A mortgage employee who who merely states general information such as we offer rates as low as 3% to qualified consumers would not be considered a loan originator.
There is a whole other level of supervisory and enforcement authority available to the bureau under a director approved with the consent of the Senate, mostly having to do with non-bank lending.
When rates spiked this week, margin calls to MBS investors increased. Lenders are nervous but next will will be the real test, mortgage executives told Inside Mortgage Finance.
There is still no official word on when the Senate Banking Committee will take up the nomination of Rep. Mel Watt to head the Federal Housing Finance Agency.
Compensation for directors at each of the 12 Federal Home Loan Banks increased in 2012, continuing a trend begun in 2011 where a directors earnings started to show a wide range across the FHLBanks for similar positions, according to the Federal Housing Finance Agency.