Obama’s Top GSE Advisor Michael Stegman Calls it a Day March 23, 2016 Paul Muolo “Look, it’s March of an election year. And it’s not like he was going to get a lot done," said one observer regarding Stegman's departure.Read More
CFPB Smooths the Way for More Small Lenders to Offer ‘Balloons’ in Rural Areas March 23, 2016 Thomas Ressler Prior to the HELP Act, a small lender was only eligible for these provisions if it operated predominantly in rural or underserved areas.Read More
We Know What Mortgage Lenders Think of TRID, but What About Consumers? March 23, 2016 Thomas Ressler On the other hand, 63 percent said the new forms for loan estimates and closing disclosures were easier to understand...Read More
FHFA Still Contemplating Mortgage Principal Reduction Plan; A Decision in 30 Days March 22, 2016 Paul Muolo Once again, the concept of "principal reductions" on Fannie, Freddie loans rears its ugly head.Read More
Short Takes: W.J. Bradley Vendor Owed Money / The TRID Error Options Are… / loanDepot Teams Up with Avant / Loan Mods Slow / Primary Capital Hires SVP March 22, 2016 Paul Muolo and Brandon Ivey What does a depository do if it has a mortgage with a TRID error?Read More
FTC Warns that Hackers are Directing Borrowers to Wire Closing Funds to Scam Bank Accounts March 22, 2016 Brandon Ivey “Many sophisticated parties have been duped,” said NAR.Read More
Was W.J. Bradley Mortgage Looking to Buy – or to Sell? March 22, 2016 Paul Muolo This advisor noted that WJB was looking to raise debt, but was also open to a sale.Read More
Court Ruling: Mortgage Loan Underwriters Lose Overtime Appeal March 22, 2016 George Brooks The Fair Labor Standards Act spells out the basis for an administrative exemption from overtime pay.Read More
Are the GSEs Doing Enough to Support Manufactured Housing? March 22, 2016 Carisa Chappell One commenter said the GSEs should be required to purchase chattel loans that are “prudently underwritten with appropriate consumer protections.” Read More
Short Takes: Existing Home Sales – Blame it on the Blizzard and More / Lean Inventories a Problem / A Job Offer Almost Every Day / SoFi: So Little Information on its Loan Volumes / Second Liens Rising March 21, 2016 Paul Muolo The mortgage chiefs at “marketplace” lender SoFi were at the recent ABS Vegas show talking up their business with other lenders...Read More
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