OIG Suggests CFPB Expand Nonbank Monitoring July 9, 2020 Yemeng Yang In a new report, the CFPB’s Inspector General has recommended the bureau tailor its resources to monitor institutions based on risk and expand monitoring of nonbanks.Read More
Mortgage M&A: Buyers Are Out There, but Lack Sellers July 9, 2020 Paul Muolo Potential buyers of mortgage franchises are making their intentions known. But there’s just one problem: A lack of willing sellers.Read More
Short Takes: IPO Reveals CFPB Investigation of Rocket Homes / Jay Farner Compensation / Neuberger Berman Issues Non-QM RMBS / July 8, 2020
Has COVID-19 Permanently Changed the Mortgage Business? July 8, 2020 Brandon Ivey Industry insiders believe that many of the temporary measures created to deal with the coronavirus crisis will eventually be made permanent.Read More
Quicken's IPO Filing: Gilbert Still in Charge, Big Profits July 8, 2020 Brandon Ivey Dan Gilbert will retain majority control of Quicken Loans after an IPO involving the lender, which turned a nearly $900 million profit last year.Read More
Short Takes: SCOTUS Upholds Robocall Ban / Zillow Resumes Homebuying in More Markets / Foreclosure Threat Grows / Consumer Financial Protection Week July 7, 2020 Yemeng Yang The Supreme Court upheld a law banning cellphone robocalls, striking down a debt-related exception created by Congress in 2015... Read More
Tappable Equity Hit All-Time High in First Quarter July 7, 2020 Yemeng Yang However, homeowners have shown little interest in accessing the available equity through cash-outs.Read More
Sprout Resumes Non-QM Lending Through Correspondent Channel July 7, 2020 Brandon Ivey The bulk of non-QM originations come through mortgage brokers and the retail channel.Read More
Originations Up in Second Quarter for Many Lenders July 6, 2020 Paul Muolo Finance of America Mortgage funded roughly $5.19 billion in the second quarter, a $1 billion sequential improvement. Other lenders also posted gains.Read More
Short Takes: Interest Rates Could Go Lower / LoanStream Loosens Non-QM Underwriting / Mergers Completed / NJ Broker Rebrands July 6, 2020 Brandon Ivey The average interest rate on 30-year fixed-rate mortgages could fall below 3.00% later this year, according to Freddie Mac's chief economist.Read More