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Title Insurers Increasingly Worried About Unregulated Alternatives

March 9, 2023
Dennis Hollier
The GSEs’ endorsement of attorney opinion letters in lieu of title insurance has the title industry concerned.
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Grapevine: Wanted: A Large Retail Franchise / A 40-Year Loan Mod

March 9, 2023
Monica Hogan, Paul Muolo, and Sam Manas
Rocket has a huge imbalance between refinances and purchases. Will “distributed” retail help? Meanwhile, FHA rolls out its 40-year modification product.
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SCOTUS Agrees to Hear CFPB Funding Case

March 2, 2023
Sam Manas
The Supreme Court has agreed to take on the contentious issue of whether the CFPB’s funding is unconstitutional. Last year, the Fifth Circuit Court of Appeals held the bureau’s funding structure violated the Constitution’s appropriation clause and separation of powers doctrine.
Read More

Few Signs of Improvements in Profitability for Lenders

March 2, 2023
Paul Muolo
Is the worst of the mortgage downturn over? Probably not but there appears to be some improvement. Now, if only interest rates would cooperate.
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Subservicing Growth? Slow Going for the Most Part

March 2, 2023
Paul Muolo
Subservicing vendors don’t seem to be adding to their contract base these days with a few isolated exceptions. A reflection of fewer new loans being created or something else? (Includes data chart.)
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CFPB Shuts Down Repeat Offender Majestic Home Loans

March 2, 2023
Monica Hogan
RMK Financial/Majestic Home Loans has been permanently banned from the mortgage business for violating terms of an earlier consent order in which the lender agreed to cease its deceptive advertising practices.
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Credit Score Model Change a Slow-Moving ‘Seismic Event’

March 2, 2023
Brandon Ivey
It’s been four months since FHFA approved new credit scoring models for loans delivered to the GSEs. While the transition wasn’t going to be quick, industry participants are still waiting on a timeline.
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Roostify Acquired by CoreLogic

March 2, 2023
Dennis Hollier
The data firm’s purchase of fintech Roostify takes place in the shadow of the controversial ICE/Black Knight merger attempt.
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Grapevine: More M&A Chatter; Top Embrace Executive Departs

March 2, 2023
Paul Muolo
More M&A talk is hitting the market. One possible buyer is Movement Mortgage, the nation’s 24th largest home lender. Meanwhile, Steve Adamo has parted ways with Embrace Home Loans.
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Supreme Court Will Hear Challenge to CFPB Funding

February 27, 2023
Sam Manas
At press time it wasn’t immediately clear when the Supreme Court will hear arguments in the case.
Read More
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