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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
Paul Muolo and Brandon Ivey
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
Paul Muolo and Carisa Chappell
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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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
Paul Muolo and Carisa Chappell
FHFA chief Mel Watt is expected to issue a final decree this month…
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