Certain factions of the industry want the CFPB to develop a plan to provide implementation support during a restrained enforcement period following the Aug. 1 effective date.
Originations of mortgages by big banks in the first quarter of 2015 were up strongly compared with a year ago as well as the fourth quarter of 2014. Competition has increased, but mortgage banking income and gain-on-sale margins were relatively strong, according to industry analysts. Five large banks that have reported earnings generated a combined $108.5 billion in mortgage originations during the first three months of 2015. That was up 9.4 percent from ...
Credit unions reported a marked 17.0 percent drop in mortgage originations during 2014, but the industry managed to increase is footprint in the industry, according to a new Inside Mortgage Finance analysis of call-report data. Credit unions originated $117.2 billion of home loans last year, or 9.45 percent of the estimated $1.240 trillion in total mortgage originations. Their aggregate lending volume was down about half as much as the overall market decline from ... [Includes two data charts]