One mortgage executive had this to say about the W.J. Bradley case: “This is fascinating for the implications of whether the LO or the company owns the customer. As you know, LOs have their little black books (or thumb drives) of all their customers and their information."

In fact, the ATR rule “does not require lenders to offer any specific type of mortgage,” the guide says. “Lenders can offer any mortgage they believe a consumer has the ability to repay, as long as they have documentation to back up their assessment.”

The FHA reviewed 6,692 government-insured loans between July 1 and Sept. 30, 70 percent of which were home-purchase loans.

Through the first nine months of 2013, an estimated 22 percent of the $1.59 trillion in mortgages originated (including second liens) had non-agency execution.

Jeff Detwiler, president and chief operating officer of Long & Foster Companies, noted that that higher interest rates are playing a “big role” in the lower home sales realtors are seeing in the Washington DC metro area.

A spokesman for WJB told IMF that the lender/servicer may send out an additional 2,000 data breach notifications, pending the results of a computer forensic review.

Subprime lender Citadel Loan Servicing began taking applications in July. So far, it has suffered no delinquencies.

The CFPB and the Department of Justice are seeking $35 million in damages from PNC Bank to settle allegations that one of its acquisitions – National City Bank – discriminated against African Americans and Hispanic borrowers during the housing boom by charging them higher rates. The alleged activity took place between 2002 and 2008, the government said. PNC, though, did not buy National City until the fall of 2008, agreeing to pay roughly $5.8 billion for the bank. Based on their joint investigation, which began in 2011, the...

The CFPB is seeking consumer comments on the mortgage closing process, specifically asking consumers to identify the key “pain points” associated with mortgage closing and how those pain points might by addressed by market innovations and technology. Specifically, the agency said it wanted comments on how to increase the use of technology and promote inventions that encourage a more streamlined mortgage closing process while also improving consumer knowledge. The agency said it is seeking information from market...

While activity plummeted in the second half of the year, jumbo MBS production in 2013 was nearly four times the level from the previous year.