According to Alice Alvey of Indecomm Mortgage U, “many shops are reassessing originator comp plans for January 2014 to adjust to the changing margins and seize the opportunity to blame it on the change in the law."
How many loans per month should a loan officer be closing when times are lean? According to Dave Lykken of Mortgage Banking Solutions, if an LO isn’t closing at least six loans per month, they might want to consider employment elsewhere.
Housing Commissioner Carol Galante warned that with interest rates rising, the FHA may have reached a “tipping point” with its mortgage insurance premiums.
If the case settles, it would be the second time in two years that a case involving disparate impact claims under the Fair Housing Act has settled before the Supreme Court had an opportunity to hear arguments.
“Our concern is whether companies have the resources internally to ensure that such arrangements are working as they should,” said one Ginnie Mae official. “Is the issuer adequately protecting itself and Ginnie Mae?”
Roughly 4,100 people have registered to attend the annual convention of the Mortgage Bankers Association, which launches Sunday night in Power City USA.
At least two young mortgage insurance firms hope to go public by yearend. But how might the market receive these deals with so much uncertainty surrounding the GSEs?