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Short Takes: Even Under Trump, the CFPB May Be Invincible / Five Years of Abuses? / Warehouse Money Available for Non-QM? / The Wild, Wild West / PIMCO-Owned Lender Hires Ex-BOK Official

September 15, 2016
Paul Muolo and Brandon Ivey
Warehouse money is available from commercial banks for nonprime home mortgages, but...
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When it Comes to Refis, VA-Backed Mortgages Lead the Pack – By Far

September 14, 2016
George Brooks
There is no clear explanation as to why VA rates are lower than the competition, but some industry participants, including Tom Piercy of Incenter Mortgage Advisors, speculate prepayments might be the reason.
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Committee Passes Dodd-Frank Alternative; Promotes Portfolio Lending; Democrats Invoke ‘Wells Fargo’

September 14, 2016
Thomas Ressler
The CHOICE Act also would make changes to the structure of the Consumer Financial Protection Bureau, including replacing the single directorship with a five-member board or commission.
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Regions Bank Will Pay Uncle Sam $52.4 Million to Resolve FCA Complaints

September 14, 2016
George Brooks
To date, FCA/FHA settlements have netted the federal government roughly $5.0 billion.
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Signing Bonuses for Mortgage Underwriters? Good MUs Can Earn $135,000 a Year

September 14, 2016
Paul Muolo
One mortgage branch manager described the underwriter shortage as a “big time” problem.
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Short Takes: The CFPB Ready to Slam a Mortgage Lender? / Are Many MSA Agreements Left? / Ocwen a ‘Buy’? Is That Possible? / FHFA Readies Consumer Survey / Pickel Starts a New Job

September 14, 2016
Paul Muolo and Carisa Chappell
Ocwen gets an upgrade, but there are doubters...
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A Key Concern at Ginnie Mae: Nonbanks with Too Much Net Worth Tied Up in MSRs

September 14, 2016
Paul Muolo
Too many nonbanks have their net worth tied up in servicing rights. And that’s a problem…
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Non-Agency Lenders Look to Investment Properties

September 13, 2016
Brandon Ivey
Cash-flow underwriting for mortgages on investment properties also may present regulatory concerns…
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Warehouse Commitments Inched Up in 2Q16, But Usage Rates Spiked

September 13, 2016
Paul Muolo
At Santander Bank, commitments improved by 2.1 percent to $2.4 billion while outstandings jumped 33.3 percent to $1.6 billion.
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Wells Fargo to Eliminate Sales Goals for Retail Bankers. Mortgages Not Affected

September 13, 2016
Brandon Ivey
It’s not clear how many of the consumers with unauthorized accounts had mortgages with Wells, though the megabank and its peers have put an emphasis on cross-selling financial products to jumbo customers.
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