Broker Group Says ‘Hidden’ LLPAs, G-Fees Should be Disclosed to the Borrower July 12, 2016 Thomas Ressler Should the industry be concerned if the borrower finds out about LLPAs? Read More
‘Portfolio QM’ Proposal from GOP Faulted by Consumer Advocate, Praised by Lenders July 12, 2016 Brandon Ivey The president and CEO of the Credit Union National Association countered that the current limitations on QMs may disqualify creditworthy members from obtaining a mortgage.Read More
Good News for Borrowers and Lenders: Home Equity Nears Its All-Time Peak July 12, 2016 Sherry Muolo One other finding from Black Knight: roughly $75 billion in home equity has been extracted from residences over the past 12 months…Read More
Loan Broker Employment Highest in Almost Eight Years July 12, 2016 Paul Muolo The only major bank to rank among the top five table funders in 1Q16 was U.S. Bancorp with a 4.1 percent market share.Read More
SoFi Contemplating a Jumbo MBS Deal? July 12, 2016 Paul Muolo To date, SoFi has talked little about its mortgage business…Read More
Short Takes: Mortgage Bankers Cut Jobs / OCC Expresses Anxiety over Commercial Banks and TRID / CRE Worries Too / Freddie Expands Re-performing Loan Effort / BB&T Promotes Campbell July 12, 2016 Carisa Chappell and Paul Muolo Although commercial banks are making money hand-over-first these days, that doesn’t mean national bank regulators shouldn’t worry. Read More
Red-Hot California Market Gave a Boost to GSE Jumbo, Broker Share in 2Q16 July 11, 2016 John Bancroft The surge in California business helped boost the national broker share to 12.5 percent of GSE volume during the second quarter… Read More
Redwood Adjusts QC Process for Reviewing Jumbo Originations, Prompting Criticism from Moody’s July 11, 2016 Brandon Ivey Redwood believes the new QC process creates a much larger sample size and a more efficient loan quality feedback loop ... Read More
Six Senators, Including Corker and Warner, Advise FHFA’s Watt Against ‘Release’ of the GSEs July 11, 2016 Carisa Chappell and Paul Muolo Recently, several trade groups and community organizations have called on Watt to allow Fannie and Freddie to rebuild their capital buffers ...Read More
Moody’s Will Review PHH for Loss of Other Private-Label Customers as Well July 11, 2016 Paul Muolo “Given the review for possible downgrade, it is unlikely that the company’s ratings will be upgraded,” said Moody’s.Read More