Wells Fargo lost its spot as the top-ranked retail originator in the first quarter and recently agreed to sell 52 branches to Flagstar Bank, but company officials insist that the lender is poised for growth in the retail and correspondent channels.
The Structured Finance Industry Group has expressed support for bipartisan legislation that would resolve problems arising from the government’s use of the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act in the context of mortgage insurance claims stemming from the financial crisis.
Mick Mulvaney has been repeatedly saying he is not burning down the Consumer Financial Protection Bureau, but he has changed its course, reorganized it and opened up every nook and cranny for reevaluation and public input.
When trouble hits, a mortgage lender has two main choices: sell the company’s assets or hand over the office keys to the landlord and tell your employees the ugly truth.
Mortgage production indicators were down almost across the board during the first quarter of 2018, but the jumbo market posted some of the biggest declines of all. [Includes three data charts.]
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