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Experts Say Looming Appraiser Shortage Threatens Housing, Reform Needed Amid Aging Demographics

April 7, 2016
A potential shortage of residential real estate appraisers has some concerned that the decline could have far-reaching effects on the housing and mortgage industry. This prompted the Appraisal Foundation to issue a request for comment and examine possible changes to the recently revamped criteria used to qualify appraisers. While new criteria for becoming an appraiser went into effect in January 2015, the Appraiser Qualifications Board published a concept paper in July that was followed by a public hearing in October 2015 to voice its concern about the qualification criteria. Nationwide, the numbers of licensed appraisers has trended...
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Industry Braces for CFPB’s Investigation of Loan Officer Compensation

April 6, 2016
Thomas Ressler
“We’ve heard recently that CFPB Director Richard Cordray expects to continue to use enforcement actions to shape policy,” said attorney Kris Kully.
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PulteGroup CEO Set to Retire After Founder/Former Chairman Threatened ‘War’

April 6, 2016
Brandon Ivey
Pulte raised concerns about the way PulteGroup is being managed, including the relocation of the company’s headquarters from Detroit to Atlanta in 2013.
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Consultant Floats Idea: Make Loan Officers Pay for Compliance Costs

April 6, 2016
Paul Muolo
The consultant has seen compliance costs rise, but without a commensurate cut in LO commissions...
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Short Takes: Discover, Liking Mortgages Again? / This Wouldn’t Happen at Yale! / WWWD? (What Will Watt Do?) / Now the Consumer Has the Upper Hand? / Stonegate Hires Alumnus

April 6, 2016
Carisa Chappell and Paul Muolo
FHFA chief Mel Watt is expected to issue a final decree this month…
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Short Takes: Jumbo MBS Ugly in 1Q16 / More TRID Nightmare Talk / CSS is Hiring / Marketplace Mortgage Continue Expansion / New Hires for WFG

April 5, 2016
Brandon Ivey and Paul Muolo
CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.
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Short Takes: 20 From WJB Land at Supreme / Bad Timing? / Joe Garrett Wants to Hold a CFPB Contest / The State of the TRID Scratch-and-Dent Market / GM&C Hires Former Fannie Mae Veteran

April 4, 2016
Paul Muolo
We also heard one report that earlier in the year a large production group from a competitor jumped ship and joined WJB in January.
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JPMorgan Cuts Back in Another Government Mortgage Program – RHS; Freedom the Buyer

April 4, 2016
Paul Muolo
A few years ago JPM stopped funding RHS mortgages through loan brokers.
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Mortgage Banking Jobs Take it on the Chin in February

April 4, 2016
Paul Muolo
Although BLS reported declines, recent interviews conducted by IMFnews suggest that some nondepositories are in a hiring mode this spring, especially for retail loan officers.
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What We’re Hearing: Cordray Caves, Issues Formal Guidance on TRID Errors / Is the CFPB In Over Its Skis? / WJB Mortgage Keeps Rincon Busy / Rep. Hensarling Promises the GOP Will Do Something About Dodd-Frank / Marketplace Home Mortgage Continues Expansion

April 1, 2016
Paul Muolo
How many more of W.J. Bradley's TRID-error loans will be sold in the scratch-and-dent market?
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