CFPB Suffers Another RESPA Blow; A Victory for Affiliated Business Arrangements? July 18, 2017 Thomas Ressler It’s unclear whether the CFPB will appeal the decision. Bureau officials declined to comment.Read More
Short Takes: EverBank CEO Now the Head of LenderLive / Strong Volumes at Skyline / Refi Shops Hurting / Walter Files Layoff Notice on Irving Office / loanDepot Snatches Top LO from Guaranteed Rate July 18, 2017 Paul Muolo Walter Investment filed a WARN notice with the Texas Workforce Commission, saying it will close its Irving, TX, office and cut 437 workers...Read More
Walter’s Warehouse Lenders Show Patience – but for How Long? July 18, 2017 Paul Muolo In late May, Walter disclosed in an SEC filing that some of its previously issued financial statements could not be relied upon because of what it called an “accounting error.”Read More
Residential Production at BofA Rises 16 Percent; MSR Balances Continue to Fall July 18, 2017 Paul Muolo Compared to the same period a year ago, servicing balances have fallen by 19.5 percent.Read More
Fannie/Freddie Single-Family MBS Business Slumped in 2Q17; Bank and Thrift Business Weak July 18, 2017 John Bancroft Wells Fargo saw an 18.6 percent drop in its GSE business during the April-June cycle, but the three other megabanks had much bigger declines…Read More
Flagstar Bancorp to Issue its First Post-Crisis Jumbo MBS July 18, 2017 Brandon Ivey All of the mortgages Clayton reviewed for the MBS are safe harbor qualified mortgages.Read More
UI: Single-Security Efforts Alleviated GSE Pricing Disparities July 17, 2017 Carisa Chappell Freddie Mac’s prepayment speeds are no longer faster than Fannie’s…Read More
Short Takes: LOs, You’ve Been Put on Notice / Citigroup’s MSR Holdings: Down 68 Percent / GOS Outlook / Two Harbors Prices Preferred Shares / Castle & Cooke Hires Compliance Manager July 17, 2017 Paul Muolo Mortgage gain-on-sale margins likely will be flat...Read More
CFPB Cuts ‘Smallish’ Lenders Some HMDA Slack (Temporarily) July 17, 2017 Thomas Ressler Under the proposal, the CFPB would increase that threshold to 500 loans through calendar years 2018 and 2019… Read More
Retail Channel Losing Steam in 2Q17 Agency Business; Brokers Rising July 17, 2017 John Bancroft Agency mortgages produced by mortgage brokers actually rose 4.4 percent in the second quarter, even as the overall market was falling 6.1 percent.Read More