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MBA Sends 22-Page Letter to CFPB Asking Specific Questions About TRID

May 12, 2015
Paul Muolo and Thomas Ressler
As the TRID deadline moves closer, industry anxieties are getting stronger and more specific in nature.
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Short Takes: Former FHA Chief Stands With Quicken / No FCA for Stevens / Cherry Hill Posts Small Loss / Nomura Loses / Biweekly Provider in CFPB Crosshairs / Milestone for DocMagic

May 12, 2015
Carisa Chappell, Brandon Ivey, Paul Muolo, and Thomas Ressler
Stevens also said that while he was FHA commissioner he chose not to go after lenders for violating the False Claims Act because he said such actions would have opened a “Pandora’s Box.”
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Nonbank Mortgage Firms Report Group Profit for 1Q but Lag Depositories

May 11, 2015
John Bancroft
The eight nonbanks – including the top publicly traded firms that rank high in originations, servicing or both – posted a combined $40.5 million in mortgage-banking income during the first quarter.
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loanDepot Plans to Hire 1,000 New Employees, Including Loan Officers

May 11, 2015
Paul Muolo
Last year loanDepot bought Mortgage Master, Walpole, MA, one of the largest home lenders in New England.
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Independent Lenders Sidle Up to the VA Origination Trough

May 11, 2015
John Bancroft
VA originations by state-licensed lenders rose 14.5 percent from 2013 to 2014.
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FHFA Wants More Workplace, Business Diversity from FHLB System

May 11, 2015
Carisa Chappell
The FHLBs and Office of Finance must now be more specific and include descriptions of their outreach activities in regard to minorities and women.
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Short Takes: Fidelity Set to ‘Spin Off’ Black Knight via an IPO / A Flow Chart is Required / Lots of Spin-Offs / Remember HomeSide Lending? / Shrinking Loss Reserves at the GSEs / Auction.com’s New Hire

May 11, 2015
Carisa Chappell and Paul Muolo
Fidelity, a market leader in title insurance, has a market capitalization rate of $10.6 billion and is headed by William Foley, age 70, who has a history of spinning off companies.
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MountainView and Phoenix Out with New Bulk MSR Deals

May 11, 2015
Paul Muolo
Interactive Mortgage Advisors, MIAC and The Prestwick Group are working on deals as well.
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Nonbanks Report Group Profit in 1Q15 But Continue to Lag Behind Depositories

May 8, 2015
A group of eight large nonbank mortgage lenders managed to post positive earnings on their combined mortgage banking activities during the first quarter of 2015, but they failed to keep pace with a group of 24 banks and thrifts tracked by Inside Mortgage Trends. The eight nonbanks – including the top publicly traded firms that rank high in originations, servicing or both – posted a combined $40.5 million in mortgage-banking income during the first quarter ... [Includes one data chart]
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Another Bullish Sign for Originations: Agency MBS Springs to Life in April

May 8, 2015
John Bancroft
Fannie, Freddie and Ginnie all posted solid gains in volume during April, but Ginnie had the strongest increase with issuance rising more than 32 percent…
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