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CFPB Finds Mortgage-Related Complaints Declining, Led By Ocwen and Nationstar

August 26, 2015
Brandon Ivey
Among the top 10 companies in the complaint database, two mortgage servicers showed improved performance: Ocwen and Nationstar.
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Get Ready: G-Fees Will Rise for USDA Home Loan Program

August 26, 2015
George Brooks
Effective Oct. 1, 2015, the upfront g-fee for USDA purchase and refinance loans will be raised to 2.75 percent from 2.00 percent.
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A ‘New York State of Mind’ on LO Approvals: Like Molasses

August 26, 2015
Paul Muolo
A spokesman for the NYDFS admitted that, “We’re constantly trying to improve our processing times, but we know that we have a lot of work to do..."
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Short Takes: Credit Suisse Readies Another Jumbo Deal / Angel Oak Nonprime MBS? / Parkside Rolls Out Jumbo With Caveats / FHA, PACE and Lien Priority / Barney Frank Back in the Business?

August 25, 2015
Paul Muolo, George Brooks, and Brandon Ivey
Remember the nonprime MBS deal that Angel Oak was working on with Nomura? The transaction may be on again...
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Fannie Mae Unveils ‘HomeReady,’ A Successor Program to ‘MyCommunityMortgage’

August 25, 2015
Carisa Chappell
HomeReady will become part of DU later this year and replaces the MyCommunityMortgage product, which in some circles was known as Fannie’s “subprime” option.
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CFPB Rejects Lead-Generation Firm’s Effort to Dismiss CID

August 25, 2015
Thomas Ressler
The lead generation firm argued that the CID’s notification of purpose was too vague and thus failed to comply with legal and regulatory requirements.
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Mortgage Banking Solutions Selling Wholesale Lender

August 25, 2015
Paul Muolo
MBS Managing Partner Chuck Klein said the company in question owns at least $3 billion in mortgage servicing rights...
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MBA: Origination Profit at Independents Almost Flat in 2Q

August 25, 2015
Paul Muolo
The results are based on 354 lenders that submitted production data to the trade group.
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Servicer Prevails in ‘Do Not Call’ Case Involving Borrower’s Cell Phone Number

August 25, 2015
Brandon Ivey
The borrower listed his cellphone number on the loan modification documents, but then defaulted.
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In Brief: All About TRID / Also Worth Noting

August 24, 2015
Get Your TRID On. The CFPB has put out a Know Before You Owe guide for real estate professionals to help them navigate the upcoming TILA/RESPA Integrated Disclosure rule, otherwise known as TRID. The guide spells out the major elements of the rule, such as the steps associated with closings, and provides an explanation of the new disclosures. Industry pros can download from the bureau’s website print-ready versions in Adobe Acrobat PDF format as well as pre-order printed copies from the U.S. Government Printing Office. TRID Drives ClosingCorp to Integrate With Savana’s Loan Origination Product. ClosingCorp, a San Diego-based residential real estate closing cost data and technology vendor for the mortgage and real estate services industries, has integrated its Loan ...
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