CFPB Shines Spotlight on Branch Managers, Cites Violations of LO Comp Standards March 12, 2015 Brandon Ivey Despite the potential seriousness of the allegations, the CFPB did not identify any lenders by name.Read More
Short Takes: LO Overtime Pay: Just Say No / Always Working? / FHFA Critical of Fannie’s Audit Committee / Fitch Rates Rushmore / Mystery Over Spike in Ocwen’s Share Price March 11, 2015 Paul Muolo and Brandon Ivey The Supreme Court decision on overtime pay for loan officers is just over 48 hours old, but already some companies are fearing the worst...Read More
CFPB Chief Cordray Continues to Defend ‘Rate Checker’ Tool March 11, 2015 Thomas Ressler The CFPB seems to be spending quite a bit of time defending its "rate checker" tool, which is still in beta testing.Read More
Solutions to the LO Overtime ‘Problem’ Being Weighed March 11, 2015 Paul Muolo When it comes to mortgage overtime, management might just say "no."Read More
New Entrant to Mortgages A Bit Unusual: A Buyer of Lottery Winnings March 11, 2015 Paul Muolo A major cross-selling opportunity? A report from Credit Suisse notes that, “Every month, JGW receives over 60,000 inbound calls from consumers…” Read More
Two Harbors Sticks with Plain Vanilla for its Latest Jumbo MBS March 11, 2015 Brandon Ivey NYCB Mortgage Co. is the top contributor to the jumbo MBS with a 13.5 percent share.Read More
FHA Lending Down Slightly in January; Quicken Out-Funds Wells Again March 11, 2015 George Brooks Universal American Mortgage posted the highest FHA growth rate at 161 percent...Read More
Supreme Court Rules in Favor of Loan Officers in Overtime Pay Case March 10, 2015 George Brooks The Supreme Court ruling could cost mortgage bankers a bundle in terms of overtime pay. Or maybe not...Read More
Non-Agency MBS Outstanding Increased in February. What? March 10, 2015 Brandon Ivey The increase was a rare occurrence: Since 2009 the balance of non-agency debt outstanding has been on the wane. Read More
Fannie Mae’s Chief Risk Officer Takes Leave of Absence March 10, 2015 Paul Muolo Fannie Mae provided no additional information on the departure, which sounds temporary in nature.Read More
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