Mortgages with uncured TRID violations will have higher losses if they default, owing to the potential for increased legal costs and damages, said Moody's.
In response to its anxiety, the Inspector General plans a series of audits that will study the risks posed by an increasing volume of nonbank loan sales.
First Guaranty Mortgage Corp., Frederick, MD, originated $940 million of home mortgages in the first quarter, a 48 percent jump from the same period a year earlier.
Quicken once again ranked first among all FHA lenders, funding $2.46 billion during 1Q, more than double the volume of its closest competitor, Wells Fargo.