George Brooks

Editor, Inside FHA Lending, Mortgage Market Update

Recent Stories From this Author

September Issuance of Final FHA Condo Rule Unlikely
September 13, 2018 So far, the final rule has not been delivered for OMB review, a process that in the past has sometimes taken months to complete.

HECM Production Gets Clocked in 2Q18. A Long Reverse ‘Winter’ Ahead?
September 10, 2018 Analysts blamed the reduction in volume on the new lower Principal Limit Factors...

In July, FHA Delinquencies Dropped Ever So Slightly
August 31, 2018 At the end of July, mortgage bankers serviced 7.9 million FHA loans. Wells Fargo ranked first with a market share of 19.2...

What’s Going on with the FHA’s ‘Defect Taxonomy’? Answer: Not Much
August 30, 2018 Despite calls by the industry to improve and clarify the process, the FHA has yet to make a move to meet industry demands for...

Surprise: Quicken Rolls Out Private Sector Reverse Mortgage
August 15, 2018 Funding for Quicken's new reverse mortgage will come from securitization…

VA Doesn’t Like Bill that Would Increase Costs on Vet Home Loans
August 14, 2018 Both the VA and residential originators believe the fee increase would be used to cover expanded health-care benefits…

VA Production Spikes 30.2 Percent, Thanks to Strong Purchase Lending
August 13, 2018 However, VA refi business struggled in the second quarter with production falling 7.0 percent…

Industry Seeks Update from Banking Regulators on Basel, Tier I Capital and MSRs
August 8, 2018 At the very least, the MBA wants a timeframe from the regulators…

Senate Lawmakers Consider Proposal to Increase VA Home Loan Fees
August 2, 2018 It's unclear whether the proposed increase in VA home loan fees would be used to fund an expected increase in veteran...

New Report: Over Half of Flawed FHA Loans Were Cured
August 1, 2018 Roughly 59.8 percent of the reviewed loans were initially deemed unacceptable.


Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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