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Short Takes: Flagstar Admits It’s Working on a Large MSR Sale / Showing the Love for Fannie and Freddie / Some Good News on Mortgage Employment / CoreLogic Reports Earnings After the Bell / PCV’s New Product

October 23, 2013
Paul Muolo
Flagstar has finally admitted that it's close to selling a ton of MSRs. But if you want details, don't hold your breath.
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Look for RESPA/TILA Disclosure Rule in December, Maybe

October 23, 2013
Thomas Ressler
The mortgage industry has been anxiously waiting to see the new RESPA-TILA disclosure rule.
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CFPB: Offering Only QM Loans Should Not Cause Fair Lending Problems

October 23, 2013
Thomas Ressler
Based on their view that the requirements of the ATR rule and ECOA are compatible, regulators said they “do not anticipate that a creditor’s decision to offer only Qualified Mortgages would, absent other factors, elevate a supervised institution’s fair lending risk.”
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Mortgage Layoffs Hammer Loan Brokers

October 23, 2013
Paul Muolo
Marc Savitt, president of National Association of Independent Housing Professionals, a broker/appraiser trade group, noted that the short-term outlook for the sector looks difficult.
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Realtors Frustrated with Missed Closing Deadlines on Purchase Mortgages

October 23, 2013
Brandon Ivey
The survey of almost 2,000 real estate agents found that lenders routinely extend their deadlines due to loan processing issues, causing problems for homebuyers
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CashCall Gives Layoff Notices to 486 Full-Time Mortgage Workers

October 22, 2013
Paul Muolo
CashCall, a refi specialist that sells most of its production to Fannie Mae, is shedding a large chunk of its staff.
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Bill Dallas, Through Skyline, Returns to Wholesale Lending

October 22, 2013
Paul Muolo
A few years ago, industry veteran Bill Dallas wasn't so crazy about loan brokers. But he has apparently changed his mind.
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Short Takes: Essent Prices IPO/ Don’t Worry About the NSA, Worry About the CFPB / A Common GSE MBS Too? / Banks Will Have to Escrow Flood Premiums / A New Mortgage Co-op Rises

October 22, 2013
Paul Muolo, Thomas Ressler, and George Brooks
At least two young mortgage insurance firms hope to go public by yearend. But how might the market receive these deals with so much uncertainty surrounding the GSEs?
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Shellpoint Scraps Jumbo MBS Due to Better Whole Loan Execution

October 22, 2013
Brandon Ivey
When in doubt, use the whole loan market. Shellpoint Partners is giving up, for now, trying to issue a jumbo MBS.
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FHA Share of Home-Purchase Financing Tumbles

October 22, 2013
Brandon Ivey
FHA mortgages were used to finance 22 percent of home purchases in September, based on the three-month moving average.
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