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Financial Services Industry Wants ‘Binding’ Guidance from the CFPB

July 12, 2018
Yemeng Yang
The American Bankers Association argues the CFPB should acknowledge the bureau is bound by the guidance it issues…
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Supreme Court Takes Case on Non-Judicial Foreclosures

July 12, 2018
Brandon Ivey
Some courts have determined that because non-judicial foreclosures don’t technically obligate borrowers “to pay money,” protections from the FDCPA aren’t available.
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NRL Mortgage Increasing Staff, Will Expand Into New Markets

July 12, 2018
Brandon Ivey
A retail lender, the Houston-based NRL has increased staff at a branch in Cincinnati by 25 percent this year…
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GSE Single-Family Business Up Modestly in 2Q18 as Purchase Market Kicks In

July 12, 2018
John Bancroft
All of the growth in GSE volume came from the purchase-mortgage side of the business…
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PMI Analysts Look at Fannie’s New MI Pilot, Wondering If It Poses a Threat

July 11, 2018
Paul Muolo
But there’s a catch for lenders: Originators will have to pay an additional loan-level price adjustment…
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Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage

July 11, 2018
Paul Muolo
Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...
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Verus Affiliate Set to Issue Largest Post-Crisis Nonprime MBS to Date

July 11, 2018
Brandon Ivey
Roughly 44.6 percent of the loans were underwritten with alternative documentation or bank statements…
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Moody’s Warns that Non-Agency Underwriting Standards Could Deteriorate

July 11, 2018
Brandon Ivey
Under the Economic Growth, Regulatory Relief and Consumer Protection Act, banks with less than $10 billion in assets can receive QM treatment for certain loans...
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New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority

July 11, 2018
Paul Muolo
FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…
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The Fed of New York Likes What it Sees on ‘Fintech’

July 11, 2018
Brandon Ivey
The Fed report focused on the origination of FHA mortgages, which are generally more risky than loans eligible for sale to GSEs…
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