Fresh off of agreeing to buy California-based First Priority Financial, Caliber Home Loans is eyeing the purchase of other mortgage firms as well in an attempt to crack the top 10, according to industry advisors who have been tracking the firm. “Caliber is talking to a lot of people,” said Rick Roque, managing director of MiMutual Mortgage, Port Huron, MI. Roque declined to elaborate. One investment banker said...
A final rule issued last week by the Department of Labor updating overtime regulations for white collar employees didn’t include many concessions called for by mortgage industry participants. The final rule sets the standard salary level for exempt executive, administrative, professional, outside sales, and computer employees, referred to as EAP employees, at the 40th percentile of weekly earnings of full-time salaried workers in the lowest-wage Census Region. The final rule effectively doubled the salary white collar workers must be paid to be exempt from receiving overtime pay for working more than 40 hours a week. The new standard will result...
Roofing and attic inspections, verifying whether a pool is operational and safe to use, checking sump pumps for any deficiency and checking crawl spaces elicited groans from appraisers...
Litigation settlements, of course, have played a role in the resurgence in profits at Fannie Mae and Freddie Mac, though the legal gravy train is just about over for those two.
The housing bubble did in fact burst and I don’t recall Trump making any money off of it unless he did so through private investments that none of us know about...
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