback in the form of premiums for mortgage reinsurance. “PHH thus committed a separate violation every time it accepted a kickback ...

The Office of the Comptroller of the Currency informed lenders recently it will soon start examining banks for their compliance with the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure rule, and issued some updated guidance to help institutions get ready. In OCC Bulletin 2015-42, the agency said during initial examinations for compliance with the rule, OCC examiners will be evaluating a bank’s compliance management system and overall efforts to come into compliance, “recognizing the scope and scale of changes necessary for each bank to achieve effective compliance.”Further, the OCC said, “Examiners expect banks to make good faith efforts to comply with the rule’s requirements in a timely manner. Specifically, examiners are considering the bank’s ...

The CFPB continues to see a host of noncompliance issues with mortgage lenders – but some notable improvement on the servicing side of the industry too. According to the CFPB’s latest supervisory highlights report, the bureau cited a range of problems lenders are having originating mortgages. For instance, regulators saw evidence of failing to fully comply with the requirement that charges at settlement not exceed amounts on the good faith estimate by more than specified tolerances. Some lenders also are failing to fully comply with requirements for completion of HUD-1 settlement statements, to provide homeownership counseling disclosures, or to provide accurate loan servicing disclosure statements. Other lenders are not complying with consumer financial information privacy requirements, the report indicated. In other ...

The CFPB’s proposed plan to study overdraft protection services for ATM/debit cards suffers from a process that is “defective and opaque,” according to the American Bankers Association, which urged the bureau to re-submit its proposed plan with a draft survey. Back in September, the CFPB solicited public comment as it seeks authorization from the White House Office of Management and Budget to carry out a national online survey of 8,000 individuals as part of its review and analysis of ATM/debit card overdraft disclosure forms. “ABA fully supports the bureau’s interest in conducting a quantitative survey of consumers to understand their use of overdraft services, as well as on their comprehension and decision-making regarding overdraft disclosure forms,” said the trade group ...