New York State Aligns State Law With TRID. New York Gov. Andrew Cuomo, D, recently signed into law Senate Bill S982, legislation that tweaks the existing state legal definition of the “consummation” of a mortgage loan to synchronize with the Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure Rule promulgated by the CFPB.... Industry Need to Get TRID-Compliant Boosts DocMagic’s Bottom Line. Industry vendor DocMagic, based in Torrance, CA, late last week reported a 42 percent increase in revenue for 2016, due in large part to industry demand for products that enable compliance with the CFPB’s Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure Rule, otherwise known as TRID....

Compared to the fourth quarter of last year, mortgage complaints declined by 14.8 percent.

Single-family volume was down from the unusually high level in the fourth quarter of last year…

Moody’s notes that the privately held Quicken Loans has strong profitability “due to its solid franchise position and strong capital levels…”

UWM is the nation’s largest table funder in the nation, followed by Caliber Home Loans and Stearns Lending, according to a full-year 2016 ranking from Inside Mortgage Finance…

Cowen assigns a 65 percent probability to a GSE bill becoming law next year…

Nonbank mortgage lenders have been killing it in the GSE market in recent years, even gaining a dominant 52.3 percent share of new single-family business back in the second quarter of 2016. Recently, however, not so much. A new Inside The GSEs analysis reveals that nonbanks sold 45.0 percent of single-family loans securitized by Fannie Mae and Freddie Mac during the first quarter of this year. That was the third straight decline in nonbank share of the GSE market.While total Fannie/Freddie MBS issuance fell 27.1 percent from the fourth quarter, nonbank production was off 32.5 percent. And surprisingly, large banks picked up most of the slack.

Fannie, Freddie and Ginnie securitized $156.80 billion of refi loans during 1Q17, down 35.1 percent sequentially, according to Inside MBS & ABS.

One GSE watcher called it, "The biggest company quarterly profit since the Roman Empire, adjusted for inflation of course.”

Single-family business at Fannie Mae and Freddie Mac fell sharply in the first quarter of 2017 and the wholesale-broker channel bore much of the brunt of the decline. The two government-sponsored enterprises issued $218.2 billion in new single-family mortgage-backed securities during the first quarter, a 27.1 percent drop from the final three months of 2016. But a new Inside Mortgage Trends analysis reveals that the supply of mortgages originated ... [Includes two data charts]