It’s safe to say that many mortgage CEOs and their attorneys are cheering on Quicken. It’s not often that a lender fights back this strong against the government in an FHA.
Rising interest rates – as long as they don’t rise too much – could spark a boom in servicing sales, predicted Tom Piercy of Incenter Mortgage Advisors.
-“While plaintiffs did not begrudge defendant a reasonable time to review the court’s decision, it is apparent that the defendant has now settled on a legal strategy but is unwilling to disclose that strategy to the extent doing so would require it to produce documents prior to the D.C. Circuit’s anticipated ruling,” Fairholme argued in court papers.
Some of the public comments submitted to the CFPB regarding its TRID 2.0 clarifying rulemaking highlight tensions and rivalries that have emerged between different factions in the homebuying and mortgage-making industry since the original integrated disclosure rule took effect. In its comment letter on the bureau’s proposal, one point of emphasis that JPMorgan Chase raised is that lenders need better cooperation from settlement agents. “The success of the rule largely depends on the collaboration of a…
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