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What We’re Hearing: How Large Might Those TRID Fines Be? / A Jumbo Lender on Fire: loanDepot / Some LOs are Making $5 Million a Year? / And Now a Few (Mortgage) Words from George W. Bush / Ocwen, the ‘Trade’ of the Century? Huh?

May 29, 2015
Paul Muolo
“These are serious loan officers,” he noted. Just how serious? According to the show’s website, some of the top producing LOs in attendance earn between $500,000 and $5 million…
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Buyers Continue to Hunt for Mortgage Firms; Blackstone Still Pursuing PMAC?

May 28, 2015
Although no “large” mortgage companies have changed hands in quite some time, investor interest in small to medium-sized lenders remains strong as banks, private-equity funds and nonbanks continue to show their interest as buyers. Since last fall, at least 25 deals have been publicly disclosed, according to sales tracked by Inside Mortgage Finance, but none of the originators have been larger than $4 billion a year in production. According to interviews conducted over the past week with investment banking advisors, in the months ahead lenders that originate between $500 million to $2 billion a year are...
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Brokers Continue ‘Comeback,’ Post Highest Market Share Reading Since 2010

May 28, 2015
John Bancroft
Mortgage brokers facilitated an estimated $39.0 billion of home mortgages during the first three months of 2015...
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FHFA Ready to Hike Conforming Loan Limits?

May 28, 2015
Brandon Ivey
The regulator said it plans to use its “expanded data” house price index to determine adjustments for conforming loan limits.
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250-Plus Members of Congress Tell the CFPB’s Cordray to Ease Up on TRID

May 28, 2015
Thomas Ressler
The lawmakers join a growing chorus of mortgage professionals calling for an ease on tight enforcement of the TILA/RESPA Integrated Disclosure rule.
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Doesn’t Sound Like Fannie Mae Will Offer its Automated Underwriting System for Free

May 28, 2015
Paul Muolo
It stands to reason that by waiving the charge that Freddie might take in less revenue, but a GSE spokesman said as a financial matter, “it’s not material.”
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As Ocwen Shuts Houston Platform, Hiring in India (Overseas) Booms

May 28, 2015
Paul Muolo
In total, almost 72 percent of all Ocwen employees are domiciled overseas where labor costs are much cheaper.
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Short Takes: Wells Fargo Now #2 in Iowa / Why We Really Need the CSP / What Does Fannie Mae Charge? / First Niagara Under HUD’s Microscope

May 28, 2015
John Bancroft, George Brooks, and Paul Muolo
The former analyst said Freddie has “an inferior security [MBS] necessitating the need for a lot of time and expense to create a common securitization platform…”
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Warehouse Market Heats Up – Thanks to Refis and Market Surge by Nonbanks

May 27, 2015
Paul Muolo
Moreover, 12 of the top 20 originators are now nonbanks, all of which rely heavily on commercial banks for warehouse credit
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California Has a Huge Gain in GSE Business: Up Almost 70 Percent

May 27, 2015
John Bancroft
Texas and Florida, the second- and third-largest sources of GSE business, both saw solid gains from a year ago...
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