Mortgage M&A historians might recall that last decade, before the financial crisis struck, Countrywide Financial Corp. was in serious talks to buy PHH’s mortgage business...
TRID errors were a topic of discussion at the LendersOne mortgage cooperative meeting in New Orleans. Pete Mills, senior vice president of the Mortgage Bankers Association, was giving a presentation.
The House Financial Services Committee this week passed the “SAFE Transitional Licensing Act,” H.R. 2121, which creates a 120-day grace period to let licensed mortgage originators continue originating loans after they leave a federally-insured institution and go to work for a nonbank. The bill was introduced by Rep. Steve Stivers, R-OH, in April 2015 to amend the 2008 Secure and Fair Enforcement for Mortgage Licensing Act. It would give loan originators who work for depository institutions and do not have to be licensed time to meet the licensing requirements that nonbank LOs have. Currently, bank LOs are registered...