Government Mortgage Insurance Programs Make a Run on Private MIs; The FHA Premium Cut a Factor? May 14, 2015 John Bancroft Although the FHA has been losing ground for several years to the private MIs, the program saw a surge in refis in March... Read More
FHFA Chief Still Hasn’t Made Up His Mind on Captives and FHLB Membership May 14, 2015 Paul Muolo To date, the FHFA has received 1,300 comment letters on the proposed ban on captive insurance firms.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 Paul Muolo, Thomas Ressler, and Brandon Ivey 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
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
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
MBA Sends 22-Page Letter to CFPB Asking Specific Questions About TRID May 12, 2015 Paul Muolo and Thomas Ressler As the TRID deadline moves closer, industry anxieties are getting stronger and more specific in nature. Read More