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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..."
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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.
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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...
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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.
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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.
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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.
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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.
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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.
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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...
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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.
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