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CFPB Cites ‘Prolonged’ Loss Mitigation Process by Servicers

April 27, 2016
Thomas Ressler
Consumers said they received conflicting and confusing foreclosure notifications during the loss mitigation review process...
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A TRID Breakthrough? S&P Endorses Due Diligence Standards Proposed by SFIG; Ready to Rate Non-Agency MBS

April 27, 2016
Brandon Ivey
While S&P will rate new non-agency MBS without formal guidance from the CFPB, the rating service noted that the market’s handling of TRID issues is fluid...
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Flagstar Boosts Originations and Income in 1Q16, Is Comfortable with TRID

April 26, 2016
Brandon Ivey
Flagstar is the only depository that ranks among the nation’s top-five wholesale/broker lenders, according to Inside Mortgage Finance.
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BB&T Reports Warehouse Commitments of $2.8 Billion

April 26, 2016
Paul Muolo
Warehouse consultant Larry Charbonneau noted that he knows of at least two new entrants to the business.
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Short Takes: When In Doubt, Bolt the FHA? / A Record ‘Tightness’ for Non-Agency? / Mortgage Banking is Only Good When Hot / Essent Gets LOC / Parkside Hires Former BofA Executive

April 26, 2016
Paul Muolo and Brandon Ivey
One industry consultant warns that when times are good, mortgage banking income can “turbocharge” earnings but...
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Fannie Mae Will Focus on Reperforming Loan Securitization

April 26, 2016
Carisa Chappell
As part of the program, the GSE will enhance loan-level disclosures for the RPLs to provide more transparency.
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Declining Rates Hurt MSR Values in 1Q16; 58 BPs for BofA?

April 26, 2016
Paul Muolo
A spokesman for BofA declined to provide any color on the mark, but provided a link to past financial filings where the bank talks about its hedging activities which are based on “model and other cash flow” assumptions.
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A Trickle of Jumbo Securitizations. Blame TRID?

April 26, 2016
Brandon Ivey
Pricing on the deal was good, but investor fears rule the day.
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Short Takes: Delinquencies Decline / Comment Deadline for Controversial Survey / New STACR Deal / Assurant Fills in on Flood Insurance

April 25, 2016
Thomas Ressler and Brandon Ivey
The delinquency rate declined by 8.4 percent in March compared with February and was down 12.4 percent on an annual basis.
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Fee on Lenders to Fund FHA Tech Upgrades Excluded from Appropriations Bill

April 25, 2016
George Brooks
The Mortgage Bankers hailed the bill for supporting a number of MBA priorities and for rejecting an administration proposal to fund FHA technology upgrades through a fee on lenders.
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