“There will be a significant impact and industry should see a decreased turn time in getting the MLOs approved,” said CSBS Senior Vice President Tim Doyle.

Among the report’s conclusions: Small servicers tend to focus on mortgages in non-metro or rural areas. Also, small servicers are less likely than larger shops to process loans backed by Fannie Mae and Freddie Mac.

Charlie Clark, president of the American Association of Residential Mortgage Regulators, stressed the need to establish prudential standards for nonbank lenders and servicers.

“The appetite in the secondary market for non-QMs is insane,” said Shea Pallante, an executive vice president at the Long Island-based Sprout Mortgage...

Craig Phillips: “When a company fails, the capital structure is typically eliminated and there are no shares left.”

It’s no secret that home lenders are enjoying boom times. According to figures published by Inside Mortgage Finance last month, mortgage bankers funded a mouth-watering $700 billion in first-liens in the quarter, the strongest showing of the year.

Along with the increase to the baseline limit, caps on Fannie Mae, Freddie Mac and government-insured loans in high-cost areas would also rise, to as much as $760,000…

Citadel Servicing Corp. ranks among the top 10 originators of non-QMs but to date, the privately held firm has never issued its own MBS...

The firm named Chief Financial Officer Glenn Votek interim CEO and president as it searches for a permanent replacement.

By the time recap and release is completed, an army of securities attorneys and investment bankers are going to rack up the billable hours…