Some mortgage executives told us privately that residential originations could fall by 20 percent year.

According to the final rule that HUD adopted in February 2013, a practice has a discriminatory effect on a protected class if HUD or a private plaintiff can establish liability under the statute, even if there is no intent to discriminate.

The U.S. Supreme Court is set to hear cases in its coming term regarding guidance issued by the Department of Labor involving overtime pay for loan officers. Oral arguments are scheduled for Dec. 1, and a decision is expected by June. The cases are Perez v. Mortgage Bankers Association and Nickols v. Mortgage Bankers Association. The MBA has argued that the DOL didn’t follow rulemaking procedures in 2010 when the regulator withdrew guidance stating that loan officers could be exempt from overtime compensation requirements under the Fair Labor Standards Act. Lenders have received...

Over the past few weeks, a handful of mortgage firms have announced acquisitions of smaller shops with an eye toward expanding their origination footprints or servicing portfolios. And investment banking advisors told Inside Mortgage Finance that between now and yearend, the mergers and acquisitions market should be brisk as owners of privately held companies finally head for the exits, realizing that when it comes to originations, 2015 likely won’t be much better than the current year. The largest nonbank to test the M&A market this year is...

Roughly 40 to 50 percent of Citadel's production goes on its balance sheet.

On its stated-income product, Homewood requires a minimum of three months of bank statements for both business and personal assets.

As part of the transaction, Cobalt co-founders Keith Tibbles and Ernie Gehre will stay with the company, which will become a division of Caliber.

The biggest chunk of purchase business for the GSEs were loans ranging from $200,000 to $300,000, which accounted for 29.4 percent of their business.

The MBA argued that the DOL didn’t follow rulemaking procedures in 2010 when the regulator withdrew guidance stating that loan officers could be exempt from overtime compensation requirements...

Although there appears to be strong interest these days in mortgage banking firms, the outlook isn’t particularly bright for commercial banks.