Was the TRID mess overblown? Tell that to all the mortgage firms that lost money on deals...

Many borrowers who apply for a mortgage with a partner miss out on lower interest rates due to lenders’ standards regarding credit scores, according to research by economists at the Federal Reserve. Applying for a mortgage solo can lead to substantial cost savings, though determining whether to take that option can be complicated. Geng Li, Weifeng Wu, and Vincent Yao detailed their findings in a FEDS Notes article published by the Fed. The analysis was based on ...

Most borrowers are having a positive experience with the new loan estimate and closing disclosure forms now in use under the Consumer Financial Protection Bureau’s integrated disclosure rule known as TRID, according to a new survey from TD Bank. The rule integrates the consumer disclosures required under both the Truth in Lending Act and the Real Estate Settlement Procedures Act. Of those responding to the survey, 40 percent reported having had an “excellent” experience ...

However, the new Cordray letter provides no details on where it will land on errors.

Quicken Loans, for example, reported a 4.9 percent increase in total originations compared to 4Q15. An estimated 81.0 percent of the nonbank’s production in 2015 was refinance loans…

Comments are due on Friday from working group members that have been participating in the effort.

The publicly traded servicer/originator took in $330.7 million in revenue, a 35.2 percent decline from 1Q15. Its origination revenue was a meager $23.2 million…

Mortgage lenders that have excelled at originating refinance loans posted steady and improving originations during the first quarter of 2016 while competitors that are more focused on the purchase-mortgage market generally saw declining production levels. A new Inside Mortgage Finance analysis and ranking shows that first-lien mortgage originations totaled an estimated $380.0 billion during the first three months of 2016, down slightly from the fourth quarter of last year. That estimate could change as more information becomes available, especially from major nonbank lenders that have not yet reported first-quarter originations data. Agency indicators were...[Includes two data tables]

Thanks to rising loan applications and a stronger-than-anticipated start to the second quarter, merger and acquisition activity in the mortgage industry is at muted levels these days, according to investment banking officials. In other words, lenders will continue to “make hay while the sun shines,” believing that current profit margins are just too good right now to consider selling out. It was originally thought...

Lone Star was the first firm to issue a non-agency MBS backed predominantly by non-QMs...