Comments from real estate agents across the country are largely negative regarding the CFPB’s integrated disclosure rule known as TRID, according to the latest HousingPulse survey sponsored by Inside Mortgage Finance Publications. However, the data suggest a nuanced interpretation is necessary, as the damage from TRID is far from universal. For instance, the data collected in January represent the first time since TRID took effect that the share of on-time closings has diverged between FHA loans and Fannie Mae/Freddie Mac loans. That suggests TRID isn’t necessarily the sole culprit causing delays. If TRID was a major problem, loan types across the board would likely have a lower share of on-time closings. The survey also revealed that more than half of ...

“I personally called their line. I didn’t see much difference, to be honest with you,” said Impac executive Joe Tomkinson.

A handful of firms broker TRID scratch and dent loans, including Rincon Mortgage Trading, Mortgage Delivery Specialists and Spurs Capital.

Non-traditional forms of credit also will be taken into account on the new product

BofA said it has no plans to further reduce its involvement in FHA lending.

Currently, employers are required to pay overtime for all employees who make $23,660 or less annually.

As banks cede market share to nondepositories, an odd thing is happening: banks and thrifts are hiking their investment in MBS.

The False Claims Act could potentially apply to Fannie Mae and Freddie Mac loans in the future, thanks to increased GSE cases and a broadened claim definition. The risk of the Department of Justice applying the FCA to GSE loans may seem remote, said Andrew Schilling, partner with BuckleySander LLP, but he isn’t counting it out. …

Fannie Mae’s Latest CAS Sells First-Loss Position. Fannie priced its latest credit risk sharing transaction under its Connecticut Avenue Securities series last week. For the first time, it is selling a portion of the first-loss position, further reducing taxpayer exposure to credit losses. To promote additional liquidity, Fannie for the first time sought a credit rating for the M2 notes in a CAS transaction. Servicer Expense Reimbursement Notification. Fannie Mae Expense Reimbursement will be consolidating the available expense reimbursement claim line item categories and subcategories in the Black Knight Financial Services LoanSphere Invoicing Application on March 21, 2016. This update will streamline the claim line item choices in the application for improved consistency in submitting and processing expense reimbursement requests. Freddie Prices...

GSE credit risk-sharing will witness a leveling off of Fannie Mae’s and Freddie Mac’s popular back-end credit risk transactions and an increase in first-loss and front-end risk sharing, according to the Urban Institute. Sales of Fannie’s Connecticut Avenue Securities and Freddie’s Structured Agency Credit Risk have been dominated by money managers and insurance companies, but a recent paper by the UI’s Laurie Goodman and Jim Parrott suggests that this investor base may face some constraints including liquidity issues. The report noted that investors are not able to sell significant positions in CAS or STACR deals without spreads widening significantly because market makers are only willing to hold modest positions given the capital requirements.