CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.

We also heard one report that earlier in the year a large production group from a competitor jumped ship and joined WJB in January.

Give the CFPB even more power? The GOP likely would not stand for such a thing...

The link between loan sales and mortgage-banking income can be squishy…

Of course, just because five industry vets have issued a white paper, that doesn’t mean it can readily yield into legislation.

Redwood Trust, another REIT, hasn’t issued a jumbo MBS since November...

A few years ago JPM stopped funding RHS mortgages through loan brokers.

Although BLS reported declines, recent interviews conducted by IMFnews suggest that some nondepositories are in a hiring mode this spring, especially for retail loan officers.

In a follow-up development to earlier reports of the demise of W.J. Bradley Mortgage as a result of the CFPB’s integrated disclosure rule, affiliated newsletter IMFnews reported last week that at least $20 million worth of jumbo loans originally funded by the lender have hit the TRID “scratch-and-dent” market, citing an investor who plays in the space. The loans were offered by Texas Capital Bank, which several sources have identified as a key warehouse lender to WJB, a now defunct privately held non-depository. Early reports on the company’s voluntary closure suggest that TRID errors on non-agency mortgages played a key role in the firm’s demise. Sources contend that a few months back WJB tried to sell at least $30 million ...

The Association of Mortgage Investors wrote to the CFPB last week for guidance on the integrated disclosure rule known as TRID, warning that the marketplace woes stemming from the new rule may extend to the conforming mortgage loan market. “The recent evidence is that the rule, while extremely well-intentioned, has resulted in a climate of legal uncertainty and is chilling private investment in the U.S. mortgage market,” said Chris Katopis, executive director of the AMI. Further, “We urge the bureau to open a new public comment period to address the concerns of mortgage investors,” he added. “We seek formal written guidance clarifying the liability for a violation of each individual TRID requirement, as well as the scope and applicability of ...