Legislation was passed earlier this year to curb abuses tied to VA rapid refis but lender violations remain an issue. At least, that’s how the VA sees it. Big audits may be in the works.
Based on reports from non-QM lenders Angel Oak and Citadel, the third quarter was a strong one for most originators. Meanwhile, the Ditech wind-down is almost over.
Will the FHFA trim cash-out refis by Fannie Mae and Freddie Mac? For now, all is quiet on the topic. In other news: HUD ushered in new regulatory changes for FHA condo financing, making it easier for borrowers and lenders.
One of the best kept secrets in the industry surrounds CEO compensation at the nation's largest nonbank originators. According to interviews conducted by IMF, some CEOs earn $10 million to $15 million per year.
The MBA and ABA made recommendations to strengthen practices and procedures of FHA’s loan-asset sales as the agency moves to make the program permanent.
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