Unhappy With the New FHA Certification Proposal, Wells Fargo Will Add Back ‘Credit Overlays’ September 2, 2015 Paul Muolo According to figures compiled by Inside FHA/VA Lending, Wells ranked second among all FHA retail originators in the first half.Read More
Short Takes: Banks Get a Pass From the CFPB / Fannie Sells Special NPL Pool / The ‘Adverse’ Fee is Dead / Fair Housing Suits Revived / Things Not Looking Up for Genworth September 2, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo The CHLA noted that almost 99 percent of depositories are exempt from exams conducted by the Consumer Financial Protection Bureau. Read More
Thanks to TRID, Realtors are Altering Their Purchase Contracts; Longer Timelines September 1, 2015 Thomas Ressler Meanwhile, 37.0 percent of realtors indicated they have put together plans with their lender or title company to help even out the process...Read More
Continued Stock Market Swoon Could Spell More Refis September 1, 2015 Paul Muolo Moreover, one warehouse executive told IMFnews that he is beginning to get requests for increased capacity. Read More
M&T Settles Allegations That It Used ‘Neighborhood Racial Criteria’ for Mortgage Product September 1, 2015 Brandon Ivey M&T sought a dismissal of the lawsuit in April, claiming that its loan officers were acting based on legitimate, non-discriminatory reasons. Read More
Stearns Official Clarifies What Blackstone Will Do With Mortgage Units September 1, 2015 When the Stearns announcement was made some of its competitors began speculating on what might happen to the acquisitions down the road.Read More
Short Takes: A New Round of Cost Cutting at Stonegate? / No, the White House is Not About to Settle Those ‘Takings’ Cases / Greed is (Still) Good / Lykken Goes Solo, Sort Of / Comergence Hires Giorello September 1, 2015 Paul Muolo Pershing Square and Perry Capital began loading up on GSE “junior” preferred two years ago, but not because they thought it was a great investment...Read More
HUD Extends Comment Period on Key Issue of ‘Certifications’ September 1, 2015 George Brooks Some in the industry, including the MBA, feel the certification language lacks clarity... Read More
GSE Buyback Activity Slows Again in 2Q15; A New Low August 31, 2015 John Bancroft Almost 60 percent of the repurchases made in the first half of 2015 involved loans that were securitized by the GSEs in 2013 and 2014.Read More
CFPB’s ATR Rule Seen as Helping Increase Certainty for Lenders, But… August 31, 2015 Brandon Ivey The rating service predicted that in the coming months, more lenders will be willing to offer non-QMs that allow for debt-to-income ratios above 50 percent and credit scores as low as 620.Read More