Private mortgage insurers had one of their strongest quarters in recent memory in the spring of 2018, thanks to a surge in new insurance written and a healthy upturn in profitability, according to a new Inside Mortgage Finance ranking and market analysis. [Includes two data charts]
Geneva Financial, Tempe, AZ, is offering loan officer recruits a compensation package of 250 basis points or higher, attracting scores of resumes as well as the ire of some of its competitors.
After federal courts overturned the Consumer Financial Protection Bureau’s aggressive interpretation of the anti-kickback provisions in the Real Estate Settlement Procedures Act, lenders are more confident about forging marketing services agreements, industry experts said.
Roughly $97.1 billion of bulk mortgage servicing rights changed hands in the second quarter, bringing year-to-date activity to $193.3 billion, according to Inside Mortgage Trends, an affiliated newsletter. But even stronger sales may lie ahead.
Mel Watt isn’t likely to ride quietly off into the sunset as his term as director of the Federal Housing Finance Agency draws to a close at the end of this year.
A legislative proposal to hike VA loan fees apparently to pay for certain veterans’ health-care costs is getting pushback from lenders and the Department of Veterans Affairs itself.
A report released last week by the Treasury Department encouraged broader use of automated appraisals and recommended that Congress help push the technology forward. Not surprisingly, the appraisal industry is urging caution.
After a brief hiatus while new management took over, the Consumer Financial Protection Bureau recently has resumed taking enforcement actions. Attorneys said the settlements look similar to those under the prior leadership, but the enforcement strategy is different.
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