Meanwhile, we’re told that WJB’s woes can be traced to more than just TRID errors…

The Fair Labor Standards Act spells out the basis for an administrative exemption from overtime pay.

What does a depository do if it has a mortgage with a TRID error?

With commercial banks continuing to pare back their role in the mortgage market, nonbanks are aggressively hiring top performers.

The mortgage chiefs at “marketplace” lender SoFi were at the recent ABS Vegas show talking up their business with other lenders...

DeMarco, by the way, called on Congress to take a “thoughtful” review of the FHA program and Ginnie Mae’s role in housing finance.

Anupam Agarwal, CIO of Western Asset Mortgage Capital, noted: “Well, that unicorn doesn’t exist.”

Loan underwriters who claimed they were improperly classified as exempt and thereby wrongfully denied overtime pay lost on appeal after a federal appeals court determined they were administrative employees “helping run or service a business” as opposed to engaging in loan production. The ruling by the U.S. Court of Appeals for the Sixth Circuit stands in stark contrast to the Second Circuit’s 2009 opinion in a similar case, which held that underwriters are administrative workers who are eligible for overtime pay if they engage in production activities, industry attorneys said. In Lutz v. Huntington Bancshares, Inc., the bank’s underwriters primarily reviewed...

A day after the news broke that W.J. Bradley Mortgage has shut its doors, competition is heating up for some of its top loan officer and executive talent...

One observer had this to say about the firm closing: "They literally shut their doors ... no vacation time pay either..."