The FHA has posted a quick-reference sheet on its website to help lenders navigate the agency’s new Loan Review System. The quick-reference sheet summarizes the most important information in the LRS user manual. The LRS is an electronic platform for single-family, quality-control processes that includes post-endorsement loan reviews, direct endorsement authority test cases, lender-monitoring reviews, and lender-self-reporting of fraud and other material findings. Defect taxonomy, a key LRS component, provides a streamlined method of identifying and capturing information about loan defects uncovered through individual loan reviews. Lenders have four opportunities to respond to FHA reviews. They may access the LRS to view the results of the review in detail but they may not edit or submit responses, upload documents, manage binder requests or create self-reports. When FHA requests a ...

In a blog posting midweek, attorney Barbara Mishkin of Ballard Spahr says it appears Cordray will not resign before Labor Day…

Even if the feds ease up on regulation, the states will continue to be vigorous…

The Fed just greenlighted a bank M&A deal...

Meanwhile, net servicing income fell to $27 per loan in 2Q17 from $225…

Another source added: “Eli’s interest in the industry is legit. They want to buy and hold companies.”

Cowen & Co. predicts that storm damage caused by the hurricane could “encourage” lender consolidation…

Late last year, IBM bought Ludwig’s Promontory Financial Services advisory firm, but the former OCC chief kept two divisions: Promontory MortgagePath LLC and Promontory Interfinancial.

So, how is the program doing? A spokesman for UWM said 40 firms were created with the first round of seed money and all are still in business.

In aggregate, banks and thrifts earned $3.72 billion from mortgage banking activities during 2Q17…