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Bank ABS Holdings Slide Lower in 3Q18

November 30, 2018
John Bancroft
Bank investment in ABS backed by commercial and industrial loans grew by 30.6 percent from the midway point in the year.
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Seasonality and Higher Rates Spell Layoffs for Many

November 30, 2018
Paul Muolo
Mortgage recruiter Rick Glass: "Expenses are simply out of alignment. Many shops are telling me they have no more room."
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What We’re Hearing: CNBC ‘Mad Money’ Host Cramer Slams Nonbanks / Questionable Research? / Dan Gilbert of Quicken Fires Back / The Counter-Hedge of Mortgage Servicing Rights / It’s LO Recruiting Season, Pull Out the Check Book / Prestwick MSR Auction / El

November 30, 2018
Paul Muolo
Did CNBC's Jim Cramer do any research on the mortgage industry before he opened his mouth?
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Regulators Propose Higher Appraisal Threshold

November 30, 2018
Federal regulators last week proposed a significant expansion in the number of non-agency mortgages that will not need a full appraisal. Currently, non-agency mortgages with loan balances of less than $250,000 don’t need an appraisal if originated by a bank. The regulators proposed increasing the threshold to $400,000. Mortgages below the appraisal threshold still require an evaluation, just not a full appraisal. Banking regulators said the proposal is an effort to reduce ...
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FHA Updates EAD System, Other Appraisal-Related Components

November 30, 2018
The FHA has announced plans to improve the web-based system lenders use to submit appraisal reports to the agency.
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Around the Industry

November 30, 2018
Congress approves flood insurance extension, FHFA announces 2019 conforming loan limits, and the VA offers password-reset guidance for servicers.
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MBA: Origination Profits Down 48.3 Percent from a Year Ago

November 29, 2018
Brandon Ivey
Lenders and their warehouse providers have been openly worrying about thinning profit margins for several quarters now with liquidity a primary concern.
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Former CFPB Deputy Director Raj Date Joins a Fintech Company

November 29, 2018
Yemeng Yang
At one time, Date headed Ethos Lending, a non-QM lending affiliate of Fenway.
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Short Takes: News Soon from Trump on the FHFA Job? / A Place-Holder / A Bright Spot, If You Can Find One / The Better Question Might Be: Who Isn’t Going Digital? / Upcoming: CFPB Advisory Board Meeting

November 29, 2018
Paul Muolo and Yemeng Yang
Joseph Otting would not be the permanent director but would be a place-holder until...
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Guaranteed Rate Buys Assets of Two Hawaii MBs. Details are Sketchy

November 28, 2018
Paul Muolo
The Chicago-based GR has been making loans in Hawaii since 2015…
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