Will a potential residential mortgage customer bolt Wells Fargo because they can’t trust the bank’s employees, including its retail loan officers?

All of the second-quarter increase can be attributed to Bank of America, which reported $372.0 million in repurchases for the period – up $67.0 million from the first quarter.

Fannie and Freddie could top last year’s $824.8 billion in single-family MBS issuance by the time 2016 is over…

However, the sample deal agent agreement doesn’t address one of the remaining controversial issues: how much to pay for their services.

Industry trade groups have yet to weigh in on the CFPB’s TRID clarifying rulemaking, but the grassroots rank-and-file have, and many of them are raising more concerns and questions. For instance, Ross Miller, president of Miller Home Mortgage in Metairie, LA, complained that there are no exceptions for the three-day waiting period when there is an emergency. “I had a client whose father was quickly scheduled for open heart surgery,” he said in a comment letter. “The client was ...

The CFPB’s Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rule has been blamed for a lot, including, most recently, producing more defects in mortgage loans. According to a new industry trends report from ACES Risk Management Corp. (ARMCO), a provider of web-based audit technology solutions for the mortgage industry based in Pompano Beach, FL, the industry experienced “a significant decrease in defects” through the second quarter of 2015. However, ...

It’s been almost a year now since the CFPB’s integrated disclosure rule went into effect, and industry participants across the credit spectrum appear increasingly comfortable with the new disclosure regime. But when it first came out, the rule took all the oxygen from the room and caused more fear and anxiety that, in retrospect, appears to be have been justified, according to a handful of experts in the non-prime mortgage origination space. Speaking during ...

H.R. 5983, the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs) Act by Rep. Jeb Hensarling, R-TX, chairman of the House Financial Services Committee, has incorporated the provisions of a number of bills that have either already passed the committee or the full House of Representatives and that would affect ...

The CFPB recently provided some written guidance on its mortgage rules to the Conference of State Bank Supervisors. The guidance, in the form of a letter, highlights some of the important changes to the mortgage rules that likely apply to many of the small lenders that CSBS members supervise. The letter, a copy of which was obtained by Inside the CFPB, came in response to a meeting this spring between Texas Department of Banking Commissioner and CSBS Chairman Charles Cooper, members of the ...

Even Under Trump, Would the CFPB Be Invincible? If businessman Donald Trump wins the White House in November, the CFPB would be in the Republican’s crosshairs for sure. But the bureau’s recent consumer fraud case against Wells Fargo for opening up roughly two million deposit and credit card accounts without authorization has caused such outrage nationwide that it may very well give the controversial regulator a “shield” of sorts. At least that’s what we’ve been…