Short Takes: The Top VA IRRRL Lenders / Tax Cuts Coupled with More Government Spending, a Recipe for Disaster? / If Habib’s Interest Rate Prediction Comes True, Watch Out Below / CFPB Wants Feedback on Enforcement Processes / A New Title for Amy Brandt February 8, 2018 Paul Muolo and Thomas Ressler Analyst Barry Habib of MBS Highway told us last week that once the yield breaks above 3.00 percent it’s only a matter of time before it hits 3.80. Just think of what that might do to the mortgage business…Read More
Freedom Mortgage Buys $25 Billion of Servicing Rights from Stearns Lending February 8, 2018 Paul Muolo In the summer of 2015, The Blackstone Group bought a controlling interest in Stearns.Read More
Better Mortgage Launches Refi Program for Airbnb Hosts, Providing Favorable Treatment to Income from Primary Residences February 8, 2018 Brandon Ivey Better Mortgage will use a borrower’s average Airbnb earnings from the last 24 months...Read More
Will CFPB Chief Mulvaney Say ‘Never Mind’ on PHH Case? February 8, 2018 Thomas Ressler In fact, it’s possible the CFPB under Acting Director Mick Mulvaney may just say: never mind.Read More
Ginnie Mae Lays Down Law on VA Churning, Warns Select Group of Issuers They Face Banishment February 8, 2018 Paul Muolo Issuers cited by Ginnie Mae are expected to deliver a corrective action plan...Read More
Government and Jumbo Sectors Took the Biggest Lumps in 4Q17 Lending February 8, 2018 John Bancroft The conventional-conforming market held up relatively well in the fourth quarter, with origination volume easing by just 0.7 percent…Read More
MBA Chairman Motley Hopeful that HUD Will Act Soon on FHA Clarifications February 7, 2018 Paul Muolo The trade group chief said uncertainty still exists around FHA loan level certifications…Read More
Short Takes: The FHFA Version of Mick Mulvaney / Political Appointees at the FHFA? / Waiting on Hensarling’s GSE Draft / A Strong Profit for Genworth / Reverse Lender Goes Forward February 7, 2018 Paul Muolo Rep. Hensarling, a Republican from Texas, has yet to unveil a legislative blueprint…Read More
Mortgage Servicers Worry about Bankruptcy Provisions in CFPB Rule February 7, 2018 Thomas Ressler As of April 2018, mortgage servicers will have to send monthly billing statements to consumers in active bankruptcy cases…Read More
Guaranteed Rate Hires Quicken Executive as New President of Online February 7, 2018 Paul Muolo At Quicken, Lombardi served as director of mortgage banking.Read More