The U.S. Supreme Court has agreed to consolidate and review two related cases regarding the Department of Labor’s 2010 regulatory interpretation under the Fair Labor Standards Act (FLSA) that mortgage loan officers are not exempt from minimum wage and overtime requirements. A SCOTUS opinion would put to rest a dispute among the circuit courts as to whether the Department of Labor must engage in notice-and-comment rulemaking in order to significantly alter a previous interpretation of the FLSA. The high court’s decision will certainly impact...

What does the future hold for the hedge fund-owned Prospect Mortgage?

The market for large "legacy" MSR deals appears to be ice cold. Then again, last week there were rumors that a $50 billion transaction might be in the works.

The FHFA will weigh the merits of taking legal action against vendors, but could take upwards of 12 months to make a final decision.

How much capital should nonbank mortgage servicers be required to have? The question is getting louder and louder.

Mortgage REITs found a cheap source of funding in the Federal Home Loan Bank system. But will the FHFA permanently block their access or just restrict it?

Credit unions that originate no downpayment mortgages almost always keep the loans in portfolio.

We talked a handful of wholesalers and were told the figure is much lower – in the range of 2.2 percent to 2.5 percent. Broker-sourced loans account for less than 10 percent of all loans funded today,

When in doubt, hire an outside QM/ATR consultant to assure compliance.

Some rating agencies fear that many of the jumbo entrants not only lack historical loan performance data, but have not yet established track records for remedying representation and warranty breaches.