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HUD Offers $1.7 Billion of NPLs; Auction Marks First ‘Set-Aside’ for Non-Profit Bidders

September 2, 2016
Brandon Ivey
HUD has been criticized by consumer advocates who feel the agency's NPL auctions have unfairly benefitted private equity firms and hedge funds at the expense of troubled borrowers.
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Can PHH Be Sold Before More Problems Surface?

September 2, 2016
Paul Muolo
In a recent SEC filing, PHH disclosed that the bloom is now off the rose when it comes to being a private-label vendor…
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What We’re Hearing: MBA’s Dave Stevens Said What? / But First, an Explanation / The MID Costs but it Also Creates Jobs. Sort That One Out / Militant Backers of the Tax Deduction

September 2, 2016
Paul Muolo
Proponents of the mortgage interest tax deduction point out that the real estate and mortgage industries employ thousands upon thousands of workers with spillover to other sectors...
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A Major Headache in Progress: A Shortage of Appraisers

September 1, 2016
Brandon Ivey
Appraisals are running 15-20 days out due to the busy market, said a real estate agent in Michigan…
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Luther Burbank of California Pushing Non-QM Jumbos

September 1, 2016
Brandon Ivey
Some of Luther Burbank’s borrowers are more than 40 years old and receive financial support from their parents.
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Life Under TRID: Delays Ease, Costs Rise, Smaller Loans Less Desirable

September 1, 2016
Thomas Ressler
Originators were asked if TRID has affected their willingness to originate small loans. Roughly 53.8 percent said “no change,” while 46.2 percent said “yes, moderately.”
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NFHA Piles on Foreclosure-Related Accusations Against BofA. Zika Allegations Too. BofA Disputes the Charges

September 1, 2016
Brandon Ivey
The consumer advocate charges that BofA is exacerbating the risk of spreading the Zika virus in South Florida…
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Short Takes: ‘Fix n Flip’ Lender Jordan Should Have a Record Year / Help Wanted: SVP of Sales / Nonprime Retail Firm Angel Oak Continues Expansion / Declining MSRs at Prospect Mortgage / Luther Hires Former Finance of America Official

September 1, 2016
Paul Muolo
Retail nonprime/non-QM originator Angel Oak Home Loans is continuing its national expansion...
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HUD Updates Single-Family Property Disposition Regulations

September 1, 2016
George Brooks
The codified changes include limiting the provision of settlement-cost assistance to owner-occupants.
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TRID Compliance Issues Disclosed on New Nonprime MBS from Angel Oak, Deephaven

September 1, 2016
Brandon Ivey
The originators believe they made a good-faith effort to address all TRID violations through the issuance of revised disclosures…
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