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Monday Morning Shocker: Merrill Lynch Tells PHH to Take a Hike on Private Label Originations – and Servicing

April 11, 2016
Paul Muolo
Big trouble for PHH? Its stock is getting clocked.
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Wells Fargo Settles FHA Claims for $1.2 Billion; Who’s Next?

April 11, 2016
Paul Muolo
As recently as this past summer, there was talk in the industry that Wells Fargo might counter-sue the government...
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Wells Fargo Agrees to Pay U.S. Record $1.2 Billion to Settle Allegations of FHA Fraud

April 9, 2016
Paul Muolo
As recently as this past summer, there was talk in the industry that Wells Fargo might counter-sue the government...
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What We’re Hearing: Hot Commodities: Mortgage Call Centers? / Morningstar Says Chillax on TRID / MBA’s Chief Dave Stevens: It’s Not Just ‘Bellyaching’ / Do or Die Time For Ocwen? / Carol Galante Will Earn How Much at Ocwen? / Casey Crawford Scores, Again

April 8, 2016
Paul Muolo
The mortgage industry is still demanding “formal” guidance from the CFPB on TRID and will accept nothing less.
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Preserve Fannie and Freddie Somehow? Okay, but What About Expanding the Credit Box?

April 8, 2016
Carisa Chappell
What's the right answer to the GSE "problem"? A new Congress and White House will have to decide...
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Blackstone May Take its SFR Platform, Invitation Homes, Public

April 8, 2016
Paul Muolo
Blackstone’s SFR unit, Invitation Homes, appears to be the market leader with 50,000 rental units nationwide.
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Non-Mortgage ABS Up Almost 30 Percent From 4Q15, But…

April 8, 2016
John Bancroft
In 1Q, the residential MBS sector was down 7.1 percent from 4Q15 with $277.05 billion in new issuance. It was the lowest output since the second quarter of 2014...
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New Study: Realtors Like the ‘Call Center’ Lending Model

April 8, 2016
Brandon Ivey
Of course, Quicken isn't the only lender that uses call centers to produce retail loans...
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Experts Say Looming Appraiser Shortage Threatens Housing, Reform Needed Amid Aging Demographics

April 7, 2016
A potential shortage of residential real estate appraisers has some concerned that the decline could have far-reaching effects on the housing and mortgage industry. This prompted the Appraisal Foundation to issue a request for comment and examine possible changes to the recently revamped criteria used to qualify appraisers. While new criteria for becoming an appraiser went into effect in January 2015, the Appraiser Qualifications Board published a concept paper in July that was followed by a public hearing in October 2015 to voice its concern about the qualification criteria. Nationwide, the numbers of licensed appraisers has trended...
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Quicken’s Ability to Meet Scheduled Closing Dates Is a Major Factor in Real Estate Agents’ Mortgage Referrals

April 7, 2016
The call-center business model used by Quicken Loans won praise from real estate agents who often prefer to deal with a local loan officer, according to the results of a new survey by Campbell Surveys and sponsored by Inside Mortgage Finance. “It is clear that agents like Quicken for loan programs, lead time on closing dates, policy on providing closing status to agents and performance on meeting closing dates,” said Tom Popik, research director for Campbell Surveys. He said...
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