Short Takes: Yet More TRID Problems? / CFPB Looking at ‘Pricing Concessions’ / NAMB Backs Savitt for House Seat / Ocwen Gets a B+ From KBRA / Lender Hires Former Capital One Executive January 5, 2016 Brandon Ivey and Paul Muolo Industry consultant Joe Garrett is advising his clients to keep a “concession log…” Read More
Jumbo MBS Issuance Declines in Q4; Outlook Not Go Great January 4, 2016 Brandon Ivey Nine firms issued jumbo MBS in 2015 and JPMorgan Chase was the top issuer for the second year in a row. Read More
Liberal Consumer Group Wants to Trim Mortgage Interest for Jumbos January 4, 2016 Brandon Ivey “There is no policy rationale for the federal government to continue to subsidize the portion of mortgages that exceed $500,000,” said Sheila Crowley, NLIHC’s president and CEO.Read More
Non-QM Trouble Ahead: Why Some Lenders Avoid the Empire State December 31, 2015 Brandon Ivey Eric Morgenson, a sales manager at Angel Oak, said the lender’s main concern involves New York's foreclosure timelinesRead More
SEC Faults Larger Rating Services for Issues Tied to Reviews on Non-Agency MBS December 30, 2015 Brandon Ivey The SEC recommends that the rating service in question establish and maintain effective internal controls and more… Read More
Short Takes: The loanDepot IPO Could Happen in 2016 / Just Because the CFPB Issues a Letter That Doesn’t Mean Some Lawyer Somewhere Won’t Sue / FA: Fraud Risk Rises in FL / Radian Becomes PMIER Compliant December 30, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo Now that the Consumer Financial Protection Bureau has issued a “clarifying” letter on TRID errors, all is well, right? Not necessarily...Read More
California CU Offering No Downpayment Option, Using a 80/20 ‘Piggyback’ Loan December 29, 2015 Brandon Ivey Borrowers are required to have a credit score of at least 700 and at least three months of reserves...Read More
Short Takes: Home Prices Back to Pre-Bust Levels / Hot Growth for Denver, SF, Portland / A 10-Year HELOC / FHLB Cuts Warehouse Line / WJB Picks a New CIO December 29, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo It’s not every day that a Federal Home Loan Bank tells one of its members to reduce its credit facilities...Read More
Residential Servicers Cut Staffing Levels – But Banks Cut the Most December 28, 2015 Brandon Ivey Banks had an average of nearly 500 loans per full-time employee in the third quarter, up from almost 400 at the end of 2014. Read More
Clayton Homes Pushes Back Against Accusations of Discriminatory Lending on Manufactured Homes December 28, 2015 Brandon Ivey Clayton said the outlets’ analysis didn’t include factors such as a borrower’s credit score, downpayment, loan size, collateral and land type...Read More