Tim Doyle of the CSBS: “There will be a significant impact and industry should see a decreased turn time in getting the MLOs approved.”

While production at the two government-sponsored enterprises rose a combined 6.7% for the month, hitting $117.55 billion, Ginnie issuance was off 7.3% from October.

Figure’s co-founder and CEO is Mike Cagney. If the name sounds familiar, it should. Cagney formed SoFi earlier in the decade...

The bureau indicated it could grant “a limited extension of the expiration date only as necessary” to provide for an orderly transition away from the patch.

According to data from state regulators, the largest nonbanks in the mortgage space have approximately four times as much debt as equity.

Inside Mortgage Finance found that lenders originated an estimated $369.0 billion of purchase mortgages in 3Q19, accounting for 52.7% of total first-lien production…

Mr. Cooper: “Prepayment speeds have remained high so far in the fourth quarter, with forward owned CPRs of 20.3% in October and 17.8% in November…”

At Sept. 30, the CFPB employed 1,430 workers, down 5.3% from a year earlier and 14.3% below the 1,668 it employed in 2017.

Then again, the concept remains untested. Letting nonbanks join the FHLB system was an idea recently floated by Federal Housing Finance Agency Director Mark Calabria…

The top two banks in mortgage banking – Wells Fargo and JPMorgan Chase – reported sharply different results in the third quarter.