VA Unveils New Loan Limits for 2016, Increases for 39 Counties December 22, 2015 George Brooks The VA county loan limits do not apply to Interest Rate Reduction Refinancing Loans...Read More
Short Takes: How Many TRID Tech Updates? 99? / Ocwen Makes Another Payment / Rates Going Nowhere / Time for FHA Lenders to Use LEAP / Mortgage Exec Back With Guaranteed Rate December 22, 2015 Paul Muolo, Thomas Ressler, and Sherry Muolo At some lending shops, almost 100 TRID technology updates have been implemented...Read More
PHH Files S-3 With the SEC, Lays the Groundwork for Some Type of Securities Offering December 22, 2015 Paul Muolo However, the new PHH filing does not contain the names of any underwriters, dealers or agents. Read More
CitiMortage Prevails After Correspondent Lender Refused to Repurchase Faulty Mortgages December 22, 2015 Brandon Ivey “The buyer did exactly what the contract allowed it to do, namely, determine that a loan was defective and demand repurchase,” Judge Wollman wrote in his ruling. Read More
Mortgage Tech Vendors Still Scrambling to Help Lenders with TRID December 22, 2015 Thomas Ressler The word from the American Bankers Association is this: LOS vendors are still very busy with basic compliance and basic form-population issues…Read More
White Paper Raises a Thorny Issue: Could Fannie Mae Have Avoided Conservatorship? December 22, 2015 Carisa Chappell “It is likely that Fannie Mae could have survived the financial crisis without the intervention of the Treasury,” the authors argue.Read More
Hike in FHA Loan Limit Cited as Reason for Longer Waits at Resource Center December 21, 2015 Sherry Muolo The higher loan limits take effect Jan. 1. Sullivan said consumers are likely contacting the resource center to get in last-minute questions.Read More
Short Takes: Don’t Let Your LOs Prepare TRID Disclosures? / LO ‘Scorecards’ on the Rise? / REIT Sub Gets FHLB Membership / CoreLogic Buys Vendor for $475 Million / A New Hire for Home Point December 21, 2015 Paul Muolo, Brandon Ivey, and Sherry Muolo We’re hearing more chatter of mortgage lenders starting a loan officer “scorecard” approach to grading their salesmen and women...Read More
Jumbo Funder BofI Expands Into Agency Products with Wholesale Offering; Receives Ginnie Issuer Approval December 21, 2015 Brandon Ivey The bank's expansion into government lending comes after a noticeable decline in its share price...Read More
American Mortgage Consultants Buys JCIII; Creates Largest Due Diligence Firm? December 21, 2015 Paul Muolo No purchase price was disclosed. The deal was first hinted at Friday on IMFnews.Read More