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Short Takes: Third Largest FHA Lender Settles with Uncle Sam / Friday Afternoon Appears to be the Witching Hour for FHA Settlements / Sometimes, the Best Defense is a Strong Offense / A New President and CEO For Stonegate Mortgage

April 18, 2016
Paul Muolo
The New Jersey-based Freedom is no ordinary FHA lender. According to Inside FHA/VA Lending it ranked third nationwide in FHA production last year with $4.52 billion.
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Next Up for the Blackstone Group and Finance of America: Non-QM Investing. How Big Can It Get?

April 14, 2016
Over the past year, The Blackstone Group has been aggressively expanding into many facets of the mortgage business and is now ready to make what might be considered a bold move: investing and originating in residential loans that don’t meet the qualified-mortgage test. But just how big might Blackstone get? That’s hard to say at this point. A source inside the company, who spoke under the condition his name not be used, confirmed...
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Real Estate Agents Prefer Online Platforms Over Lender Sites for Homebuyer Leads

April 14, 2016
Real estate agents find realty websites more useful in generating homebuyer leads than websites operated by mortgage lenders, according to the results of a new survey conducted by Campbell Surveys and sponsored by Inside Mortgage Finance. “Real estate information available online is causing a fundamental shift in lead sources for homebuyer agents,” said Tom Popik, research director for Campbell Surveys. “Real estate agents prefer online home-buying platforms over mortgage lenders for homebuyer leads.” An agent’s “sphere of influence/personal reputation” remains...
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Short Takes: Jamie Dimon Feels Their Pain / JPM Wants to Give Its Delinquent Servicing to the GSEs / About All Those Mortgage Regs… / A New HR Chief for Stonegate Mortgage

April 13, 2016
Paul Muolo
If Jamie Dimon really cares about the pain suffered by his customers, he may want to keep his default management servicing inhouse…
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LenderLive Quits the Due Diligence Business

April 12, 2016
Paul Muolo
Seehausen stressed that due diligence reviews never became a big part of the company’s product offerings...
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Short Takes: The ‘Banksters’ Aren’t Going to Jail But They Are Paying Through the Nose (Goldman Sachs) / CFPB Chief Cordray Tries to Clear the Air on TRID ‘Cures’ / Nation’s Largest Mortgage REIT to Buy Another / Two New Directors for Fannie Mae

April 11, 2016
Brandon Ivey and Paul Muolo
Associate Attorney General Stuart Delery: “This resolution holds Goldman Sachs accountable for its serious misconduct..."
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What We’re Hearing: Hot Commodities: Mortgage Call Centers? / Morningstar Says Chillax on TRID / MBA’s Chief Dave Stevens: It’s Not Just ‘Bellyaching’ / Do or Die Time For Ocwen? / Carol Galante Will Earn How Much at Ocwen? / Casey Crawford Scores, Again

April 8, 2016
Paul Muolo
The mortgage industry is still demanding “formal” guidance from the CFPB on TRID and will accept nothing less.
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A Different Type of Housing Crisis: A Coming Shortage of Qualified Appraisers?

April 7, 2016
Carisa Chappell
Of considerable concern is the shortage of appraisers in specific markets.
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Short Takes: CFPB’s Richard Cordray: I’m Listening / Trade Group Chiefs Weigh In on TRID / Denmark Dixon, Walter’s $6 Million Man / White House’s Stegman on GSE Reform / New Hires for Lender Live

April 7, 2016
Carisa Chappell and Paul Muolo
White House advisor Michael Stegman: It's not easy building a government corporation...
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Quicken’s Ability to Meet Scheduled Closing Dates Is a Major Factor in Real Estate Agents’ Mortgage Referrals

April 7, 2016
The call-center business model used by Quicken Loans won praise from real estate agents who often prefer to deal with a local loan officer, according to the results of a new survey by Campbell Surveys and sponsored by Inside Mortgage Finance. “It is clear that agents like Quicken for loan programs, lead time on closing dates, policy on providing closing status to agents and performance on meeting closing dates,” said Tom Popik, research director for Campbell Surveys. He said...
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