When the CFPB assumed RESPA enforcement from HUD in July 2011, it pledged to apply its predecessor’s official commentary, guidance and policy statements until further notice, the brief argues.
Although some lenders love having a desk in a high-volume Realtor’s office, others loathe the practice. “I lost so much business to those places over the years,” he said. “I refused to pay $5,000 for a desk…”
The good news is that mortgage industry forecasters now see a much stronger originations market in 2016 than they did just a few months ago. But loan production is still expected to drop from 2015 levels. The consensus projection from economists at Fannie Mae, Freddie Mac and the Mortgage Bankers Association is that single-family mortgage originations will total $1.376 trillion next year. Back in May, the average forecast was $1.208 trillion. Estimates have ... [Includes one data chart]
Fannie Mae, Freddie Mac and Ginnie Mae securitized $119.7 billion of correspondent-originated loans during the third quarter of 2015, a new Inside Mortgage Trends analysis reveals. That was up 8.6 percent from the second quarter. Meanwhile, broker production fell 10.6 percent during the third quarter. Brokered loans accounted for just 11.5 percent of agency mortgage-backed securities issued during the third quarter, down from 12.9 percent in ... [Includes one data chart]
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