One trade group official told Inside Mortgage Finance that despite efforts by the Federal Housing Finance Agency to create g-fee parity for lenders of different sizes, there has been little in the way of progress.
Are mortgage bankers so diabolical that they attempt to find a way around new regulations? Industry consultant Joe Garrett of Garrett, McAuley & Co. thinks so.
Consumer advocate Mike Calhoun questioned if lenders will offer non-QMs at all, due to the liability posed by such originations and their designation as “less safe” mortgages.
The frothy prices being offered for MSRs are beginning to cool somewhat. “There’s definitely a tighter range on bids lately,” said Matt Maurer, managing director of MountainView Servicing Group.
Paul Rozo, who runs PRMG, told us that he is not a big fan of call centers and that every LO in his organization is a “hunter,” a sales person “who relies on referral business and/or handling their own marketing."
Buyback resolutions declined by 28 percent from the second quarter, even as the government-sponsored enterprises wrapped up large-scale settlements with a handful of their largest sellers.
Many mortgage originators and aggregators say they would use some form of recording, either audio or audio/video, to help with QM compliance and fighting potential lawsuits.
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