Although the TRID bill passed by a huge margin and with bi-partisan support, President Obama is threatening a veto.

“The issues that have impeded the regulators’ ability to conduct electronic examinations must be rectified, and when resolved, will enable a more efficient and timely regulatory process,” said Karyn Tierney, chair of the MMC.

Fear and loathing over marketing service agreements heats up. Kickbacks?

One technology source told IMFnews: “I know a few LOS [providers] that are still correcting payment calculations.”

Sources told IMFnews that one large loan origination system (LOS) vendor was struggling to make programming deadlines ahead of the TRID rule, a situation that had caught the attention of the CFPB.

One industry observer who anticipates a big-margin vote indicated he expects the bill will split rank-and-file Democrats from their leadership caucus.

One source, angered by Cordray's comments, said, "No, Mr. Director. Those concerns have eliminated non-QM loans, which come with protection against frivolous lawsuits. That’s why no one except a perfect borrower can get a loan…”

With loan quality and real estate values continuing their rapid improvement over the past two years, the market value of “high-touch” servicers continues to head south and a handful of such firms are pondering sales. According to advisors that ply their trade in the mergers and acquisitions circuit, at the top of the “for sale” list is the IBM-owned Seterus, which at one point had at least $40 billion in problem Fannie Mae-related loans on its system. But will IBM – which also has its hands in the origination technology arena – finally pull...

The Texas Republican blamed the CFPB and DFA for raising prices and “cutting off" access to mortgages…

Most of Ocwen’s back-office workers are overseas in India and the Philippines where call center workers make much less than their U.S. counterparts.