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PHH Files S-3 With the SEC, Lays the Groundwork for Some Type of Securities Offering

December 22, 2015
Paul Muolo
However, the new PHH filing does not contain the names of any underwriters, dealers or agents.
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CitiMortage Prevails After Correspondent Lender Refused to Repurchase Faulty Mortgages

December 22, 2015
Brandon Ivey
“The buyer did exactly what the contract allowed it to do, namely, determine that a loan was defective and demand repurchase,” Judge Wollman wrote in his ruling.
Read More

Mortgage Tech Vendors Still Scrambling to Help Lenders with TRID

December 22, 2015
Thomas Ressler
The word from the American Bankers Association is this: LOS vendors are still very busy with basic compliance and basic form-population issues…
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White Paper Raises a Thorny Issue: Could Fannie Mae Have Avoided Conservatorship?

December 22, 2015
Carisa Chappell
“It is likely that Fannie Mae could have survived the financial crisis without the intervention of the Treasury,” the authors argue.
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Hike in FHA Loan Limit Cited as Reason for Longer Waits at Resource Center

December 21, 2015
Sherry Muolo
The higher loan limits take effect Jan. 1. Sullivan said consumers are likely contacting the resource center to get in last-minute questions.
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Short Takes: Don’t Let Your LOs Prepare TRID Disclosures? / LO ‘Scorecards’ on the Rise? / REIT Sub Gets FHLB Membership / CoreLogic Buys Vendor for $475 Million / A New Hire for Home Point

December 21, 2015
Paul Muolo, Brandon Ivey, and Sherry Muolo
We’re hearing more chatter of mortgage lenders starting a loan officer “scorecard” approach to grading their salesmen and women...
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Jumbo Funder BofI Expands Into Agency Products with Wholesale Offering; Receives Ginnie Issuer Approval

December 21, 2015
Brandon Ivey
The bank's expansion into government lending comes after a noticeable decline in its share price...
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American Mortgage Consultants Buys JCIII; Creates Largest Due Diligence Firm?

December 21, 2015
Paul Muolo
No purchase price was disclosed. The deal was first hinted at Friday on IMFnews.
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Group of 13 Major Mortgage Firms Posted Weak Production and Servicing Results

December 21, 2015
John Bancroft
The group’s combined production-related income fell a lot more than their actual origination volume, which was down 5.8 percent from the second quarter...
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Fannie Mae Readies ‘Risk Free’ Alternative to Loan Repurchases

December 21, 2015
Carisa Chappell
The new approach is expected to be a more cost-effective route than going through the repeated repurchase requests that have plagued lenders over the years.
Read More
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