Over the past year, some lenders have complained privately about the presence of enforcement attorneys during examinations, telling Inside Mortgage Finance that it can be intimidating to staff.
The Mortgage Bankers Association last week won affirmation of its July victory over the Department of Labor in the trade groups appeal of a government policy that declared mortgage loan officers did not qualify under the administrative exemption to overtime pay. On Oct. 2, the U.S. Court of Appeals for the District of Columbia refused to grant a full-court review of its decision exactly three months earlier that sided with the MBA on how the DOL imposed overtime compensation requirements under the Fair Labor Standards Act. The MBA filed...
While standardization was the focus of jumbo investors, perhaps the bigger concern for participants is that most investors said they were looking to buy almost anything other than new jumbo MBS.