CFPB Brings $3.1 Million Lawsuit Against Law Firm Over Debt Collection Practices December 29, 2015 Thomas Ressler No mortgage-related misconduct was alleged in the bureau’s latest action, but servicers shouldn’t take much comfort from the omission... Read More
California Remains the GSE Loan King December 29, 2015 Paul Muolo California also has the distinction of having one of the higher broker-GSE ratios in the nation: 21.5 percent. 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
Behind the GSE Risk-Share Goals: Why Next Year’s Activity Could Turn out to be Less December 29, 2015 John Bancroft In 2015, the two GSEs sold credit risk on about $407 billion of UPB through their back-end risk-transfer programs. The actual amount of credit risk transferred was $12.6 billion.Read More
United Wholesale Mortgage Bucks the TRID Trend: No Delays in Loan Closings December 28, 2015 Paul Muolo Mat Ishbia of UWM said the money his company spent getting ready for TRID is an expense "for the long haul..."Read More
Subservicing Contracts Continue to Rise; A 28 Percent Gain YoY December 28, 2015 Paul Muolo In a recent report, Freddie Mac economists said subservicing likely will “persist and perhaps grow.”Read More
More Front-End Changes to Deal With: GSE Loan Application Will Undergo a Major Redesign December 28, 2015 Carisa Chappell New data fields will be added to support Fannie’s and Freddie’s requirements, as well as those required by the FHA, VA, USDA and CFPB...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
MorVest Capital Unloads Ginnie Mae MSRs; Another Deal in the Works December 28, 2015 Paul Muolo The new offering is in the $1 billion range. MorVest hopes to complete the sale by the end of January.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