TRID Impact on Purchase-Mortgage Process Receives Widely Differing Assessments from Real Estate Agents August 25, 2016 Brandon Ivey One real estate agent did not mince words: "TRID is a nuisance and should be done away with immediately if not sooner. Shut the Consumer Financial Protection Bureau.”Read More
PHH to Lose Part of HSBC Contract. A New Tally on Damages: A 47% Decline in Subservicing Contracts August 25, 2016 Paul Muolo PHH says loss of the HSBC subservicing contract on the 139,000 loans will reduce pre-tax earnings by $10 million.Read More
Did Someone Die in the House You’re About to Make a Mortgage On? August 25, 2016 Sherry Muolo California, Alaska, and South Dakota are the only states required to disclose death on property information in written disclosures…Read More
FHFA Readies Successor Program to HARP. Name to Follow August 25, 2016 Carisa Chappell FHFA estimates there are roughly 300,000 homeowners potentially eligible to refinance through HARP.Read More
Short Takes: Stonegate Mortgage a Buyer of Other Firms? / The Other Stonegate Buys a Florida Bank / The Kings of the Channels / A New Permanent CEO for Clayton / Former FHFA Director DeMarco Sets the Record Straight August 25, 2016 Paul Muolo From what we understand, Stonegate Bank is not very active in residential lending, but Insignia is…Read More
CFPB Considering Registration System for Nonbanks, Mortgage Firms Included August 24, 2016 Thomas Ressler A CFPB nonbank registration system might be used to collect financial and operational data and information on a lender’s organizational structure…Read More
Redwood Shoots Down Report on Suspension of its Jumbo MBS Program August 24, 2016 Brandon Ivey In recent years, Redwood has favored whole loan sales to jumbo MBS due to pricing considerations, but the company has continued to issue jumbo MBS.Read More
A Small Revival for Subprime? Two New MBS Deals Hit the Market. Nomura Had a Role in Both August 24, 2016 Paul Muolo In total, there are 573 loans backing the Deephaven MBS…Read More
Delinquencies at Large Servicers Rise Ever So Slightly August 24, 2016 Brandon Ivey The nation’s three largest residential servicers – Wells Fargo, Chase and Bank of America – all showed sequential increases in late payments...Read More
Trade Groups with Nonbank Members Ask the CFPB: How About Us? August 24, 2016 Carisa Chappell Not only are CHLA and CMLA unhappy with the lack of representation, they want the CFPB to form a “Community Mortgage Banking Advisory Council...” Read More