Short Takes: More MSR Auctions on the Way? IMA Selling Almost $4B / PIMCO and PHH / Lawyers In Love – With Another Firm / Nonbanks and Jumbos / loanDepot Announces New Hires March 9, 2016 Paul Muolo and Thomas Ressler Among the top 10 non-agency jumbo mortgage producers in 2015 just two are nonbanks: PHH Mortgage and Redwood Trust.Read More
Lenders Plan for Growth but Anxious About Compliance March 9, 2016 Thomas Ressler Roughly 88 percent of lenders said they expect to grow their mortgage origination business in 2016...Read More
The QM Rule Didn’t Chill Mortgage Credit – Blame ‘Market Dynamics’ Instead March 8, 2016 Thomas Ressler The market had largely abandoned risky lending products before the QM rule ever kicked in…Read More
CFPB Now Accepting Complaints About Online ‘Marketplace’ Lenders March 8, 2016 Thomas Ressler Marketplace lenders may want to beef up their compliance staffs: The CFPB is now accepting complaints.Read More
The CFPB Has Four Mortgage Priorities Over the Next Two Years March 4, 2016 Thomas Ressler The CPFB it will continue to work with institutions to support implementation of its mortgage rules and “begin to assess the effectiveness of significant rules.”Read More
And Yet More Damage Caused by TRID: The Elimination of Mortgage Products March 2, 2016 Thomas Ressler “It’s clear from this survey and our discussions with bankers that TRID compliance remains a significant concern,” said ABA's Bob Davis.Read More
Mayer Brown Law Firm Adds Five Veteran Mortgage Attorneys; Will Help Lenders Deal with Regulators February 29, 2016 Thomas Ressler Among other things, the attorneys will represent clients in supervisory matters before the Consumer Financial Protection Bureau...Read More
Securitization Chief Rings Warning Bell on International Rules and their Effect on the Economy February 26, 2016 Thomas Ressler Any of these regulations might be a concern in isolation, said Johns, but the cumulative effect will damage the U.S. economy and more…Read More
CFPB’s ‘No-Action’ Policy Could Stymie Mortgage Innovation February 25, 2016 Thomas Ressler Mortgage product innovation could be dead thanks to a new policy from the CFPB...Read More
Short Takes: Don’t Cry For Me Democrats Who are Jumbo Borrowers / TRID Rule Nicks Xome / ‘Inorganic’ Growth for PHH / PennyMac Steps Up Buybacks of Common Shares / Fewer Gripes About Debt Collection Practices February 25, 2016 Paul Muolo and Thomas Ressler Suddenly, mortgage firms left and right are buying back common stock in the open market...Read More