Reversing at least temporarily a long-running trend in the mortgage market, the four biggest banks in the U.S. expanded their presence in the GSE single-family market in the third quarter of 2016...
The traditional interpretation of Section 8 of the Real Estate Settlement Procedures Act that the mortgage industry has relied on for decades was vindicated this week when ...
A total of $12.41 billion of non-agency MBS were issued during the third quarter of 2016, according to a new Inside MBS & ABS analysis, but the market continued to ...
ICYMI: The brouhaha over the Wells Fargo phony account creation debacle took another turn this week, with CEO John Stump opting for early retirement...
Further empirical confirmation of a recovering mortgage market continued to accumulate at the CFPB during the third quarter, as related consumer complaints dropped 19.8 percent ...
Executive departures continue to plague due diligence provider Clayton Holdings and now there’s talk that its parent company, Radian Group, is contemplating taking a goodwill charge on a subsidiary it paid $305 million for two years ago. The latest top-level officials to leave the unit include Capital Markets Senior Managing Director Brian Wornow and Mark Hughes, executive vice president in charge of sales and marketing. Sources close to Wornow contend...
Not only are commercial banks continuing to lose residential production market share, but it appears they are paying their retail loan officers less than nonbanks – a lot less. According to more than a dozen interviews conducted with executives and LOs at originating firms with different charters, some nonbanks are allowing for compensation plans that pay the originator upwards of 200 basis points. At banks, the best LO comp plan is 100 bps, Inside Mortgage Finance found. One bank mortgage manager, who spoke under the condition his name not be used, said...
“It is critically important for the GSEs to develop and implement additional CRT structures that are accessible to lenders of all sizes and business models in order to avoid reconcentration of the origination and servicing market,” writes MBA President Dave Stevens.
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