Eleven lenders paid a total of $152.1 million in civil penalties and settlements while three others lost their FHA approval for various violations of FHA requirements, according to the Mortgagee Review Board’s latest report on administrative actions taken against FHA-approved lenders. As required by the Department of Housing and Urban Development, the report summarizes the disciplinary actions imposed by the board on FHA lenders from Oct. 1, 2014, to Sept. 30, 2015. These actions include $151.7 million in settlements and $370,119 in civil money penalties, withdrawals of FHA approval, suspensions, probations and reprimands. Allied First Bank of Oswego, IL, agreed to pay a $17,000 civil money penalty for improper use of FHA’s name in certain correspondence and for failure to notify HUD of a consent order entered into by the bank and federal and state banking regulators. The MRB voted to ...

Although purchase-mortgage lending is expected to pick up considerably in the second and third quarters, the refi market isn’t dead yet.

While uncertainty persists regarding TRID, KBRA said it only slightly increased its loss expectations on Redwood’s planned jumbo MBS.

The former Wells LO added: “I was bullied into entering the consent order because the CFPB left me no other reasonable choice.”

The FDIC said that acting as a receiver of the failed banks it “may professionals and entities whose conduct resulted in losses to those institutions…”

Fannie Mae said the result is that potential buyers may be wrongly disqualifying themselves before they even apply for a mortgage…

At the KBW show, MI firms also dismissed the notion of consolidation in the sector, calling it unlikely.

Refinance lending gained strength in the first quarter of 2016 and surpassed origination of purchase-money mortgages, according to a new Inside Mortgage Finance ranking and analysis. Mortgage lenders originated an estimated $195 billion of refinance loans in the first three months of this year, an 11.4 percent increase over the fourth quarter. With purchase-mortgage production slumping by 11.9 percent to $185 billion, the refi market accounted for 51.3 percent of total originations for the first quarter. Although purchase-mortgage lending is expected to pick up considerably in the second and third quarters, the refi market isn’t...[Includes three data tables]

A strong spring home-buying season and continued low rates are feeding optimism among selected lenders, fueling hopes that healthy production in May will lead to an even better June, according to interviews conducted by Inside Mortgage Finance. “May was bigger than April by 10 to 15 percent at both Skyline and New Leaf,” said Bill Dallas, CEO of Skyline Lending, Calabasas, CA. (New Leaf is the wholesale affiliate.) Not too long ago, Dallas wasn’t feeling all that optimistic about 2016. But that was then. “The year started out...

Warehouse commitment levels remained flat at $50.0 billion in the first quarter as a tepid origination market early in the year reduced the need for new lines, according to exclusive survey figures compiled by Inside Mortgage Finance. But with the first quarter firmly in the rearview mirror, warehouse executives are reporting a robust spring/early summer with new customers coming on board and nonbanks tapping more of the lines already committed to them. “We’ve had...[Includes one data table]