Advanced Search

Volume 2016 - Number 4

January 28, 2016

A Secondary Market Develops for ‘Scratch & Dent’ TRID Loans; Even PIMCO is Eyeing the Sector

With nonbanks fearing they could be stuck with error-laden mortgages that violate the integrated disclosure rule, a secondary market has developed for this new breed of scratch and dent loans, according to interviews conducted by Inside Mortgage Finance. One investor, requesting his firms name not be identified, said his shop bought such a mortgage for 90 cents on the dollar. Participants in the market including investors and traders concede...

Subscribers to Inside Mortgage Finance have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

A weekly "must read" for industry executives. Thoroughly covers regulatory, political, legislative and market issues in the residential mortgage business.

 

Pay-Per-View

You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

On average, how much of a commission does your shop pay loan officers per loan they originate ?

25 to 50 basis points.
51 to 100 basis points.
101 to 150 basis points.
North of 151 basis points. (We expect a lot.)
We pay salary, not commission.

vote to see results