On the other hand, 63 percent said the new forms for loan estimates and closing disclosures were easier to understand...

“Many sophisticated parties have been duped,” said NAR.

The Fair Labor Standards Act spells out the basis for an administrative exemption from overtime pay.

With commercial banks continuing to pare back their role in the mortgage market, nonbanks are aggressively hiring top performers.

The mortgage chiefs at “marketplace” lender SoFi were at the recent ABS Vegas show talking up their business with other lenders...

Independent mortgage banks and mortgage subsidiaries of chartered banks were only able to squeeze out a paltry net gain of $493 on each loan they cranked out in the fourth quarter of 2015, a fraction of the $1,238 generated in the third quarter of 2015, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report. Proximity and correlation are not necessarily causation. But sometimes they are. In this case, TRID probably had something to do with the plunge. “Production profits dropped by over 60 percent in the fourth quarter of 2015 compared to the third quarter,” said Marina Walsh, MBA’s vice president of industry analysis. “With the Know Before You Owe (TRID) rule going into effect last Oct. 3 ...

A Realtor based in California noted that selling prices are generally increasing, but at widely disparate rates based on location...

The Federal Reserve’s Open Market Committee decided this week, as expected, to delay its next rate increase, citing concerns about global economic and financial developments, leaving the federal funds target range at 0.25 percent to 0.50 percent until June at the earliest, according to a consensus of market participants and observers. “Our decision to keep this accommodative policy stance reflects both our assessment of the economic outlook and the risks associated with that outlook,” said Fed chair Janet Yellen after the committee’s two-day meeting concluded Wednesday afternoon. Looking ahead, then, with appropriate monetary policy, the FOMC continues...

There is, however, a 0 to 6 percent fee...

The rash of Fannie Mae and Freddie Mac buyback demands that ravaged the mortgage industry a few years ago continued to ease in the fourth quarter of 2015, according to a new Inside Mortgage Trends analysis of repurchase disclosures by the two government-sponsored enterprises. And although the focus of new GSE buyback demands continues to shift to newer books of business, Freddie still reports a relatively high volume of ... [Includes two data charts]