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RoundPoint Settles Servicing Allegations in Bay State

January 5, 2023
Sam Manas
The mortgage servicer reached a relatively modest settlement with the Massachusetts Attorney General’s Office to resolve alleged violations of mortgage servicing and debt collection regulations.
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Tennessee Lender Sued for Poaching From Competitor

January 5, 2023
Dennis Hollier
PrimeLending claims First Community Mortgage encouraged employees to bring trade secrets with them when they shifted companies.
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Lenders Strategize to Get Through a Tough 1H23

January 5, 2023
Paul Muolo
A new year has commenced, with originators of all sizes trying to figure out the best way to stay afloat until rates fall markedly and conditions improve. The biggest challenge, perhaps: cash burn.
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Grapevine: The Market for Reverse MSRs? / Understanding Nonbanks  

January 5, 2023
Paul Muolo
Prices have come back down to earth for mortgage servicing rights, especially for Ginnie product. But what about reverse FHA-backed MSRs? Sometime this quarter GNMA will find out as it moves to resolve its legal rights regarding RMF.
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CFPB, Wells Reach Record Settlement: $3.7B

December 22, 2022
Sam Manas
The consent order covers unfair and deceptive acts and practices in mortgage servicing, auto loan servicing and maintenance of deposit accounts.
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CHLA Asks Fed to Leave Nonbank Lenders Alone

December 22, 2022
Dennis Hollier
Trade groups say small and mid-sized independent mortgage bankers don’t need more federal supervision because they pose no systemic risk.
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Use of Temporary Rate Buydowns Expands

December 15, 2022
Dennis Hollier
Sellers and homebuilders are increasingly reaching for an old mortgage tool to make their homes more attractive to potential buyers.
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CFPB Proposes Public Nonbank 'Repeat Offender' Database

December 15, 2022
Sam Manas
The CFPB wants to create a public registry to track nonbank financial firms that have been cited by a federal, state or local authority for unfair, deceptive or abusive acts or practices. The goal: To add sunshine to the markets and enhance regulators’ supervisory efforts.
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Grapevine: A Correction for F&F? / The Return of Bill Dallas?

December 15, 2022
Paul Muolo
Fewer fix-and-flip home sales are occurring these days, a negative sign for this once white-hot sector. What's more, the profit per transaction dropped to $62,000 in the third quarter. Meanwhile, remember industry veteran Bill Dallas? He may be returning to the mortgage industry for one more rodeo.
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GSEs Support Allowing More Streamlined Refis

December 8, 2022
Dennis Hollier
Fannie and Freddie recommend the CFPB amend the qualified mortgage rule so that more borrowers, particularly those with small-balance loans, are eligible for refinancing.
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