Trade groups representing smaller mortgage lenders are asking the Trump administration for targeted regulatory relief for smaller independent mortgage bankers. In a joint letter to Treasury Secretary Steven Mnuchin this week, the Community Home Lenders Association and the Community Mortgage Lenders of America urged the administration to back legislation that would exempt independent mortgage lenders from the Consumer Financial Protection Bureau’s supervision, enforcement and third-party vendor audits. Support is also being sought for CFPB administrative action to provide such targeted relief. In June, Treasury issued...

The signors add: “We … believe the debate over recapitalizing a broken system distracts from the critical structural issues that Congress must address to ensure that the federally supported secondary market serves key, bipartisan objectives.”

News of the expanded repo line sent Walter's share price soaring...

UWM CEO Mat Ishbia noted that his company does not have a say on which applicants ultimately get picked by NAMB, though the lender does have one representative on the review panel.

Wells Fargo could have been subject to a whopping $10 billion fine...

The case started back in 2011 as a “whistleblower” lawsuit filed in New York. Allied, a net branch operator, was based in Houston.

At the ABS East show, Rep. Barr didn’t provide further details about Republican plans for the GSEs…

Rick Roque, who runs Menlo, an M&A advisory firm, said he knows several owners who are contemplating a sale…

Caliber plans to originate at least $1 billion of non-QM residential loans this year…

Congress is not expected to produce workable GSE legislation until next year and even then, other issues – tax reform, another run at fixing “Obamacare,” for example – could kick the can down the road.