So Far, Six VA Lenders Fined for Deceptive Ads. More to Come? September 2, 2020 Yemeng Yang The CFPB has assessed $1.8 million in fines on six VA lenders for sending deceptive ads...Read More
Do the GSEs Have ‘Cloud’ Risk? IG Report Raises Questions September 2, 2020 Dennis Hollier That leaves the supervision of these cloud contractors up to Fannie and Freddie themselves. Read More
Mr. Cooper on Track to Add 5,000 Employees This Year September 2, 2020 Brandon Ivey Mr. Cooper plans to increase its staff by more than 50% this year, with many of the hires focused on mortgage originations.Read More
Not Only are Home Lenders Thriving, So Are Their LOs September 2, 2020 Maria Volkova LOs earned 59% more in the second quarter of 2020 compared to the same period a year ago, according to figures compiled by LBA Ware...Read More
And the Beat Goes On: GSEs Print Another Monthly Record September 1, 2020 John Bancroft With four months still to go, 2020 already ranks as the second-highest year ever for Fannie/Freddie single-family business.Read More
GSE Refi Fee Could Impact Mortgage Disclosures September 1, 2020 Yemeng Yang If the LLPA is passed to consumers as a charge at consummation, lenders will have to disclose the added cost as an “origination charge” on the loan estimate and closing disclosure. Read More
Depositories Rake in the Mortgage Profits. Then There’s Wells Fargo... September 1, 2020 John Bancroft Commercial banks and thrifts posted a whopping $5.62 billion in net income from their mortgage banking operations during the second quarter. Read More
Pacific Private Money Completes its First Securitization of Bridge Loans September 1, 2020 Brandon Ivey The $100 million securitization consists of bridge loans for both owner-occupied and business-purpose properties.Read More
Forbearance Reading Remains Flat but Growing Problems in Ginnie, PLS Buckets August 31, 2020 Paul Muolo Black Knight said 3.9 million homeowners remain in forbearance...Read More
A California Version of the CFPB Gains Focus August 31, 2020 Yemeng Yang A California version of the CFPB? The Golden State boasts the largest mortgage market in the nation... Read More