Altisource is headed by William Shepro, who was paid $6.1 million last year. Over the past three years, the CEO took home $15.2 million in total compensation, which includes salary, bonuses, stock and options.
Across the board, lenders are reporting stellar origination growth from the first to second quarters of the year, but the last two application surveys from the Mortgage Bankers Association showed weekly declines of 1.9% and 1.1%, respectively…
Jody Shenn, a senior analyst at Moody’s Investors Service, said, “ARRC’s recommendations and Fannie Mae’s and Freddie Mac’s ability to guide standards are signs that mostly uniform approaches will be used in mortgage originations.”
On Fannie Mae and Freddie Mac loans, originators are permitted to use ADU to underwrite loans based on employment-related retirement assets or “certain other assets of applicants who are near retirement,” the OCC noted.
Acting Ginnie Mae President Maren Kasper: “The RFI enables the agency to incorporate the views of a wide variety of stakeholders as we continue to refine the model, implement policy and evaluate potential risk to the U.S. housing finance system.”
According to new figures released by Black Knight, mortgage prepayments declined by 7.5% in June despite mortgage rates being under the 4.0% threshold. The data analytics firm said it was the first decline in prepays in five months. Go figure…
Lending Tree is not an originator as such, but acts as a middleman between originators and funders. Its menu includes not only residential mortgages but auto and business loans, credit cards and student debt.
Veterans are charged a funding fee at origination to cover the cost of administering a VA-guaranteed loan. However, certain veterans are exempt from the fee…
Although it was a relatively strong quarter for the company, the depository disclosed a $30 million “partial” charge tied to the failure of Live Well Financial, a Richmond, VA-based reverse mortgage lender that closed its doors in early May.
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