Where Realtors were once the first source of information for homebuyers, increasingly independent mortgage lenders are attempting to provide leads on homes for sale and more...
Goldman actually entered the subprime MBS and financing game a bit late compared to some of its peers. At one point it even owned a small subprime lender.
Wells' lending performance stands in contrast to its closest JPMorgan Chase, which reported a 23.3 percent sequential decline in mortgage production for the period.
By now the word is out: Certain unnamed secondary market investors are turning away mortgages because of compliance errors, expressing the opinion they do not want to be on the “liability hook” for any origination errors under the new integrated disclosure rule known as TRID. The Mortgage Bankers Association recently singled out a jumbo investor that’s been rejecting 100 percent of the loans offered by originators. The trade group declined to identify the investor, but other ...
Angela Klein, an attorney with the law firm Morrison & Foerster, said her firm has been talking to mortgage lenders that use big data about the risk and how little guidance there is about it.