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Nonprime Lender Citadel Intentionally Cuts Production Because of TRID

April 5, 2016
Paul Muolo
Citadel's pipeline is at roughly $150 million.
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Former FTC Official: CFPB Rules Have Driven Small Banks out of the Mortgage Business

April 5, 2016
Thomas Ressler
By imposing a one-size-fits-all mechanical underwriting system for mortgages, the QM rule has deprived community banks of a significant competitive advantage over megabanks, he argued…
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Short Takes: Jumbo MBS Ugly in 1Q16 / More TRID Nightmare Talk / CSS is Hiring / Marketplace Mortgage Continue Expansion / New Hires for WFG

April 5, 2016
Brandon Ivey and Paul Muolo
CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.
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Short Takes: 20 From WJB Land at Supreme / Bad Timing? / Joe Garrett Wants to Hold a CFPB Contest / The State of the TRID Scratch-and-Dent Market / GM&C Hires Former Fannie Mae Veteran

April 4, 2016
Paul Muolo
We also heard one report that earlier in the year a large production group from a competitor jumped ship and joined WJB in January.
Read More

GAO Suggests Congress Give the CFPB More Power. What?

April 4, 2016
Thomas Ressler
Give the CFPB even more power? The GOP likely would not stand for such a thing...
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The Shifting Sands of Subservicing: Growth for Cenlar; Ocwen Loses Big

April 4, 2016
Paul Muolo
At yearend, Cenlar ranked first in subservicing contracts...
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Final Tally: Bank Loan Sales Fell in 4Q16; A Weak Year Overall

April 4, 2016
John Bancroft
The link between loan sales and mortgage-banking income can be squishy…
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Congress Opens Doors to Ranieri/Zandi & Co. Plan

April 4, 2016
Paul Muolo
Of course, just because five industry vets have issued a white paper, that doesn’t mean it can readily yield into legislation.
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Jumbo MBS Market Remains Attractive – For Some

April 4, 2016
Brandon Ivey
Redwood Trust, another REIT, hasn’t issued a jumbo MBS since November...
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JPMorgan Cuts Back in Another Government Mortgage Program – RHS; Freedom the Buyer

April 4, 2016
Paul Muolo
A few years ago JPM stopped funding RHS mortgages through loan brokers.
Read More
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Latest Imf News

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