Quicken Loans recently launched a new, TRID-friendly product dubbed the “rocket mortgage,” so named because “in the eight minutes it takes a space shuttle to reach orbit, Americans will now be able to receive a full mortgage approval online,” the lender says in its marketing pitch. “Rocket Mortgage simplifies the largest, most complex and important financial transaction most consumers experience in their lifetime,” said Linglong He, chief information officer for the lender ...

Mortgage employment has risen by just over 5 percent the past year while loan production is on track to increase 33 percent from 2014 – a sign that residential lenders continue to hire as few workers as possible and use outsourcing firms. According to interviews conducted by Inside Mortgage Trends over the past week, it appears that demand for experienced loan officers will remain strong in the coming year, but servicing staffs will continue to shrink. Mortgage recruiter ...

At the same time, credit standards – at least in the agency market – have eased only slightly over the past two years...

In addition to state law, federal laws address cross-selling issues. The Real Estate Settlement Procedures Act, for example, covers referrals of settlement service business, like residential mortgage loans.

CALCAP has never had a default, said company principal Mark Mozilo.

“Some of you work the regular hours with minimal extra ... and this will not work,” an assistant vice president and underwriting manager at Franklin American said in an email to underwriters...

Now that President Obama has signed legislation to cap Fannie Mae/Freddie Mac CEO pay, which GSE chief will leave first?

In comments to IMFnews, Emerson accused the HUD Inspector General and DOJ of “hijacking” the FHA program.

Most mortgage lenders reported a significant uptick in purchase-mortgage originations during the third quarter of 2015, though there is little sign that originators are lowering credit standards to stimulate more business. According to revised estimates by Inside Mortgage Finance, purchase-mortgage originations climbed 10.7 percent from the second to the third quarter of this year, hitting $280 billion. At that level, the purchase market was the strongest it has been since the third quarter of 2007. At the same time, credit standards – at least in the agency market – have eased...[Includes two data tables]

Warehouse banks ended the third quarter with $46.0 billion of commitments on their books, a 4.2 percent sequential decline as residential originations in the primary market slowed and nonbank customers needed less credit. According to survey figures compiled by Inside Mortgage Finance, warehouse commitments at the end of September were up 27.8 percent from the same point in 2014. The quarterly decline was...