TRID Projected to Cost Mortgage Industry $527 Million a Year January 7, 2015 Thomas Ressler Elsewhere, Batkins projects compliance with all of the CFPB's 2014 regulations to cost the financial services industry $2.1 billion. Read More
California Still Loves Loan Brokers – A Lot January 6, 2015 John Bancroft Mortgage brokers originated 21.3 percent of Golden State mortgages during the first nine months of the year...Read More
Short Takes: Ocwen Clocked Again / New Mortgage Blood? / What’s Next for Sig Anderman? / WaMu Lives, Well Sort Of / Auction.com Sees Possible Shift in CRE January 6, 2015 Paul Muolo and Brandon Ivey “There’s a lot of 60- and 70-year old mortgage managers out there.” Read More
Fitch: Progress Slow on Needed Changes for Non-Agency MBS January 6, 2015 Brandon Ivey Potential actions by regulators also give non-agency MBS investors cause for concern. Read More
Short Takes: Obama Again on GSE Reform / Newly Minted MBAs Hate Mortgages? / Guild Goes HLTV / An ATR for Payday Loans? / John Adams Settles FHA Charges January 5, 2015 Paul Muolo and Brandon Ivey Are recent graduates of business schools avoiding the mortgage industry?Read More
Golden First Owner Banned from Government-Related Mortgage Business January 5, 2015 George Brooks In addition to the $36 million judgment against Golden First, Movtady was ordered to pay a $300,000 penalty within six months.Read More
Mortgage Sales by Depositories Spike 25 Percent January 5, 2015 John Bancroft In 3Q the top seller of mortgages into the secondary market was Wells Fargo with $39.29 billion, a 12.7 percent sequential improvement.Read More
Yet More Mortgage Charges for SunTrust, This Time for $145 Million January 5, 2015 Brandon Ivey SunTrust wouldn’t comment on the charge other than to note that the issue has been previously disclosed.Read More
What We’re Hearing: The Top Mortgage Stories of 2014: A Kinder, Gentler FHFA; The Ocwen Disaster; Nonbanks (Except for Ocwen) Continue to Thrive; The End of QE; A Mortgage M&A Boom in Miniature; The FHA MMIF Returns to the Black… January 2, 2015 Who knows, maybe Mel Watt will allow Fannie and Freddie to build retained earnings. (Don’t bet on it, but it’s an issue worth debating.)Read More
Short Takes: PHH May Unveil Renegotiated Private-Label Deals Soon / LOs are Hot, Mortgage Executives Are Not? / NPL Sales Weak of Late? / Large Wholesaler Enters 3% Down Market / Pingora Rocks in MSRs December 31, 2014 Paul Muolo According to Rick Roque, who heads MenloGlobal, “for the most part, executive level opportunities are stagnant, unless production comes with it."Read More
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