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GSE MBS Issuance Takes a Breather in 1Q16; Refis Head North Again

April 7, 2016
John Bancroft
There was a modest 1.8 percent increase in refinance business, and refi loans accounted for over half (52.1 percent) of GSE business in the first quarter – the first time refi activity exceeded purchase lending since early last year.
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1Q16 Has Ended. A Good Quarter for Most or More Servicing Markdowns?

April 7, 2016
Paul Muolo
Dallas, who has been a mortgage banker since the 1980s, added that earlier in the year Skyline “battened down the hatches…”
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A Different Type of Housing Crisis: A Coming Shortage of Qualified Appraisers?

April 7, 2016
Carisa Chappell
Of considerable concern is the shortage of appraisers in specific markets.
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Short Takes: Discover, Liking Mortgages Again? / This Wouldn’t Happen at Yale! / WWWD? (What Will Watt Do?) / Now the Consumer Has the Upper Hand? / Stonegate Hires Alumnus

April 6, 2016
Paul Muolo and Carisa Chappell
FHFA chief Mel Watt is expected to issue a final decree this month…
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PulteGroup CEO Set to Retire After Founder/Former Chairman Threatened ‘War’

April 6, 2016
Brandon Ivey
Pulte raised concerns about the way PulteGroup is being managed, including the relocation of the company’s headquarters from Detroit to Atlanta in 2013.
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A Ton of Servicing Deals Hit the Auction Calendar. Can They All Get Done?

April 6, 2016
Paul Muolo
One servicing broker had this to say about the all the new offerings: “There’s a lot of deals out there now – and they seem to be getting done.”
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Equifax, Experian Top the CFPB Complaint List; Mortgage Gripes Down

April 6, 2016
Thomas Ressler
Total gripes to the bureau slid 5.0 percent in the first quarter and were off 3.0 percent on an annual basis...
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Consultant Floats Idea: Make Loan Officers Pay for Compliance Costs

April 6, 2016
Paul Muolo
The consultant has seen compliance costs rise, but without a commensurate cut in LO commissions...
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Industry Braces for CFPB’s Investigation of Loan Officer Compensation

April 6, 2016
Thomas Ressler
“We’ve heard recently that CFPB Director Richard Cordray expects to continue to use enforcement actions to shape policy,” said attorney Kris Kully.
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$128 Billion of GSE Loans Didn’t Meet the QM Test. The ‘Patch’ Saves the Day

April 5, 2016
John Bancroft
This so-called agency “patch” was set up to last for seven years, or until 2021...
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