A ‘Scratch and Dent’ Market Develops for VA ‘Orphan’ Loans June 27, 2018 Paul Muolo Some warehouse lenders are nervous about the VA ‘orphan loan’ mess as well, sources told Inside Mortgage Finance…Read More
CDFI-Designated Lender Inks Deal to buy Oregon Retailer LoanStar. Buyer will Beef Up Non-QM Production June 27, 2018 Paul Muolo LoanStar was founded five years ago by industry veteran Mike Baldwin…Read More
A Decline in FHLB Advances. Big Drops for JPM and Wells June 27, 2018 Carisa Chappell The figures show that compared to the first quarter of 2017, both JPM and Wells greatly reduced their FHLB borrowings…Read More
Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down June 27, 2018 Paul Muolo, George Brooks, and Carisa Chappell FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."Read More
A Spike in Fannie Mae Loan Repurchases June 26, 2018 John Bancroft Virtually all of the repurchase activity is now focused on newer production.Read More
Impac Partners with Commercial REIT Starwood on Non-QM Loans June 26, 2018 Paul Muolo Starwood began acquiring non-QM loans last fall using Federal Home Loan Bank advances...Read More
CFPB Closes RESPA Violation Case Against Zillow June 26, 2018 Paul Muolo In the spring of 2017, it came to light the bureau would take legal action against Zillow... Read More
Movement Mortgage Opts for Crowdsourcing for LO App June 26, 2018 Brandon Ivey Movement gave tech developers eight weeks to develop a prototype…Read More
Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official June 26, 2018 Paul Muolo Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…Read More
Wells Fargo Cuts 100 Workers at South Carolina Location June 25, 2018 Paul Muolo Applications have picked up in April, May and June but firms that focused too heavily on refis are now feeling the heat.Read More
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