The top five lenders had combined first-quarter production that was nearly even with the previous period, mostly because of substantially higher originations at Quicken and United Wholesale.
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Thanks to sustained low interest rates, auctions of mortgage servicing rights are scarce these days, but not impossible. Investors are still interested but they're cautious. Meanwhile, loan production continues to increase.
Experts differed on core issues regarding defining “abusive,” but generally agreed the CFPB could issue guidance, rather than a formal rule, to clarify the situation.
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Quicken rarely talks about its presence in the wholesale/broker market, but the company recently named a new EVP Austin Niemiec in charge of the business. Meanwhile, some have pegged Quicken's wholesale volume at $5 billion a quarter. What's going on here?
The use of automated valuation models is set to increase, prompting concerns and some optimism among industry participants. The Dodd-Frank Act directed federal regulators to address the use of AVMs but that hasn't happened yet.
A House committee last week approved a bill that would extend deductions for mortgage insurance premiums through 2020. Meanwhile, the Senate is grappling with how to address various expired tax breaks.
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HUD clarifies its FHA eligibility policy for borrowers with Deferred Action for Childhood Arrivals status. “Dreamers” remain ineligible for FHA loans.
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Mortgage Grapevine: Rushmore is buying another origination platform, a sign that mortgage M&A could be on the rise again. Meanwhile, Fannie Mae is offering buyout packages to a select group of employees.