In the wake of a recent Supreme Court of the United States decision allowing loan officers to receive overtime pay, mortgage company owners are already laying down the law: no OT for LOs unless management approves the extra time first. The freshly decided case is causing lenders to distinguish between “inside” and “outside” salesforces. According to early interpretations of the decision, loan officers who work in a branch more than half their time are ...

More than a year after standards for qualified mortgages took effect, a number of lenders are willing to offer non-QMs, but production has been concentrated on affluent borrowers. Lenders seem less willing to offer non-QMs to borrowers with lower credit scores or higher loan-to-value ratios. For the past year, Nationstar Mortgage has been working toward offering a non-QM refinance product. The loan would target non-agency borrowers in the nonbank’s large servicing ...

In total, 16 groups signed the letter, including the American Bankers Association, the Community Mortgage Lenders of America, and the National Association of Realtors...

The Consumer Financial Protection Bureau’s proposal to significantly expand the regulatory requirements related to successors in interest poses legal risks, threatens personal privacy and could foster instances of fraud, mortgage industry officials said. The provisions related to successors in interest are part of a package of proposed amendments to the bureau’s 2013 mortgage rules under the Real Estate Settlement Procedures Act and the Truth in Lending Act ...

Another possible outcome on g-fees is no change at all. To date, FHFA Director Mel Watt hasn’t tipped his hand.

Meanwhile, HLSS on Wednesday disclosed that it too needs more time to file its annual 10-K...

Subprime lender Deephaven Mortgage has a new executive...

A ban on captive insurers joining the FHLB system appears to be over.

The captive insurer is owned by a REIT, a spokeswoman for the district bank said, but declined to name either.