Currently, employers are required to pay overtime for all employees who make $23,660 or less annually.

“I personally called their line. I didn’t see much difference, to be honest with you,” said Impac executive Joe Tomkinson.

A handful of firms broker TRID scratch and dent loans, including Rincon Mortgage Trading, Mortgage Delivery Specialists and Spurs Capital.

RamQuest-eLynx Integration Enhances TRID Compliance with Automated Data Flow Between Lenders and Settlement Agents. Texas-based RamQuest, a provider of comprehensive title and settlement services solutions, and Ohio-based eLynx, a provider of on-demand web-based compliance services, recently announced a product/service synchronization to help lender and settlement agent clients comply with the CFPB’s integrated disclosure rule known as TRID. “The integration enables lenders utilizing eLynx’s Expedite ID compliance solution to exchange property, fee and loan data electronically with thousands of settlement service providers using RamQuest,” the companies said. “This bi-directional exchange of data simplifies the collaboration required for lenders to generate the Closing Disclosure mandated by the TILA-RESPA Integrated Disclosure rule.” ...

Among the MI standouts: Arch Mortgage Insurance, which had a hefty 108.9 percent increase in traditional flow business...

Impac sold a large block of MSRs in 4Q, which boosted profits.

Mortgage originators selling loans into MBS last week likely were hit with “pair-off” fees from secondary-market investors who were expecting delivery of higher-yielding mortgages, a proposition complicated by the sudden downdraft in rates. As one secondary market executive noted: “A forward sale into an MBS is not a perfect hedge. Then again, nothing is a perfect hedge.” Originators that fund billions of dollars each quarter use...

The proposed fiscal year 2017 Ginnie Mae staff budget will meet current operational needs, but staffing for the long term will have to be reevaluated, according to GNMA President Ted Tozer. Tozer said the proposed agency budget of $23 million for personnel costs, “along with leveraging contractors and carefully prioritizing hires,” will meet the agency’s current needs. However, officials will take a hard look at its staffing requirements “from a long-term, strategic point of view,” he noted. Tozer was reportedly disappointed...

Commercial banks and savings institutions reported an unexpectedly strong $4.515 billion in mortgage-banking income during the fourth quarter of 2015, according to a new Inside Mortgage Trends ranking and analysis of call report data. The industry’s fourth-quarter results represented a solid 18.8 percent increase over the previous quarter, and it brought full-year mortgage-banking income to $18.474 billion – an 11.8 percent gain over 2014 ... [Includes one data chart]

Although lenders like to complain about the new integrated disclosure rule known as TRID, there has been one major benefit for people looking for employment in the mortgage industry: the controversial rule has created jobs at many lending shops. According to managers interviewed by Inside Mortgage Trends the past two weeks, almost across the board, originators have hired new staff to deal with compliance paperwork, the processes and the technology ...