Consultant Floats Idea: Make Loan Officers Pay for Compliance Costs April 6, 2016 Paul Muolo The consultant has seen compliance costs rise, but without a commensurate cut in LO commissions... Read More
Short Takes: Discover, Liking Mortgages Again? / This Wouldn’t Happen at Yale! / WWWD? (What Will Watt Do?) / Now the Consumer Has the Upper Hand? / Stonegate Hires Alumnus April 6, 2016 Carisa Chappell and Paul Muolo FHFA chief Mel Watt is expected to issue a final decree this month…Read More
Nonprime Lender Citadel Intentionally Cuts Production Because of TRID April 5, 2016 Paul Muolo Citadel's pipeline is at roughly $150 million. Read More
Short Takes: Jumbo MBS Ugly in 1Q16 / More TRID Nightmare Talk / CSS is Hiring / Marketplace Mortgage Continue Expansion / New Hires for WFG April 5, 2016 Brandon Ivey and Paul Muolo CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.Read More
Short Takes: 20 From WJB Land at Supreme / Bad Timing? / Joe Garrett Wants to Hold a CFPB Contest / The State of the TRID Scratch-and-Dent Market / GM&C Hires Former Fannie Mae Veteran April 4, 2016 Paul Muolo We also heard one report that earlier in the year a large production group from a competitor jumped ship and joined WJB in January.Read More
The Shifting Sands of Subservicing: Growth for Cenlar; Ocwen Loses Big April 4, 2016 Paul Muolo At yearend, Cenlar ranked first in subservicing contracts...Read More
Congress Opens Doors to Ranieri/Zandi & Co. Plan April 4, 2016 Paul Muolo Of course, just because five industry vets have issued a white paper, that doesn’t mean it can readily yield into legislation.Read More
JPMorgan Cuts Back in Another Government Mortgage Program – RHS; Freedom the Buyer April 4, 2016 Paul Muolo A few years ago JPM stopped funding RHS mortgages through loan brokers.Read More
Mortgage Banking Jobs Take it on the Chin in February April 4, 2016 Paul Muolo Although BLS reported declines, recent interviews conducted by IMFnews suggest that some nondepositories are in a hiring mode this spring, especially for retail loan officers.Read More
What We’re Hearing: Cordray Caves, Issues Formal Guidance on TRID Errors / Is the CFPB In Over Its Skis? / WJB Mortgage Keeps Rincon Busy / Rep. Hensarling Promises the GOP Will Do Something About Dodd-Frank / Marketplace Home Mortgage Continues Expansion April 1, 2016 Paul Muolo How many more of W.J. Bradley's TRID-error loans will be sold in the scratch-and-dent market? Read More