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.Read More
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. Read More
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.Read More
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.Read More
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 productRead More
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