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An Underused Tool? The False Claims Act as it Applies to GSE Loans

February 23, 2016
Carisa Chappell
Schilling cites a 2009 amendment to the DOJ’s FCA policy that expanded the boundaries of where it can be applied. He said now a claim can include a request for money made to a recipient of government funds.
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As ‘Captives’ Get the Boot, Traditional Insurance Firms Increase FHLB Membership

February 23, 2016
Carisa Chappell
Several groups of traditional insurance companies have substantially increased their borrowing capacity from the FHLB system as well.
Read More

MBA Increases Residential Origination Forecast to $1.48 Trillion

February 23, 2016
Paul Muolo
Compared to an estimate released at its annual convention in October, the trade group's production forecast is up 12.3 percent.
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Short Takes: A 178 Percent Increase in Originations at One Company / Taking it on the Chin? / On the Way Out: Back-End Risk Sharing? / Liquidity Issues? / REIT Buys Back Stock

February 23, 2016
Carisa Chappell and Paul Muolo
Baldwin noted that experienced mortgage bankers have grown to expect seasonality, but that doesn’t mean they have to like it…
Read More

Banks and Thrifts Continue Their Love Affair With MBS

February 22, 2016
John Bancroft
As banks cede market share to nondepositories, an odd thing is happening: banks and thrifts are hiking their investment in MBS.
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Congress Voices Concerns on DOL Overtime Move, Which Could Affect Mortgage Firms

February 22, 2016
George Brooks
Currently, employers are required to pay overtime for all employees who make $23,660 or less annually.
Read More

Impac Officials Not too Impressed with Quicken’s Rocket Mortgage, See Similarities with CashCall

February 22, 2016
Brandon Ivey
“I personally called their line. I didn’t see much difference, to be honest with you,” said Impac executive Joe Tomkinson.
Read More

Mid America Continues to Bid on TRID ‘S&D’ Loans; Expects Market Could Peter Out Eventually

February 22, 2016
Paul Muolo
A handful of firms broker TRID scratch and dent loans, including Rincon Mortgage Trading, Mortgage Delivery Specialists and Spurs Capital.
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Non-Profit Will Take First Loss on New BofA 3-Percent-Down Product

February 22, 2016
Carisa Chappell
Non-traditional forms of credit also will be taken into account on the new product
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Short Takes: $500 Million is the Target for BofA / BofA’s Past FHA Pain / Ocwen a ‘Neutral’ / A New CFO for Stonegate

February 22, 2016
Paul Muolo
BofA said it has no plans to further reduce its involvement in FHA lending.
Read More
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