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Government and Jumbo Sectors Took the Biggest Lumps in 4Q17 Lending

February 8, 2018
John Bancroft
The conventional-conforming market held up relatively well in the fourth quarter, with origination volume easing by just 0.7 percent…
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Ginnie Mae Lays Down Law on VA Churning, Warns Select Group of Issuers They Face Banishment

February 8, 2018
Paul Muolo
Issuers cited by Ginnie Mae are expected to deliver a corrective action plan...
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Will CFPB Chief Mulvaney Say ‘Never Mind’ on PHH Case?

February 8, 2018
Thomas Ressler
In fact, it’s possible the CFPB under Acting Director Mick Mulvaney may just say: never mind.
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Better Mortgage Launches Refi Program for Airbnb Hosts, Providing Favorable Treatment to Income from Primary Residences

February 8, 2018
Brandon Ivey
Better Mortgage will use a borrower’s average Airbnb earnings from the last 24 months...
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Freedom Mortgage Buys $25 Billion of Servicing Rights from Stearns Lending

February 8, 2018
Paul Muolo
In the summer of 2015, The Blackstone Group bought a controlling interest in Stearns.
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Short Takes: The Top VA IRRRL Lenders / Tax Cuts Coupled with More Government Spending, a Recipe for Disaster? / If Habib’s Interest Rate Prediction Comes True, Watch Out Below / CFPB Wants Feedback on Enforcement Processes / A New Title for Amy Brandt

February 8, 2018
Paul Muolo and Thomas Ressler
Analyst Barry Habib of MBS Highway told us last week that once the yield breaks above 3.00 percent it’s only a matter of time before it hits 3.80. Just think of what that might do to the mortgage business…
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Government, Jumbo Sectors Take Biggest Lumps in Fourth-Quarter Lending Slump, ECM Gets Traction

February 8, 2018
New lending in the conventional-conforming market stayed on an even keel in the fourth quarter of 2017, likely buoyed by a surge in refinance business.
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Lenders May be Singing the Blues Because of Rising Rates, But Firms Looking to Sell Servicing Rights are Sitting Pretty

February 8, 2018
Thanks to rising interest rates in the second half of 2017, sales of mortgage servicing rights boomed last year and, the way things stand today, 2018 could bring more of the same.
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VA Requires Early Disclosures for IRRRLs to Help Borrowers Gauge Net Benefit of Streamline Refinancing

February 8, 2018
The Department of Veterans Affairs is directing lenders to provide early disclosures to help borrowers seeking an Interest Rate Reduction Refinance Loan determine whether they would actually benefit from the transaction and not end up victimized by a refinancing scam.
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Appeals Court Sends PHH’s RESPA Case Back to the CFPB for Reconsideration

February 8, 2018
The U.S. Court of Appeals for the District of Columbia Circuit last week saved PHH Mortgage and its parent more than $100 million when it sent the lender’s dispute with the Consumer Financial Protection Bureau over issues related to the Real Estate Settlement Procedures Act back to the bureau, basically starting over.
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