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A Ton of Servicing Deals Hit the Auction Calendar. Can They All Get Done?

April 6, 2016
Paul Muolo
One servicing broker had this to say about the all the new offerings: “There’s a lot of deals out there now – and they seem to be getting done.”
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Equifax, Experian Top the CFPB Complaint List; Mortgage Gripes Down

April 6, 2016
Thomas Ressler
Total gripes to the bureau slid 5.0 percent in the first quarter and were off 3.0 percent on an annual basis...
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Consultant Floats Idea: Make Loan Officers Pay for Compliance Costs

April 6, 2016
Paul Muolo
The consultant has seen compliance costs rise, but without a commensurate cut in LO commissions...
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Short Takes: Discover, Liking Mortgages Again? / This Wouldn’t Happen at Yale! / WWWD? (What Will Watt Do?) / Now the Consumer Has the Upper Hand? / Stonegate Hires Alumnus

April 6, 2016
Carisa Chappell and Paul Muolo
FHFA chief Mel Watt is expected to issue a final decree this month…
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$128 Billion of GSE Loans Didn’t Meet the QM Test. The ‘Patch’ Saves the Day

April 5, 2016
John Bancroft
This so-called agency “patch” was set up to last for seven years, or until 2021...
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Nonprime Lender Citadel Intentionally Cuts Production Because of TRID

April 5, 2016
Paul Muolo
Citadel's pipeline is at roughly $150 million.
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Former FTC Official: CFPB Rules Have Driven Small Banks out of the Mortgage Business

April 5, 2016
Thomas Ressler
By imposing a one-size-fits-all mechanical underwriting system for mortgages, the QM rule has deprived community banks of a significant competitive advantage over megabanks, he argued…
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Short Takes: Jumbo MBS Ugly in 1Q16 / More TRID Nightmare Talk / CSS is Hiring / Marketplace Mortgage Continue Expansion / New Hires for WFG

April 5, 2016
Brandon Ivey and Paul Muolo
CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.
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Short Takes: 20 From WJB Land at Supreme / Bad Timing? / Joe Garrett Wants to Hold a CFPB Contest / The State of the TRID Scratch-and-Dent Market / GM&C Hires Former Fannie Mae Veteran

April 4, 2016
Paul Muolo
We also heard one report that earlier in the year a large production group from a competitor jumped ship and joined WJB in January.
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GAO Suggests Congress Give the CFPB More Power. What?

April 4, 2016
Thomas Ressler
Give the CFPB even more power? The GOP likely would not stand for such a thing...
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Latest Imf News

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