The source continued: “Fannie and Freddie have the right to put non-compliant loans back to the originator. Eventually, someone will ask whether they knowingly bought loans that had TRID violations…"

If Jamie Dimon really cares about the pain suffered by his customers, he may want to keep his default management servicing inhouse…

Ultimately, whichever side loses, the case likely will be appealed to the U.S. Supreme Court...

To date, the CFPB has declined to issue formal guidance on assignee liability and TRID. Instead, the regulator has held several informational webinars on the rule.

Maybe one of these days JPM will exit mortgages entirely. But for now, Jamie Dimon is staying put...

“I would say that [MSR] prices are reasonable now,” said one advisor who spoke under the condition his name not be used. “The bid/ask spread has come down a little bit.”

Because of continuing problems in implementing the TRID integrated disclosure rule, lenders have not been able to focus on the new HMDA requirements...

Four of the five largest IO lenders in the group are commercial banks…

As IMFnews reported recently: one nonbank lender had a $910,000 jumbo mortgage rejected by a secondary market buyer because of a $19 TRID-related mistake on the disclosure form.

Another disturbing wrinkle was CFPB Director Richard Cordray rejecting an administrative law judge’s proposed penalty of $6.4 million against PHH and instead jacking it up to $109.2 million...