Lenders make adjustments to staffing levels based on demand for purchase mortgages while demand for refinances spur little increase in mortgage employment levels, according to new research from staff at the Federal Reserve. Steve Sharpe, an economist at the Fed, and Shane Sherlund, an assistant director at the Fed, said mortgage processing capacity constraints caused by refi booms reduce originations to borrowers with low to modest credit scores ...

Gebre was Galante’s temporary replacement. Until a recent cut in premiums, FHA volume has been steadily dropping.

Fannie Mae is still the most prolific author of single-family MBS, accounting for 46.6 percent of agency MBS outstanding at Dec. 31.

Mortgage professionals overwhelmingly believe the Dodd-Frank Act should be revised, removing barriers to innovation and to reduce the cost of manufacturing a mortgage.

Although RoundPoint isn’t taking any questions regarding a possible sale of the company, it recently published a statement regarding its co-issuance and subservicing businesses.

Eric Rosenzweig, principal at Stone Point Capital, sees many business plans from people who want to get into the non-qualified-mortgage space.

The CFPB amendments cover nine primary topics, including force-placed insurance and loss mitigation...

But when the letter first came to light one little fact was not readily known: that Devaney was also an Ocwen shareholder.

The CFPB’s latest Supervisory Highlights report identified a number of issues observed during examinations related to mortgage origination, fair lending, consumer reporting, debt collection, and deposits. “In one or more examinations, examiners found that branch managers were loan originators and owners of related marketing services entities,” the report said. Examiners “found instances of improperly allocated expenses on branch income statements which resulted in marketing services entities receiving income based on the profitability of retail loans originated by branch managers. Consequently, branch managers, as owners of the marketing services entities, received compensation based on the terms of transactions originated by the branch managers themselves.” In these cases, bureau examiners directed that compensation to loan originators based on a term of a ...

CFPB Updates TRID Documentation. Last week, the CFPB put out some updates to the implementation materials for its integrated disclosure rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act. The updated material lines up with the rule that was published Feb. 19, 2015, that modifies the 2013 TILA/RESPA integrated disclosure rule (TRID). This rule extends the timing requirement for revised disclosures when consumers lock a rate or extend a rate lock after the Loan Estimate is provided and permits certain language related to construction loans for transactions involving new construction on the LE. Additionally, the bureau is making non-substantive corrections, including citation and cross-reference updates and wording changes for clarification purposes, to various provisions of ...