IO Originations Spiked by 25 Percent in 2Q18 September 24, 2018 Brandon Ivey Angel Oak Lending, Citadel Servicing and Navy Federal Credit Union all had IO gains of more than 60 percent during the quarter.Read More
Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot September 24, 2018 Paul Muolo ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.” Read More
MBA Backs User Fee to Fund Tech Upgrades for USDA Program September 24, 2018 George Brooks The FHA has proposed a similar user fee but has been denied repeatedly by Congress…Read More
Nonprime Lender Deephaven Taps LoanScorecard’s AU Software September 24, 2018 Paul Muolo Recently, Inside Nonconforming Markets published its second quarter ranking of expanded-credit lenders, but Deephaven did not appear.Read More
State AGs Will Fill the Void if CFPB Punts on Disparate-Impact Use September 24, 2018 Yemeng Yang CFPB chief Mick Mulvaney said the bureau is “no longer allowed” to make any rules about disparate impact under ECOA…Read More
Short Takes: Freddie Doesn’t Mince Words / Thinking of Going Public? / Why Amazon and Google Won’t Buy an Existing Franchise / Moogle or Moogage? / Texas Capital’s Deposit Base / Mortgage Job Cuts at USAA September 24, 2018 Paul Muolo Meanwhile, Hindman doesn’t see Amazon or Google buying an existing mortgage franchise... Read More
Deephaven Set to Issue its Largest Nonprime MBS to Date September 21, 2018 Brandon Ivey Mortgages from 74 lenders will be included in the deal…Read More
Wells Fargo Announces Job Cuts. The Mortgage Damage Could Total 3,097 Positions September 21, 2018 Paul Muolo The megabank is not commenting on how the cuts might affect specific business units... Read More
Industry Lauds Passage of Bill to Fix the VA ‘Orphan’ Loan Mess September 21, 2018 George Brooks The Zeldin bill passed by a vote of 48-0.Read More
What We’re Hearing: Freddie Mac Puts on its Banker Hat / Some Interesting Policy Moves by Mel Watt / Nonbank Liquidity is a Good Thing, Right? / The Progressives v. the Traditionalists / Eat a Peach: CFPB Moves an Office to Atlanta September 21, 2018 Paul Muolo The idea to ban nonbanks from the FHLB system (via the captive loophole) increasingly looks like a head-scratcher....Read More
RSS