Supreme Court to Hear Case On USDA, Credit Reports June 22, 2023 Brandon Ivey The Supreme Court agreed to take a case this week involving liability under the Fair Credit Reporting Act for a mortgage from the U.S. Department of Agriculture’s Rural Housing Service.Read More
Chase Aggregates HELOCs From Nonbanks for Securitization June 22, 2023 Brandon Ivey HELOCs originated by United Wholesale Mortgage, loanDepot and others are going into a securitization from Chase.Read More
Planet Home Acquires $10 Billion in Ginnie MSRs June 22, 2023 Brandon Ivey The acquisition boosts Planet Home’s servicing portfolio to $94 billion.Read More
Short Takes: Spring Homebuying Fizzles / Million-Plus Missed Refis / Housing Legislation Reintroduced / Reverse Stock Split June 22, 2023 Brandon Ivey High interest rates suppressed homebuying activity this spring.Read More
NCUA Head Sees Warning Signs in HELOC Activity June 21, 2023 Brandon Ivey "Warning signs are also flashing on the horizon," according to Todd Harper, chair of the National Credit Union Administration.Read More
Short Takes: MSR Offerings / Support for New ‘Trigger Lead’ Bill / Housing Inventory Hits Record Low / CRT From Freddie June 21, 2023 Paul Muolo and Brandon Ivey Plenty of MSRs available for sale.Read More
Consumer Direct Unit Changes Hands Among Smaller Banks June 20, 2023 Brandon Ivey BNC National Bank sold its consumer direct lending unit to First Federal Bank.Read More
Short Takes: Figure Expands to Wholesale / MPF Activity / Leadership Transition at Truist / New CFO at Cenlar June 20, 2023 Brandon Ivey Figure is now offering HELOCs through the wholesale channel.Read More
CFPB Plans Proposal to Streamline Servicing Standards June 16, 2023 Brandon Ivey Chopra didn't provide details on the CFPB's plans, though he noted issues with paperwork, servicing fees and credit reporting.Read More
Short Takes: Servicers Reduce Staff / New Non-QM MBS / Homebuilder Buydown Tactics June 16, 2023 Brandon Ivey Staffing levels at servicers are declining, though not nearly at the rate seen on the origination side.Read More