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Regulators in Washington State Accuse Quicken on False VA Loan Ads

June 29, 2015
George Brooks
Since then, Quicken has conducted a thorough review and has “proactively taken steps to ensure all [VA] mailings reflect our brand and quality standards,” Emerson said.
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After Hedge Fund Accumulates Large Stake, Walter Enacts ‘Poison Pill’ Language

June 29, 2015
Paul Muolo
In total, the Baker Street hedge fund now controls 8.4 million shares of Walter Investment Management, the parent company of Green Tree Servicing.
Read More

Another Call Center Operation Sold: Prospect Mortgage Buys Certain Assets of CapWest

June 29, 2015
Paul Muolo
According to figures compiled by Inside Mortgage Finance, the privately held Prospect ranks 34th among all residential lenders.
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On the Rise: Securitization of VA Jumbo Mortgages

June 29, 2015
George Brooks
VA jumbo originations outpaced FHA jumbo production, which totaled $2.8 billion in the first quarter, up 17.0 percent from the prior quarter.
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Short Takes: A Killer Quarter for Fannie and Freddie? / A Shrinking Market: Bad Loans / Turn, Turn, Turn Times / Stonegate’s Third-Party Loan Portal / New Hires for Mortgage Network, Ellie Mae

June 29, 2015
Brandon Ivey and Paul Muolo
Why do loan turn times – application to closing – vary so much?
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What We’re Hearing: Lowering the Boom on LPMI? / Ex-Goldman Sachs MGDs In Love With Subprime? / Leaving Mortgages for Weed / PIMCO’s Non-Agency MBS Plans / Industry Vet Mike McMahon Retires

June 26, 2015
Paul Muolo
Former Goldman Sachs officials sure like the nonprime mortgage space. (It's all about yield.)
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Industry Happy with TRID Delay but Prefers Longer Implementation Period

June 26, 2015
Thomas Ressler
Pete Mills, SVP for residential policy at the Mortgage Bankers Association, said there are a few issues not covered by the bureau’s delay. “What about state regulators?" he asked. "Are they going to be bound, are they under that same understanding as the bureau?”
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Bank Use of Principal Reduction Loan Modifications Spiked in First Quarter

June 26, 2015
Brandon Ivey
The eight banks tracked by the OCC’s Mortgage Metrics report – including Wells Fargo and JPMorgan Chase – completed 7,571 principal reduction mods in the first quarter...
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CUNA Mutual Product Covers Mortgage Payments in Event of Death, More

June 26, 2015
Sherry Muolo
If a borrower becomes disabled and then involuntary unemployed, homeowners can piggyback one benefit onto the other, according to Arenz.
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Still Rising: The Market Share of Nonbank Mortgage Originators

June 26, 2015
John Bancroft
But don’t count out depositories quite yet: Banks and thrifts still play the biggest role in the top 100, even if it’s shrinking.
Read More
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