American Mortgage Consultants Buys JCIII; Creates Largest Due Diligence Firm? December 21, 2015 Paul Muolo No purchase price was disclosed. The deal was first hinted at Friday on IMFnews.Read More
Short Takes: Don’t Let Your LOs Prepare TRID Disclosures? / LO ‘Scorecards’ on the Rise? / REIT Sub Gets FHLB Membership / CoreLogic Buys Vendor for $475 Million / A New Hire for Home Point December 21, 2015 Brandon Ivey, Paul Muolo, and Sherry Muolo We’re hearing more chatter of mortgage lenders starting a loan officer “scorecard” approach to grading their salesmen and women...Read More
Merrill Lynch Renews PLS Contract with PHH – But This Time Around It’s a ‘Non-Exclusive’ Arrangement December 18, 2015 Paul Muolo The BofA spokesman, when asked by Inside Mortgage Finance whether the bank will deliver fewer loans going forward, declined to comment.Read More
What We’re Hearing: No Trouble or Big Maybe-Trouble for PHH? / The Key Bank Dilemma / Subprime Ready to Roar? / What’s a ‘Safe’ Level for Subprime? / Chronos in M&A Deal / TRID Fines of $5K Per Day Per Violation December 18, 2015 Paul Muolo Rod Alba of ABA offered up this sobering thought: for violating the TRID rule, lenders could be fined up to $5,000 per violation, per day. Read More
Look for TRID Compliance Exams by Mid-Year 2016; Fear of a Credit Crunch? December 17, 2015 Paul Muolo and Thomas Ressler The CFPB will scrutinize a lender's TRID training and, potentially its handling of early technical problems, said one webinar panelist...Read More
FHFA GSE Scorecard for 2016: A Lot More Credit Risk Transfers, Looser Underwriting, More… December 17, 2015 Paul Muolo The FHFA also is promising to evaluate GSE underwriting criteria to improve access to single-family credit...Read More
Short Takes: Comments Being Taken on Front-End Risk Sharing / FHFA Contemplates MIs Once Again / Will Stock Buyback Help Nationstar? / The Fed Hikes Rates and Mortgage Bankers Yawn / Apps Up December 17, 2015 Brandon Ivey, Paul Muolo, and Sherry Muolo The Fed hiked rates. So what! It was already built into current pricing...Read More
Just 23 Percent of Mortgage Professionals Vote for an FHA Premium Cut December 16, 2015 Paul Muolo The IMF poll also found that some in the industry believe the MMIF minimum capital ratio should be raised to 4 percent...Read More
More Tales of TRID Implementation Disasters: Law Firm Asks for the ‘HUD-1’ Form December 16, 2015 Paul Muolo One trade group rep noted that “anyone telling you” the TRID transition process “is somewhat smooth, is full of it.”Read More
Short Takes: Angel Oak Nonprime MBS a Done Deal / GSE ‘Jump Start’ Moves Along / Time to End the GSE Profit Sweep? / MBA Continues to Stump for ‘Transitional’ LO License / Sage Bank Settles Lending Discrimination Charges / New Hires for Ranieri December 16, 2015 Paul Muolo and Thomas Ressler The CHLA is renewing its call for Treasury and the FHFA to amend the preferred stock purchase agreements once again, allowing the GSEs to build capital...Read More