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... Read More
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 Paul Muolo and Carisa Chappell FHFA chief Mel Watt is expected to issue a final decree this month…Read More
$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... Read More
Nonprime Lender Citadel Intentionally Cuts Production Because of TRID April 5, 2016 Paul Muolo Citadel's pipeline is at roughly $150 million. Read More
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…Read More
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 Paul Muolo and Brandon Ivey 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.Read More
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.Read More
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...Read More
The Shifting Sands of Subservicing: Growth for Cenlar; Ocwen Loses Big April 4, 2016 Paul Muolo At yearend, Cenlar ranked first in subservicing contracts...Read More
Final Tally: Bank Loan Sales Fell in 4Q16; A Weak Year Overall April 4, 2016 John Bancroft The link between loan sales and mortgage-banking income can be squishy…Read More
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