The agency mortgage-servicing market continued to grow at a steady pace during the third quarter of 2018, fueled by strong purchase-mortgage originations, according to an exclusive ranking and analysis by Inside Mortgage Finance. [Includes two data charts.]
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With loan production on the wane and profit margins thinning, warehouse lenders, financiers and even regulators are growing increasingly anxious about nonbank liquidity, a topic that received an airing at the annual convention of the Mortgage Bankers Association this week.
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Warehouse executives speaking on a panel at this week’s annual Mortgage Bankers Association convention offered a somewhat bleak view of the market.
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Policy changes are coming down the pike for participants in government lending programs to enhance and improve operations, compliance and customer service, according to agency representatives speaking at the Mortgage Bankers Association’s annual convention in Washington, DC, this week.
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The Consumer Financial Protection Bureau will issue a new rule that clarifies what lending practices will be considered “abusive,” said Acting CFPB Director Mick Mulvaney, speaking at the annual convention of the Mortgage Bankers Association this week.
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As part of a multi-year language access plan, the Federal Housing Finance Agency and the government-sponsored enterprises this week introduced the first phase of a mortgage translation clearinghouse to better serve Spanish-speaking borrowers.
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Both Wells Fargo and Bank of America are rolling out digital mortgage application services this year. Speaking at the annual convention of the Mortgage Bankers Association this week in Washington, the megabanks said they are seeing increased utilization of digital solutions by mortgage clients, which will in turn change the role of loan officers.
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Outside counsel for nonbank lender Castle & Cooke Mortgage disputed several statements included in an Oct. 12 Inside Mortgage Finance article about the firm and one of its investors.
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