A ‘New York State of Mind’ on LO Approvals: Like Molasses August 26, 2015 Paul Muolo A spokesman for the NYDFS admitted that, “We’re constantly trying to improve our processing times, but we know that we have a lot of work to do..."Read More
Banks Keep Up the Pressure on a TRID ‘Transition’ Period – Via FFIEC August 26, 2015 Thomas Ressler ABA said all stakeholders believe that clearer and more effective mortgage disclosures are important and worthwhile. Read More
MBA on the Next 10 Years: Don’t Expect Much Change in the Homeownership Rate August 26, 2015 Brandon Ivey Renters' attitudes about homeownership have shifted, said Freddie Mac...Read More
CFPB Finds Mortgage-Related Complaints Declining, Led By Ocwen and Nationstar August 26, 2015 Brandon Ivey Among the top 10 companies in the complaint database, two mortgage servicers showed improved performance: Ocwen and Nationstar.Read More
Get Ready: G-Fees Will Rise for USDA Home Loan Program August 26, 2015 George Brooks Effective Oct. 1, 2015, the upfront g-fee for USDA purchase and refinance loans will be raised to 2.75 percent from 2.00 percent. Read More
Short Takes: About That Fed Hike in Rates… / Rates Under 4 Percent with No Points / But Apps are Flat – For Now / LA is Too Much for the Borrower / Auction.com Hires eBay Executive August 26, 2015 Brandon Ivey and Paul Muolo A quick check of rates this morning found that firms such as Sebonic and Aurora Financial were offering 30-year fixed-rate loans at 3.75 percent with no points.Read More
Servicer Prevails in ‘Do Not Call’ Case Involving Borrower’s Cell Phone Number August 25, 2015 Brandon Ivey The borrower listed his cellphone number on the loan modification documents, but then defaulted.Read More
CFPB Rejects Lead-Generation Firm’s Effort to Dismiss CID August 25, 2015 Thomas Ressler The lead generation firm argued that the CID’s notification of purpose was too vague and thus failed to comply with legal and regulatory requirements.Read More
Mortgage Banking Solutions Selling Wholesale Lender August 25, 2015 Paul Muolo MBS Managing Partner Chuck Klein said the company in question owns at least $3 billion in mortgage servicing rights...Read More
MBA: Origination Profit at Independents Almost Flat in 2Q August 25, 2015 Paul Muolo The results are based on 354 lenders that submitted production data to the trade group.Read More