As for details, a spokesman for the company said Ellie isn’t talking about the topic at this time. In an email exchange with IMFnews, mortgage technology consultant Tony Garritano of Progress in Lending called the whole episode “very bizarre”…
Some stakeholders said they called the firm’s investor relations department about the latest probe and were told the firm would be saying more about the matter when it reports first quarter earnings.
The FHFA shortly will begin to collect additional, more specific and personal information on borrowers and loans as part of the National Mortgage Database project the agency launched with the Consumer Financial Protection Bureau.
Mortgage-banking income at nine major banks declined by 27.7 percent in the first quarter of 2014 compared with the previous quarter, according to an analysis by Inside Mortgage Trends.
While mostly associated with investors, a fair share of current homeowners rely on cash for home purchases as a way to avoid the hassles associated with mortgage closings.