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Freddie Mac Predicts a 3Q16 Production Boom of $595 Billion

September 21, 2016
Brandon Ivey
Freddie expects originations to hit $2.0 trillion this year, a 14.3 percent sequential improvement…
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Mortgage Production is Booming but Reports Abound of Appraisers Cherry-Picking Assignments and Charging ‘Rush Fees’

September 21, 2016
Paul Muolo
One mortgage CEO who runs a California-based shop told IMF his firm recently was in a pinch and paid a $1,500 “rush fee” to an appraiser to get a deal done on time.
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Former Clayton Chief Joe D’Urso Lands at Pretium Partners

September 21, 2016
Paul Muolo
Founded by former Goldman Sachs executive Donald Mullen, Pretium Partners bills itself as a specialized investment management firm with roughly $6.5 billion of assets under management.
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Short Takes: The Wells Fargo Senate Barbeque / The Scandal’s Effect on Wells’ Mortgage Business? / Hats Off to the Los Angeles Times / Sen. Warren Slams Stumpf / Jumbo Update

September 20, 2016
Paul Muolo and Brandon Ivey
Will a potential residential mortgage customer bolt Wells Fargo because they can’t trust the bank’s employees, including its retail loan officers?
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Mortgage Trade Groups Fear an 'October Surprise' on the GSE CSP

September 20, 2016
Paul Muolo
“We’re extremely concerned the CSP would be transferred to a nonprofit or a corporation where the board members include executives from JPMorgan Chase or GE Capital,” CMLA's Corso said.
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MountainView, Prestwick Roll Out New MSR Auctions

September 20, 2016
Paul Muolo
As rates increase, more deals are hitting the market...
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JPM Prepares Another Jumbo MBS, First Deal in More than a Month

September 20, 2016
Brandon Ivey
Despite improvement in securitization returns, jumbo whole loan sales are still more profitable, KBW said.
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CFPB’s TRID Rule Gets the Blame for a Rise in Mortgage Defects

September 20, 2016
Thomas Ressler
In fact, these two categories are responsible for more than 75 percent of all defects.
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On the Rise Again: Bank Repurchases of Mortgages

September 19, 2016
John Bancroft
All of the second-quarter increase can be attributed to Bank of America, which reported $372.0 million in repurchases for the period – up $67.0 million from the first quarter.
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Other News in Brief

September 19, 2016
Even Under Trump, Would the CFPB Be Invincible? If businessman Donald Trump wins the White House in November, the CFPB would be in the Republican’s crosshairs for sure. But the bureau’s recent consumer fraud case against Wells Fargo for opening up roughly two million deposit and credit card accounts without authorization has caused such outrage nationwide that it may very well give the controversial regulator a “shield” of sorts. At least that’s what we’ve been…
Read More
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