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Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage

July 11, 2018
Paul Muolo
Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...
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Flagstar Hires Regions Bank Executive to Head Retail

July 10, 2018
Paul Muolo
In the first quarter of 2018, Flagstar funded $7.88 billion of home mortgages, just $960 million of which came through the retail channel...
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Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB

July 10, 2018
Paul Muolo
Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.
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Short Takes: Fannie Launches MI Pilot / MBA Reg Counsel Joins Consulting Firm / Non Bank Market Share Grows / FHFA Capital Rule Criticized

July 10, 2018
Carisa Chappell
Fannie said the new lender option allows the GSE to streamline the operational requirements of participating lenders...
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Ditech’s Future: An ‘Asset’ or a ‘Stock’ Sale? Opinions Differ

July 9, 2018
Paul Muolo
Of course, Ditech has a bit of back story…
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Agencies Leaning More on the ‘QM Patch’

July 9, 2018
John Bancroft
The share of high-DTI loans has continued to go up this year…
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CFPB Deputy Director English Announces Resignation. Her Legal Challenge Ends

July 9, 2018
Yemeng Yang
Last fall, English was named the CFPB’s deputy director by departing Director Richard Cordray...
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Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

July 9, 2018
Paul Muolo and Carisa Chappell
Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.
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More Clarity Needed in TRID 2.0, Compliance Experts Say

July 9, 2018
The preamble of the integrated mortgage disclosure rule creates confusion about whether certain charges qualify for a 10 percent tolerance, and compliance experts suggest that lenders wait to see if there’s further guidance from the CFPB. The CFPB released a rule a year ago finalizing amendments to the Real Estate Settlement Procedures Act and the Truth in Lending Act Integrated Disclosure Rule. The amended TRID rule took effect in October 2017, but the mandatory compliance date…
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On the Decline: Mortgage and Student Loan Complaints

July 9, 2018
Yemeng Yang
Gripes against Experian came in at 14,914 over the six-month period…
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