Mortgage industry participants are encouraged by a bipartisan bill introduced in the House last week that would provide a temporary license for loan originators transitioning from a bank to a nonbank or between states. H.R. 2121, from Rep. Steve Stivers, R-OH, would change the Secure and Fair Enforcement for Mortgage Licensing Act to allow for a temporary transitional license and give loan originators 120 days to pass testing standards for nonbank LOs when transitioning from a bank or between states. “The SAFE Act inhibits...

Compliance attorneys are urging mortgage lenders to reevaluate their lending policies and practices to ensure they are not biased against any protected groups even as the Consumer Financial Protection Bureau warned about increased focus on fair lending and redlining in 2015. In their analysis of the CFPB’s recent report on fair lending, attorneys with the Washington, DC, law firm K&L Gates warned that the bureau will increase its scrutiny of mortgage lending amid growing concern about redlining, or refusal to lend to certain groups of borrowers or neighborhoods. Attorneys Melanie Brody and Anjali Garg said...

Mortgage servicing rights are playing an important role in how mortgage lenders finance their businesses, experts say, and a more balanced MSR market is expected this year despite persistent regulatory concerns and worries about high servicing costs. It was clear from a panel discussion at the Urban Institute this week that MSRs have grown in importance as a form of collateral and that it continues to divide lender/servicers and consumer advocates. Overall, six panelists agreed that certain reforms are needed if the market expects to thrive in the current environment. Stephen Fleming, senior vice president with Phoenix Capital, expects...

Now that brokers are gaining traction, the big question becomes: how much more market share can they gobble up?

Fun fact: First Republic was the only bank among the top five contributors to jumbo MBS issued in the first quarter.

Among all FHA originators, Bank of America ranks eighth nationwide, based on January figures...

Such disclosures also should show whether the LO has passed the SAFE Act test.

Deephaven's website boasts that it helps “aspiring” homeowners “purchase homes as soon as one day after foreclosure or short sale.”

As the TRID deadline approaches industry anxieties are getting stronger and more specific in nature.

Redwood posted just $2 million in income from residential mortgage banking activities in the first quarter.