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Surveys Show Consumers Have Low Confidence in Their Home-Buying Skills

July 9, 2015
Potential homeowners may be talking themselves out of the American dream, according to several recent surveys that show consumers underestimate their ability to get a mortgage. A Genworth survey of more than 100 lending executives found that 66 percent said eligible borrowers mistakenly think they don’t qualify for a mortgage. In a similar survey on consumer’s views on homeownership, Wells Fargo reported...
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Stonegate Expands Direct-to-Consumer Unit in Arizona

July 8, 2015
Sherry Muolo
Stonegate has grown from 400 employees in 2012 to about 1,300 currently.
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Common Securitization Solutions Unveils Industry Advisory Board; First Meeting Next Monday

July 8, 2015
Carisa Chappell
CSS identified the trade group advisors by organization, but not by their individual names.
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Short Takes: The CSP Mystery: What, No Names? / One or Two Advisors on the Board? / Another Large NPL Auction From Freddie Mac / CMLA Wants the TRID Deadline Moved Back / A New Head of IR for PHH

July 8, 2015
Carisa Chappell and Paul Muolo
CMLA argues that “moving implementation to January [from October] will allow lenders and settlement service providers a more gradual implementation of the new disclosures in a lower pressure environment.”
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Mortgage Hiring Keeps Apace, But: No More Weekends Off

July 6, 2015
Paul Muolo
Savitt noted that some lenders don’t want to staff up too much “only to have to lay off workers later on.”
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Short Takes: More Servicing Deals on the Way? / Another Top Executive Departs Wingspan? / BofA Gaining on Wells? / Impac Gets a Line of Credit / Ex-Lenders One Chief Lands at Embrace

July 1, 2015
John Bancroft, Brandon Ivey, and Paul Muolo
Wells Fargo was the top seller to Freddie Mac in 2Q with $12.6 billion, according to newly compiled figures from Inside Mortgage Finance, but BofA was a somewhat close second...
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Big Pay Raises for Fannie and Freddie CEOs; How Does $4 Million a Year Sound?

July 1, 2015
Paul Muolo
A few years back, then FHFA Director Ed DeMarco cut the compensation of the CEOs as a response to lawmaker concerns.
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Short Takes: GSEs Hike LPMI Capital Requirements / Is LPMI Really Riskier? / The Trouble with Mortgage Co-ops and Free AU / Applications Wane / Hiring at NMI

July 1, 2015
John Bancroft, Paul Muolo, and Sherry Muolo
The Consumer Financial Protection Bureau also is reviewing LPMI, but from a different angle: RESPA and the "discounting" of such policies…
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Short Takes: So, Where’s the Rate Plunge? / MBS Prices? / CitiMortgage Fails a Servicing Metric / Pending Home Sales Bright / A New Hire for DocMagic

June 30, 2015
Brandon Ivey, Paul Muolo, and Sherry Muolo
With Greece ready to crack up, it was thought that mortgage rates might plunge. But it hasn't happened yet...
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Short Takes: A Killer Quarter for Fannie and Freddie? / A Shrinking Market: Bad Loans / Turn, Turn, Turn Times / Stonegate’s Third-Party Loan Portal / New Hires for Mortgage Network, Ellie Mae

June 29, 2015
Brandon Ivey and Paul Muolo
Why do loan turn times – application to closing – vary so much?
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