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Mortgage Applications Decline Slightly, Refi Share Rises

July 15, 2015
Sherry Muolo
Some residential lenders are still living off of refi applications that were filed earlier in the year...
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BofA Posts Slower Origination Growth Than Peers, Continues to Hire LOs

July 15, 2015
Paul Muolo
The mortgage division is housed in BofA’s consumer banking division, which employed 65,818 workers at the end of June.
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Proposed Change to HUD Form Seen as Loophole for Chase and Citi to Continue Funding FHA Mortgages

July 15, 2015
Brandon Ivey
Chase was the sixth largest FHA lender in 2014 with $1.67 billion. Citi ranked 62nd with $342.4 million.
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Short Takes: Wells’ Appetite for Nonconforming Mortgages Rises / Someone Who Didn’t Rat Out the Neighbor on a Foreclosure / Locating Delinquent Borrowers on Facebook / How Much in Senior Home Equity? / A New Hire for LenderLive

July 14, 2015
Paul Muolo, Brandon Ivey, and Sherry Muolo
A few years back, one investor in nonperforming loans told us that when he couldn’t find a delinquent borrower he turned to the Internet, namely Facebook...
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Mortgage Complaints Filed with the CFPB Down 11 Percent, But…

July 14, 2015
Thomas Ressler
Complaints about residential mortgages were among the first type of gripes to be accepted and tracked by the CFPB’s consumer complaint database.
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Wells and JPM Report Gains in Residential Lending; Applications Are Another Story

July 14, 2015
Paul Muolo
JPMorgan Chase earned $584 million from its mortgage banking division in the second quarter, more than double the profit of the first quarter.
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Green Tree’s Big Servicing Mistake: Calling the Neighbors

July 14, 2015
Brandon Ivey
After being unable to reach the borrower for several months, Green Tree called the borrower’s neighbors multiple times, asking them to have the borrower call the servicer.
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As Rates Rise, MSR Values Firm Up. What’s Next for Prices?

July 14, 2015
Paul Muolo
With the second quarter having just ended, several large flow and bulk MSR transactions are in the works...
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Rent Low, Buy High for Some Counties

July 14, 2015
Sherry Muolo
The “major” counties where it’s cheaper to rent are all in Southern California...
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What About Waiving TRID’s Seven-Day Waiting Period?

July 13, 2015
Mortgage industry consultants at Lenders Compliance Group have received some client questions lately having to do with the seven-day waiting period under the CFPB’s integrated disclosure rule. “We know about the seven-day waiting period requirement between providing the initial disclosures and consummation,” according to a new TRID-related blog from Lenders Compliance Group that summarizes the concerns. “We need to know what criteria to use in order to determine if the consumer may waive the waiting period based on a personal emergency. And if a consumer can waive the waiting period, how is this done?” Jonathan Foxx, president and managing director at the consultancy, replied that, “For a closed-end credit transaction that is secured by the consumer’s dwelling and subject to ...
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