Confusion in Congress Regarding Qualified Mortgage Eligibility May 22, 2013 Brandon Ivey Reps. Shelley Moore Capito, R-WV and Sean Duffy, R-WI, respectively chairman and vice chairman of the subcommittee, had not viewed the CFPBs analysis on QM.Read More
FHA Jumbo Production Picks Up in First Quarter May 22, 2013 George Brooks FHA jumbo lenders produced an estimated $5.44 billion in loans over $417,000 during the first three months of the year.Read More
Republicans Seek to Revise QM Requirements, Maybe a Repeal? May 21, 2013 Brandon Ivey Might the controversial "qualified mortgage" rule be repealed? Maybe, if House Republicans have their way.Read More
HSBC, Wells Fargo Test the NPL Market With Huge Auctions May 21, 2013 Paul Muolo Wells Fargo and HSBC are stepping up sales of nonperforming mortgages, while keeping a lid on the details. Read More
New Ginnie Mae Buyout Policy Eliminates Consecutive Lates May 21, 2013 George Brooks MBS issuers, under a new proposal, will have greater leeway in buying delinquent mortgages out of Ginnie Mae pools.Read More
Citi Names Private Bank Chief to Head Mortgages, More Jumbos? May 21, 2013 Paul Muolo Will CitiMortgage be an even greater player in jumbo lending with its new CEO?Read More
Short Takes: New York Slow on Loan Officer Approvals / GSEs Win Transfer Tax Case / Will the CFPB Unionize? / City National Enters Warehouse Space / Fay Servicing to Ramp up Hiring May 21, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski New York State may be among the worst in the nation when it comes to approving loan officer applications.Read More
More GSE Business in Multi-Issuer Pools as Smaller Firms Cope with Depleted Correspondent Channel May 21, 2013 John Bancroft Many smaller mortgage lenders are looking for alternatives to selling loans to large national aggregators like Wells Fargo.Read More
Ocwen Dominates the Subprime Servicing Market with a 33.7% Market Share May 20, 2013 Brandon Ivey Ocwen had $155 billion of subprime servicing contracts at the end of the first quarter, more than double its next closest competitor.Read More
JPMorgan Dumps Mortgage Brokers from USDA Loan Program May 20, 2013 Paul Muolo One of the largest USDA mortgage lenders in the U.S. is giving the boot to third-party loan brokers.Read More