The Consumer Financial Protection Bureau’s high-profile ability-to-repay rule has had “little to no impact” on borrower access to mortgage credit, officials at the bureau said this week. But other regulations are certainly forcing compliance costs to go up while pushing the quality of customer service down, according to community bankers. Speaking during a meeting of the CFPB’s Community Bank Advisory Council in Washington, DC, this week, Brian Webster, program manager for the bureau’s Office of Mortgage Markets, said he was glad to see that mortgage lending did not grind to a halt the day after the ability-to-repay rule took effect in January. “Over the past months, we have heard...

Bank of America blamed the layoffs on “continued reductions” in its legacy mortgage business “as well as actions taken in sales and fulfillment as refinance demand slowed.”

Officially launched a year ago, the Bethesda, MD-based Common Securitization Solutions has no chief executive officer or chairman but continues to hire staff.

REITs have seen mixed results in the past year when aggregating jumbos for MBS and buying a subordinate portion of the securities.

Redwood Trust ranked second in terms of issuance for the third quarter, pricing $636.0 million in jumbo MBS.

Varde has been looking for an investment in the non-QM space for the past year and finally found Deephaven. “They’ve approached others as well,” one source told IMFnews.

Deephaven founder Matt Nichols isn’t ready to provide details on the subprime lender's game strategy quite yet...

Under a “mini-corr” arrangement, a warehouse lender provides a line of credit to a loan broker, transforming that broker into an actual funder instead of just a loan facilitator.

When it comes to individual lenders, most of the top 50 targets of consumer gripes generally either stay in the same ranking or move up or down one or two levels.

Compared to the same quarter a year ago, residential originations fell 40 percent at Wells. At JPM the downdraft was even worse...