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What We’re Hearing: TRID, a Major Crisis? / Will Public Mortgage Firms Answer the TRID Question? / Commercial Bank Rejects Most TRID Loans / Genworth, PennyMac Hit 52-Week Lows / CMLA Lists Its Priorities

January 8, 2016
Paul Muolo
Then again, we also hear reports that the worst of the TRID mess will be over by the end of February…
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Fannie/Freddie MBS Issuance Down Sharply in 4Q; Full Year Numbers Strong

January 7, 2016
John Bancroft
Freddie managed a bigger annual increase over 2014 levels than Fannie did, thanks in part to its more active program in securitizing seasoned loans.
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Industry Has Sit-Down with Cordray over CFPB’s TRID Rule

January 7, 2016
Thomas Ressler
Among the key TRID issues identified: continued software glitches, systems issues and confusion among technology vendors...
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After Reorganization, Impac Sees Increase in Correspondent Volume; Nonbank is in a Hiring Mode

January 7, 2016
Brandon Ivey
Impac Mortgage is currently recruiting sales and operational personnel...
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More Office Consolidation for Fannie Mae, This Time in Texas

January 7, 2016
Carisa Chappell
As for potential layoffs, the government-controlled mortgage giant declined to comment.
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Short Takes: S&P Maintains Ratings on Quicken / How About $500 Million? / Seterus a Buyer of MSRs from Ocwen / Five Oaks Ends Repo Deal with BofA / JPM Names Muriungi New Servicing Chief

January 7, 2016
Paul Muolo
The IBM-owned Seterus has been buying mortgage servicing rights from Ocwen Financial...
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GSE Business Volume Slumped in 4Q15 as Purchase-Mortgage Market Hit Seasonal Skid

January 7, 2016
New issuance of single-family mortgage-backed securities by Fannie Mae and Freddie Mac fell sharply in the fourth quarter of 2015 despite a December rebound in monthly volume, according to a new Inside Mortgage Finance analysis and ranking. The two government-sponsored enterprises issued $179.01 billion of single-family MBS during the final three months of 2015, a 19.9 percent drop from the third quarter. It was the weakest level of new business for the GSEs since the second quarter of 2014. A faltering purchase-mortgage market was...[Includes three data tables]
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TRID Phobia Causing Headaches in the Secondary Market? MBA Cites a 100 Percent Rejection Rate by One Investor

January 7, 2016
Although the Consumer Financial Protection Bureau recently issued a “clarifying” letter on errors tied to the so-called TRID integrated disclosure rule, deep concerns remain among originators that fund non-agency product for sale into the secondary market. Moreover, according to interviews conducted by Inside Mortgage Finance over the past week, some nonbank lenders are seeing noticeable increases in origination costs because loans are taking longer to close and therefore remain on warehouse lines for an extended period of time. Because nonbanks fund almost all of their production using warehouse credit, the implication boils down...
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JPM Continues to Dominate (By Far) as a Securitizer of USDA Loans

January 6, 2016
George Brooks
Chase’s nine-month USDA volume translated into a 31.0 percent market share.
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Mortgage CEO: ‘TRID Cost Us $500K in Profits’ Last Month

January 6, 2016
Paul Muolo
This CEO called the letter a "godsend."
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