Paul Muolo

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Some banks will consider making lower FICO score loans as long as the applicant has substantial assets (or home equity) that can be tapped in the event of default.
When a consumer enters into a short sale it goes down on their credit report as a default, unless someone pulls a string.
It appears the wholesale channel has stabilized, which is good news for mortgage brokers.
Bank of America has roughly 10 million servicing customers.
A new year is about to begin and what better time to take the pulse of the nation’s megabanks.
The Consumer Financial Protection Bureau said it would offer limited time exemptions from current federal disclosure laws in order for those companies to research and test informative, cost-effective disclosures.
The ghost of Angelo Mozilo (who is still alive) continues to hang over mortgage banking.
Loan production expenses, which include commissions and compensation, increased to $5,163 in 3Q from $5,128 in the second quarter.
The Consumer Financial Protection Bureau says the nation’s big three credit reporting firms—Equifax, Experian and TransUnion—each have more than 200 million files on consumers.
The privately held Provident Funding Associates also ranks ninth among all residential originators and is poised to become the largest wholesaler once Wells Fargo exits the space.
Credit reporting agencies obtain at least half their information on consumers from credit card companies, according to the Consumer Financial Protection Bureau.
Who needs a lead generation firm when you have hundreds of thousands of customers in-house already?
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