“The entire subject of ‘mini-corr’ and the CFPB’s interpretation is the result of a witch hunt perpetrated by one of the lawyers that moved from the Federal Reserve Board,” said one disgruntled broker.
“Prospect has a target list and they have an audience,” said one advisor. “But so far, in the mortgage M&A market there has been a lot of talk – with not too many deals getting done.”
Union Mortgage has been losing some of its top executives over the past year. A few months back, its president and CEO Robert Eastep departed for Stonegate Mortgage…
Even if home prices fall by 10 percent, most borrowers in jumbo MBS issued in recent years will have more equity than they had at the time of origination, said Grant Bailey of Fitch Ratings.
A signing bonus for an LO sounds nice, but keep in mind that a lender has to find a way to pay for that bonus, which could result in an increase in pricing.