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Industry Has Sit-Down with Cordray over CFPB’s TRID Rule

January 7, 2016
Thomas Ressler
Among the key TRID issues identified: continued software glitches, systems issues and confusion among technology vendors...
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After Reorganization, Impac Sees Increase in Correspondent Volume; Nonbank is in a Hiring Mode

January 7, 2016
Brandon Ivey
Impac Mortgage is currently recruiting sales and operational personnel...
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Walter/Ditech Bolts the Retail Sector; ‘Fewer’ Than 200 Employees Affected

January 7, 2016
Paul Muolo
During the first nine months of 2015, retail accounted for just $400 million of Ditech’s $19.6 billion of residential production...
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More Office Consolidation for Fannie Mae, This Time in Texas

January 7, 2016
Carisa Chappell
As for potential layoffs, the government-controlled mortgage giant declined to comment.
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Short Takes: S&P Maintains Ratings on Quicken / How About $500 Million? / Seterus a Buyer of MSRs from Ocwen / Five Oaks Ends Repo Deal with BofA / JPM Names Muriungi New Servicing Chief

January 7, 2016
Paul Muolo
The IBM-owned Seterus has been buying mortgage servicing rights from Ocwen Financial...
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TRID Phobia Causing Headaches in the Secondary Market? MBA Cites a 100 Percent Rejection Rate by One Investor

January 7, 2016
Although the Consumer Financial Protection Bureau recently issued a “clarifying” letter on errors tied to the so-called TRID integrated disclosure rule, deep concerns remain among originators that fund non-agency product for sale into the secondary market. Moreover, according to interviews conducted by Inside Mortgage Finance over the past week, some nonbank lenders are seeing noticeable increases in origination costs because loans are taking longer to close and therefore remain on warehouse lines for an extended period of time. Because nonbanks fund almost all of their production using warehouse credit, the implication boils down...
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JPM Continues to Dominate (By Far) as a Securitizer of USDA Loans

January 6, 2016
George Brooks
Chase’s nine-month USDA volume translated into a 31.0 percent market share.
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HELOC 'Like' Product Hits the Market

January 6, 2016
Brandon Ivey
Depending on the product, loan amounts can range from $100,000 to $250,000...
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Mortgage CEO: ‘TRID Cost Us $500K in Profits’ Last Month

January 6, 2016
Paul Muolo
This CEO called the letter a "godsend."
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IMA Rolls Out Fannie Mae MSR Deal, More Auctions in the Works

January 6, 2016
Paul Muolo
The receivables are dominated by Texas collateral at almost 62 percent.
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