Origination Boom Creating ‘Millionaire’ Loan Officers? Yes, Some July 24, 2020 Paul Muolo One mortgage CEO suggested LOs might spend their hard earned money on a new Tesla or maybe a beach house... Read More
Dems Worry About OCC’s COVID-19 Preemption July 23, 2020 Yemeng Yang The OCC last month issued several bulletins on federal preemption, including one on states’ foreclosure moratoria... Read More
The Final (Amazing) Tally for 2Q20: $865 Billion, a 17-Year High July 23, 2020 John Bancroft The top gainer among the 20-largest originators: Guaranteed Rate of Chicago...Read More
A Slight Increase in Mortgage Repurchases by Depositories July 23, 2020 John Bancroft The call-report figures generally track buyback trends documented by Fannie and Freddie, though the bank figures may include repurchases and indemnifications linked to other buyers.Read More
Court Rules in Favor of RoundPoint, Allows M&A Lawsuit Against Freedom to Proceed July 23, 2020 Paul Muolo Freedom's proposed acquisition of RoundPoint Mortgage has turned into a legal mess...Read More
Another Quarterly Loss for New Residential, Originations Suffer July 22, 2020 Paul Muolo NRIC’s mortgage banking affiliate, NewRez, funded $8.3 billion of residential loans in 2Q20, a sequential decline of 27.2%...Read More
A Cloud Hanging Over Jumbos? July 22, 2020 Brandon Ivey Lenders across the nation are taking a close look at their jumbo underwriting standards, including market leader Wells Fargo... Read More
Two Harbors Plans to Terminate Agreement with External Manager for 'Cause' July 22, 2020 Brandon Ivey By terminating its management agreement with PRCM for cause, Two Harbors will avoid paying a $144 million fee. Read More
The Pandemic Effect? GSE FICO Scores Head North in 2Q20 July 22, 2020 John Bancroft Mortgages with credit scores of 740 and up accounted for 72.69% of GSE refi business, up from 65.55% in the first quarter. Read More
The Pandemic Effect: A New Record High in Consumer Complaints July 21, 2020 Yemeng Yang The mortgage sector, which has been saddled with pandemic-related forbearance issues, has fallen off the complaint curve...Read More
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