Over the past year, The Blackstone Group has been aggressively expanding into many facets of the mortgage business and is now ready to make what might be considered a bold move: investing and originating in residential loans that don’t meet the qualified-mortgage test. But just how big might Blackstone get? That’s hard to say at this point. A source inside the company, who spoke under the condition his name not be used, confirmed...
Real estate agents find realty websites more useful in generating homebuyer leads than websites operated by mortgage lenders, according to the results of a new survey conducted by Campbell Surveys and sponsored by Inside Mortgage Finance. “Real estate information available online is causing a fundamental shift in lead sources for homebuyer agents,” said Tom Popik, research director for Campbell Surveys. “Real estate agents prefer online home-buying platforms over mortgage lenders for homebuyer leads.” An agent’s “sphere of influence/personal reputation” remains...
The source continued: “Fannie and Freddie have the right to put non-compliant loans back to the originator. Eventually, someone will ask whether they knowingly bought loans that had TRID violations…"
To date, the CFPB has declined to issue formal guidance on assignee liability and TRID. Instead, the regulator has held several informational webinars on the rule.
“I would say that [MSR] prices are reasonable now,” said one advisor who spoke under the condition his name not be used. “The bid/ask spread has come down a little bit.”
Because of continuing problems in implementing the TRID integrated disclosure rule, lenders have not been able to focus on the new HMDA requirements...
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