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Nonbank Trade Group Wants Depository Parity on Loan Officer Testing, More

December 10, 2014
Paul Muolo
The new plea from the CHLA comes at a time when depositories are losing origination market share to fast growing nonbanks like Freedom Mortgage, United Wholesale Mortgage and others.
Read More

Short Takes: Are Investors Done Selling Ocwen’s Stock? / Who Might DocMagic Buy Next? / How is CitiMortgage Like Ocwen? / CFPB Budget Rises / Fannie Mum on Reinsurance Partners

December 10, 2014
Brandon Ivey, Paul Muolo, and Thomas Ressler
But is DocMagic president and CEO Dominic Iannitti done buying? Stay tuned…
Read More

Short Takes: A Bond Backed by 10-Year-Old Alt A Loans / CalCap Expands into Arizona / Ocwen Gives a Nice Raise to CFO / A No PMI Loan From Stonegate / Sherwood Gets Prez Job at NMI

December 9, 2014
Brandon Ivey and Paul Muolo
Ocwen Financial, whose stock has been clobbered this year, recently increased the base salary of its chief financial by $50,000...
Read More

Short Takes: CFPB Examining Pre-Approval Letters Now? / CFPB ‘Consumer Narratives’ Still an Issue / Caliber Loosens Credit Even More / The Lawsky Question / FHA Weighs in on Loan Limits

December 8, 2014
Brandon Ivey, Paul Muolo, and Thomas Ressler
Industry advisor Joe Garrett said in a client note he knows of a lender that had its pre-approval letter scrutinized by the CFPB.
Read More

Appraisal Management Companies and AVMs Set to Face More Scrutiny

December 5, 2014
Thomas Ressler
The pending AMC and AVM rules are designed to protect against the manipulation of data and much more.
Read More

What We’re Hearing: National Lender Gives Up Profits for Volume? / Too Many Buyers and Not Enough Sellers? / A Hot Topic of Conversation: Nonbank Capital Standards / Another REIT Spin-off?

December 5, 2014
Paul Muolo
Is there anything wrong with conducting a mortgage sale? Of course not, but by giving up profits...
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Mortgage LO Overtime Pay Hangs in the Balance as Supreme Court Hears Arguments

December 4, 2014
Thomas Ressler
The MBA’s legal counsel tried to begin by focusing on the dividing line between interpretative rules and legislative rules, but soon found herself having to defend the trade group’s support for the DOL’s original 2006 position.
Read More

Richey May: Two-Thirds of Mortgage Firms Added Staff in 3Q14

December 4, 2014
Paul Muolo
The fourth quarter of 2014 is turning out to be decent in terms of applications and pipelines.
Read More

Short Takes: Origination Profits Down 6 Percent / Black Knight: Foreclosure Inventory Continues to Head South / Underwater GSE Inventory / Purchase-Money Stand-Outs According to IMF / UWM Names Chief Digital Officer

December 4, 2014
Paul Muolo
If you’re looking to buy a foreclosure for a quick “flip,” you might want to act quickly. Inventory is shrinking rapidly...
Read More

Short Takes: Mortgage Job Outlook for 2015: Go With the Nonbanks / Thanksgiving Gives Mortgage Business Indigestion / Warehouse Execs Flock to Trade Show / Questions Raised on New Warehouse Firm / HUD Finally Gets #2

December 3, 2014
George Brooks and Paul Muolo
We’ve heard scattered reports about a new nonbank warehouse provider that is offering extremely cheap financing while asking for large fee payments upfront...
Read More
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