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More Pain, No Gain for Nation’s Largest Home Lenders

June 28, 2018
John Bancroft
With loan production hitting a wall at the megabanks, layoffs are likely to ensue...
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The Wells Fargo Layoff Tally for June: 400 and the Month’s Not Over Yet

June 28, 2018
Paul Muolo
Wells Fargo is the nation’s largest home lender and a bellwether for the overall market.
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Freddie Extends Appraisal Waivers to Condo Purchases and Refis

June 28, 2018
Carisa Chappell
Now, eligible condo loan borrowers can take advantage of the appraisal waiver if ACE deems it unnecessary.
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Short Takes: Ralph Nader Has Some Unkind (And That’s Putting it Nicely) Words for CFPB’s Mulvaney / Mulvaney Viewed Favorably Elsewhere / Nader and the GSEs (Remember that One?) / More M&A for Union Home / A New Hire for Mello

June 28, 2018
Paul Muolo
A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...
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Does the Future of Mortgage Banking Have a Funny Arrow and Feature Drone Delivery?

June 28, 2018
Internet retail giant Amazon.com is exploring the idea of buying a mortgage banking franchise and making a splash in this highly cyclical business. But two huge questions loom: Will it actually happen? And if so, will Amazon disrupt the residential lending landscape the way it has brick-and-mortar retailers at the shopping mall?
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Smaller Lenders, Nonbanks Kept Chipping Away At Lending Heavyweights as Market Fell in 1Q18

June 28, 2018
Not many mortgage lenders found a way to boost production volume in the first quarter of 2018, but mid-size and smaller shops generally fared better than the industry giants, according to an Inside Mortgage Finance ranking and analysis. [Includes two data charts.]
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M&A Roundup: LenderLive Hires Houlihan Lokey to Weigh Options, Stearns Lending Looks at Opportunities

June 28, 2018
LenderLive, a third-party service provider and correspondent lender, is weighing its options and has hired investment banker Houlihan Lokey, according to industry advisors familiar with the firm.
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HUD Secretary Carson Tells Lawmakers Final Condo Rules Should be Out in September; Issues Too Complex, He Says

June 28, 2018
The Department of Housing and Urban Development will issue, in September, final rules to ease FHA requirements for financing condominium purchases and refinancings.
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Court Ruling Turned Back RESPA Calendar to Agency’s Controversial Guidance on Marketing Services Agreements

June 28, 2018
Federal courts have thrown out the Consumer Financial Protection Bureau’s aggressive interpretation of anti-kickback provisions in the Real Estate Settlement Procedures Act. But plenty of questions remain about how new management of the agency will handle the issue or the fate of existing guidance on marketing service agreements, industry experts said this week.
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White House GSE Plan Raises Competition Concerns; Rating Service Expects No Action for Two Years

June 28, 2018
The White House’s broadly phrased proposal to make Fannie Mae and Freddie Mac private corporations again and make explicit the government’s guarantee of their mortgage-backed securities caught industry observers by surprise.
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