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Mortgage Banking Jobs Take it on the Chin in February

April 4, 2016
Paul Muolo
Although BLS reported declines, recent interviews conducted by IMFnews suggest that some nondepositories are in a hiring mode this spring, especially for retail loan officers.
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What We’re Hearing: Cordray Caves, Issues Formal Guidance on TRID Errors / Is the CFPB In Over Its Skis? / WJB Mortgage Keeps Rincon Busy / Rep. Hensarling Promises the GOP Will Do Something About Dodd-Frank / Marketplace Home Mortgage Continues Expansion

April 1, 2016
Paul Muolo
How many more of W.J. Bradley's TRID-error loans will be sold in the scratch-and-dent market?
Read More

96 Million Potential Mortgage Customers? (Hint: They’re Renters)

April 1, 2016
Brandon Ivey
The HFPC found that 63.8 million adults – 52 percent of renters in the country – don’t have a high enough credit score to qualify.
Read More

Surprise: OCC Cuts Disclosures of Key Mortgage Servicing Data at Banks

April 1, 2016
Brandon Ivey
Fact: The Mortgage Metrics report for the third quarter of 2015 was 66 pages while the most recent issue was slashed to just 14 pages.
Read More

UG Makes it Official, Files IPO; $916 Million in Earnings the Past Three Years

March 31, 2016
Paul Muolo
The MI industry’s future also hinges on Fannie and Freddie, which by statute must have MI coverage on the high loan-to-value ratio mortgages they buy.
Read More

Investors Warn the CFPB About the Chilling Effect of the TRID Rule; Troubles May Extend to the Conforming Market

March 31, 2016
Brandon Ivey
The AMI chief warned that at some point the GSEs may decide to review TRID documentation and penalize lenders who made even small clerical errors in the disclosures.
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$20 Million of W.J. Bradley’s Jumbo Loans Offered in the TRID ‘Scratch and Dent' Market. The Seller is…

March 31, 2016
Paul Muolo
According to survey figures from Inside Mortgage Finance, WJB funded $410 million in 4Q15. Typically, it sold jumbos on a correspondent basis to secondary market investors, including JPM.
Read More

Short Takes: NAR Keeping Congress Informed on the TRID Mess / No Sign of Mortgage Standards Easing? / The Customer Count for Two MI Firms / CMG Signs on with Global DMS / New Penn Hires Former BofA Official

March 31, 2016
Brandon Ivey and Paul Muolo
Can (and will) Congress act to fix the TRID mess?
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New GSE High-LTV Program Will Not be an Option for Existing HARP Borrowers

March 31, 2016
John Bancroft
Except for 2012, the biggest year in program activity, most of the loans originated under HARP had rates above today’s levels.
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HUD Expands Loss Mitigation Options Available for HECMs

March 31, 2016
Brandon Ivey
The HECM loss mitigation option is available if there is no indication that the borrower vacated the property or if he or she is attempting to make payments on the amounts due.
Read More
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