Thanks to TRID, Realtors are Altering Their Purchase Contracts; Longer Timelines September 1, 2015 Thomas Ressler Meanwhile, 37.0 percent of realtors indicated they have put together plans with their lender or title company to help even out the process...Read More
Continued Stock Market Swoon Could Spell More Refis September 1, 2015 Paul Muolo Moreover, one warehouse executive told IMFnews that he is beginning to get requests for increased capacity. Read More
M&T Settles Allegations That It Used ‘Neighborhood Racial Criteria’ for Mortgage Product September 1, 2015 Brandon Ivey M&T sought a dismissal of the lawsuit in April, claiming that its loan officers were acting based on legitimate, non-discriminatory reasons. Read More
Stearns Official Clarifies What Blackstone Will Do With Mortgage Units September 1, 2015 When the Stearns announcement was made some of its competitors began speculating on what might happen to the acquisitions down the road.Read More
Mortgage Gain-on-Sale Margins Coming Under Pressure: Compass Point August 31, 2015 Paul Muolo According to a new report from Compass Point Research & Trading, a gain-on-sale index the firm created has been contracting the past month...Read More
Short Takes: Will Trump Touch the Sacred Mortgage Interest Deduction? / Investors Shrug at Cutillo Resignation / Stonegate Too Cheap To Resist? / Atlantic Bay Hits 500-Employee Mark / Good News for MF Lenders, Bad News for Renters August 31, 2015 Paul Muolo The resignation of Stonegate Mortgage CEO Jim Cutillo didn’t do much for the stock price of the company Monday. Read More
Jumbo MBS Servicing Concentrated, Prepayments Can Vary August 31, 2015 Brandon Ivey The top five jumbo MBS servicers handle 83.3 percent of the loans, with Cenlar alone claiming a 38.4 percent share.Read More
GSE Buyback Activity Slows Again in 2Q15; A New Low August 31, 2015 John Bancroft Almost 60 percent of the repurchases made in the first half of 2015 involved loans that were securitized by the GSEs in 2013 and 2014.Read More
CFPB’s ATR Rule Seen as Helping Increase Certainty for Lenders, But… August 31, 2015 Brandon Ivey The rating service predicted that in the coming months, more lenders will be willing to offer non-QMs that allow for debt-to-income ratios above 50 percent and credit scores as low as 620.Read More
Jim Cutillo out as CEO of Stonegate Mortgage; Maybe a Sale is the Solution? August 31, 2015 Paul Muolo In a statement, Stonegate said Cutillo will be “redirecting” his “entrepreneurial energy on a new endeavor going forward.”Read More