The CFPB Unveils its Final Servicing Rule and the Industry Groans August 11, 2016 Brandon Ivey Most of the new requirements under the CFPB servicing rule will take effect in a year…Read More
Short Takes: Brokers are Hot, Bankers Not So Much / Help Wanted: Senior Mortgage Execs / Flagstar Boosting Retail / The Cost Savings From Closing a Jumbo Conduit / New NPL Auction from Fannie Mae August 10, 2016 Paul Muolo and Brandon Ivey Senior-level mortgage executives are in demand these days, according to one recruiter... Read More
S&P Upgrades Ocwen’s Servicer Ratings, Removing the Threat of a Non-Agency Servicing Transfer August 10, 2016 Brandon Ivey S&P said the upgrade was prompted by improvements to Ocwen’s “control environment,” among other items…Read More
It’s Summer Vacation Time, but Mortgage Applications are Going Strong August 10, 2016 Sherry Muolo The VA share of new loan applications improved to 13.0 percent from 12.1 percent the week prior.Read More
Loan Broker Employment Best Since the Financial Crisis August 10, 2016 Paul Muolo UWM is beginning to see some of its competitors pick up their game...Read More
GSE Credit Box Hardly Budged in 2Q16 August 10, 2016 John Bancroft The share of refi loans with scores of 740 or higher edged up from 57.8 percent in the first quarter to 61.6 percent in the second.Read More
Megabanks the Big Winners as Jumbo Conduits Close? August 10, 2016 Paul Muolo The fear is that loan pricing will be worse and loan-to-value ratios will be more restrictive.Read More
Short Takes: MBA’s Dave Stevens, Former HUD Chief Cuomo in the $100,000 Hillary Club / 66 Basis Points for $35 Billion in MSRs? / Sell Walter? / Fannie CEO Takes A Second Job / Stewart Title Loses Sales Exec to Competitor August 9, 2016 Paul Muolo and Carisa Chappell Speculators have made a ton of money shorting Walter's stock...Read More
Walter Posts Staggering Loss of $232 Million for 2Q16; Sells MSRs and Hires New CEO August 9, 2016 Paul Muolo On the production front, Walter’s Ditech unit reported $4.8 billion of new originations, a 3.4 percent drop compared to 1Q16. Read More
TRID 2.0 Proposal Addresses Lingering ‘Black Hole’ Issue August 9, 2016 Thomas Ressler Former CFPB official Benjamin Olson, now with the BuckleySandler law firm, said the bureau’s move in this regard will give lenders more flexibility...Read More
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