Nonprime Lender Citadel Intentionally Cuts Production Because of TRID April 5, 2016 Paul Muolo Citadel's pipeline is at roughly $150 million. Read More
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…Read More
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.Read More
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...Read More
The Shifting Sands of Subservicing: Growth for Cenlar; Ocwen Loses Big April 4, 2016 Paul Muolo At yearend, Cenlar ranked first in subservicing contracts...Read More
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…Read More
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.Read More
Jumbo MBS Market Remains Attractive – For Some April 4, 2016 Brandon Ivey Redwood Trust, another REIT, hasn’t issued a jumbo MBS since November...Read More
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