CFPB Clarifies: So-Called Convenience Fees Are Illegal July 19, 2022 Sam Manas The agency said collection of any fee is forbidden unless it's mentioned in the consumer’s contract or...Read More
FHFA Nods to Fintech's Role in Housing Finance, Creates a New Office July 19, 2022 Dennis Hollier The agency said it wants to foster the safe, sound and responsible use of technology in the mortgage process.Read More
How Bad Might the Mortgage Layoff Picture Get? July 18, 2022 Paul Muolo In less than a year, Better has reduced its headcount by 72%... Read More
Bulk MSR Transfers Soar in Massive 2Q22 Reshuffling July 18, 2022 John Bancroft Year-to-date transfers of Fannie Mae, Freddie Mac and Ginnie Mae servicing hit $561.35 billion, setting a pace for a $1 trillion year.Read More
Whole-Loan Buyers Playing Significant Role in Non-Agency Market July 18, 2022 Brandon Ivey “It’s a little depressing right now being in RMBS,” said one SFA panelist in jest...Read More
First-Lien Lending Slips at BofA, Second-Lien Production Jumps July 18, 2022 Paul Muolo BofA said its new mortgage customers had an average loan-to-value ratio of 70% in 2Q22...Read More
Short Takes: GSE Reform on the Horizon? (Hardly) / The Mid-Terms / A Limited Life / Stress Relief for Mortgage Companies? / Buy American (Homes) July 18, 2022 Brandon Ivey and Paul Muolo Hope for legislative reform of Fannie Mae and Freddie Mac? Not really...Read More
Non-Agency MBS Issuance Down 22% in 2Q22 July 15, 2022 John Bancroft The top three non-agency issuers for the first six months of 2022: JPMorgan, Goldman Sachs and Onslow Bay...Read More
2Q22 Results: Originations Fall at Wells Fargo, MSRs Get Marked Up July 15, 2022 The stagecoach added that year-over-year results were partially offset by higher mortgage servicing income.Read More
Amid the Industry Turmoil, an M&A Deal Gets Done July 15, 2022 Paul Muolo In 2021, Sunstreet originated roughly $800 million in residential mortgages...Read More
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