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States Continue to Weigh Regulation of Mortgage Servicers

April 27, 2016
Brandon Ivey
State regulators have been particularly concerned about growth in recent years by nonbank servicers such as Ocwen Financial, the largest subprime servicer. Ocwen, of course, is now shrinking.
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Real Estate Agents Complain (Big Time) About the TRID Nightmare

April 27, 2016
Thomas Ressler
On the subject of delayed closings, one agent had this to say: “All of my closings are taking two to four weeks longer to close, and there has been a lot of confusion…”
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Short Takes: Trouble Ahead for Downpayment ‘Gift’ Programs? / CHLA Sends a Letter to Cordray, Wants a Fair Shake for Nonbanks / Why Sig Anderman of Ellie Mae is a Happy Man These Days

April 27, 2016
Paul Muolo and George Brooks
Sig Anderman’s once small firm is now worth more than Nationstar Mortgage, Ocwen Financial and Walter Investment Management Corp. combined.
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CFPB Cites ‘Prolonged’ Loss Mitigation Process by Servicers

April 27, 2016
Thomas Ressler
Consumers said they received conflicting and confusing foreclosure notifications during the loss mitigation review process...
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A TRID Breakthrough? S&P Endorses Due Diligence Standards Proposed by SFIG; Ready to Rate Non-Agency MBS

April 27, 2016
Brandon Ivey
While S&P will rate new non-agency MBS without formal guidance from the CFPB, the rating service noted that the market’s handling of TRID issues is fluid...
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Flagstar Boosts Originations and Income in 1Q16, Is Comfortable with TRID

April 26, 2016
Brandon Ivey
Flagstar is the only depository that ranks among the nation’s top-five wholesale/broker lenders, according to Inside Mortgage Finance.
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BB&T Reports Warehouse Commitments of $2.8 Billion

April 26, 2016
Paul Muolo
Warehouse consultant Larry Charbonneau noted that he knows of at least two new entrants to the business.
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Short Takes: When In Doubt, Bolt the FHA? / A Record ‘Tightness’ for Non-Agency? / Mortgage Banking is Only Good When Hot / Essent Gets LOC / Parkside Hires Former BofA Executive

April 26, 2016
Paul Muolo and Brandon Ivey
One industry consultant warns that when times are good, mortgage banking income can “turbocharge” earnings but...
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Fannie Mae Will Focus on Reperforming Loan Securitization

April 26, 2016
Carisa Chappell
As part of the program, the GSE will enhance loan-level disclosures for the RPLs to provide more transparency.
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Declining Rates Hurt MSR Values in 1Q16; 58 BPs for BofA?

April 26, 2016
Paul Muolo
A spokesman for BofA declined to provide any color on the mark, but provided a link to past financial filings where the bank talks about its hedging activities which are based on “model and other cash flow” assumptions.
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Latest Imf News

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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