Short Takes: IRS Cranks Up the IVES Machine Again / Otting at FHFA, Day 1 / AltLoan Enlists a New Capital Markets Partner / 45 Percent Plan to Enter the Non-QM Space This Year / Academy LO Joins Bay Equity Home Loans January 7, 2019 Paul Muolo and Brandon Ivey Roughly 45 percent of respondents said they definitely will enter the the Non-QM market this year.Read More
Democrats on the HFSC Seek FHA Loans for DACA Recipients January 7, 2019 George Brooks Although HUD has voiced its opinion on the eligibility of DACA recipients informally, no official, definitive pronouncement has been issued – to the consternation of lenders.Read More
What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director January 4, 2019 Paul Muolo One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus... Read More
Government Shutdown has Little Effect on FHA/VA Loan Programs (So Far) January 4, 2019 George Brooks No disasters have been reported yet, but some lenders are beginning to worry...Read More
Short Takes: The First Mortgage M&A Deal of the Year? / Mnuchin is Aware of the IRS Tax Transcript Problem / Will Government Workers Miss a Mortgage Payment? / Happy New Year from President Trump: Your Pay is Frozen / Tom Selleck Keeps Pitching HECMs / Ce January 3, 2019 Paul Muolo Celink, a servicer of reverse mortgages, has agreed to pay the federal government $4.25 million for violating the False Claims Act...Read More
Short Takes: A Government Shutdown-Related Reminder from Fannie Mae / A Fundraising Record for MBA’s MORPAC / Rising Worries, Falling Rates / Nervous / AI Gets a New (Annual) President January 2, 2019 Paul Muolo and Brandon Ivey At press time, the yield on the benchmark 10-year Treasury was at 2.67 percent, the lowest reading in almost 12 months…Read More
Loan Officer OT Pay Case Sent Back to Lower Court, Dealing a Blow to LOs January 2, 2019 Brandon Ivey According to the ruling by the appeals court, Citizens pays its LOs $11.50 an hour along with commissions based on volume…Read More
Analysts Positive on VA’s Interim Rule on Cash-Out Refis, but… December 31, 2018 George Brooks The rule creates two types of cash-out refinances…Read More
Employee Satisfaction at the CFPB Plunges December 31, 2018 Yemeng Yang A CFPB spokesperson said that 2018 was, no doubt, “a tumultuous year of great change.”Read More
Short Takes: Worrying About the IRS / NRMLA Talking to Members about the HECM Situation / Most Underwriting Can Continue / Mnuchin’s Future / OCC Hires SBC Attorney December 31, 2018 Paul Muolo Capital Alpha Partners: “Mnuchin’s job is in danger the same as any cabinet member under Trump...." Read More
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