Lenders say the 15-bp surcharge on broker loans penalizes low- and moderate-income borrowers and flies in the face of the principle of the level playing field.
Fee-for-service partnerships between mortgage lenders and housing counseling agencies could bring scale to the pre-purchase counseling services HCAs offer, according to industry experts.
Citi’s Sandy Furlow will help Industrial Bank, a minority depository institution, build strong controls for its future growth within the mortgage business.