Former FHA Commissioner Dave Stevens: “The absence of banks in FHA has been a challenge ever since the False Claims Act was used as an excessive enforcement mechanism, making it far too great a risk to participate in the program.”
After the FCA payment to Uncle Sam, JPM remained as a correspondent buyer of FHA loans but its Ginnie Mae MBS issuance volume has slipped tremendously…
The AGs believe depriving the CFPB of its powers would harm the states by eliminating the agency’s independent enforcement efforts and the valuable assistance it provides…
In the grand scheme of things, longer close times may not seem like a disaster but for nonbanks using warehouse lines of credit that means loans have longer dwell times…
Lori Brewer of LBA Ware: “Despite speculation that lenders’ efforts to reduce operational costs would include curbing loan originator commissions in 2019, our analysis shows that base commission for LOs did not significantly change from 2018 to 2019.”
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