A Frothy Mortgage Employment Market: Signing Bonuses for Underwriters and Processors? May 13, 2015 Paul Muolo Financial consultant Paul Hindman, however, is concerned about such bonuses... Read More
Sen. Shelby’s Bill Includes ATR Fix for Portfolio Loans May 13, 2015 Thomas Ressler Also, the mortgage cannot have been acquired through securitization, nor can it have certain verboten features.Read More
Shelby's Bill Would Alter the Common Securitization Platform May 13, 2015 Paul Muolo To date, CSS has yet to perform a beta test and has a “black budget” whose details are only known to Fannie, Freddie and their regulator.Read More
Preparedness is Crucial to Surviving a CFPB Audit May 13, 2015 George Brooks A CFPB lending exam can take up to six months to complete and can be quite expensive over time...Read More
Nonprime Lender Citadel Now Has Almost 1,400 Approved Brokers May 13, 2015 Paul Muolo CEO Dan Perl noted that the lender will surpass $30 million of fundings in May, a record for the company.Read More
Short Takes: 40-Day Delays in Closings Because of TRID? / Good News Though / NAIHP Weighs in on TRID / Cordray Skips Out of NAR, Angering Many / Ocwen’s Head Count May 13, 2015 Brandon Ivey, Paul Muolo, and Thomas Ressler Plenty of attendees at NAR were steamed that after CFPB Director Richard Cordray made his remarks about TRID that he left the meeting without taking a single question from the audience.Read More
Purchase Market Starts to Rev Up in April, but Refis Still Key May 12, 2015 John Bancroft Fannie and Freddie securitized $26.34 billion of purchase mortgages in April, a 24.3 percent increase from the previous month.Read More
Cut in FHA Premiums Causes Ocwen to Take a Ginnie Mae MSR Charge May 12, 2015 Paul Muolo Last fall, Ocwen tried to sell its Ginnie Mae servicing rights, but recently disclosed that it will keep the receivables instead... Read More
Five Oaks Takes Loss in 1Q from Jumbo MBS Activities, Interest Rate Hedges May 12, 2015 Brandon Ivey Five Oaks' management noted that the REIT has better control of its jumbo MBS exposure since the company issued its own security in April.Read More
IMA Selling $202 Million Fannie Mae MSR Portfolio May 12, 2015 Paul Muolo In late March, IMA noted that it was working on several deals totaling just over $20 billion, but all were being negotiated privately...Read More