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 ...

The Obama administration released its budget proposal for 2017 last week and it illustrates a key challenge to managing reform. How can you phase out the GSEs while at the same time planning to use profits from them? The budget emphasized that the housing finance system must be reformed, and the GSEs should be wound down in order to finish addressing the weaknesses exposed by the financial crisis. The administration’s fiscal 2017 budget proposal estimates that Fannie Mae and Freddie Mac will pay $151.5 billion in dividends to the government over the next 10 years, on top of the $241.2 billion in dividends they already paid as of the end of 2015.

Fannie Mae’s Latest CAS Sells First-Loss Position. Fannie priced its latest credit risk sharing transaction under its Connecticut Avenue Securities series last week. For the first time, it is selling a portion of the first-loss position, further reducing taxpayer exposure to credit losses. To promote additional liquidity, Fannie for the first time sought a credit rating for the M2 notes in a CAS transaction. Servicer Expense Reimbursement Notification. Fannie Mae Expense Reimbursement will be consolidating the available expense reimbursement claim line item categories and subcategories in the Black Knight Financial Services LoanSphere Invoicing Application on March 21, 2016. This update will streamline the claim line item choices in the application for improved consistency in submitting and processing expense reimbursement requests. Freddie Prices...

Although residential originations fell by roughly 15 percent in the fourth quarter on a sequential basis, warehouse lenders saw their commitments inch up slightly, according to new figures compiled by Inside Mortgage Finance. At Dec. 31, warehouse banks had extended an estimated $49.0 billion of commitments to non-depository lenders, a 2.1 percent sequential gain. Compared to yearend 2014, commitment levels rose a handsome 28.9 percent. Part of the reason for the increase in activity – especially year-over-year – can be explained...[Includes one data table]

The bill containing the language on VA loan limits was agreed to by a voice vote on Feb. 9 and was sent to the Senate.

In particular, Watt expressed his concerns about January 1, 2018 when Fannie and Freddie – as promulgated by the U.S. Treasury – are forced to have a capital “buffer” of zero dollars.

Shrinkage? Thanks to the CSP, changes in reps and warrants, cyber security and more, Freddie Mac continues to hire new workers...

The REIT's new broker-dealer unit is now fully staffed and is in the regulatory application process...

RPM Mortgage has acquisitions on its mind once again and could be an aggressive buyer of other lending shops this year, according to industry advisors – if only falling interest rates didn’t get in the company’s way. It was originally thought that 2016 could be a robust year for mortgage mergers-and-acquisitions activity, but tumbling interest rates are making some owners think twice about selling – or getting picky about what they’re willing to take. For buyers, the best time to pounce is...

Bill Erbey controls blocks of Ocwen's stock in his own name, but also through limited partnerships and limited liability corporations.