Reversing at least temporarily a long-running trend in the mortgage market, the four biggest banks in the U.S. expanded their presence in the GSE single-family market in the third quarter of 2016...
The traditional interpretation of Section 8 of the Real Estate Settlement Procedures Act that the mortgage industry has relied on for decades was vindicated this week when ...
Not only are commercial banks continuing to lose residential production market share, but it appears they are paying their retail loan officers less than nonbanks – a lot less. According to more than a dozen interviews conducted with executives and LOs at originating firms with different charters, some nonbanks are allowing for compensation plans that pay the originator upwards of 200 basis points. At banks, the best LO comp plan is 100 bps, Inside Mortgage Finance found. One bank mortgage manager, who spoke under the condition his name not be used, said...
“It is critically important for the GSEs to develop and implement additional CRT structures that are accessible to lenders of all sizes and business models in order to avoid reconcentration of the origination and servicing market,” writes MBA President Dave Stevens.
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