Allowing issuers of mortgage-backed securities to originate loans "creates confusion around the bright line" between the primary and secondary mortgage markets, David Stevens says.
As drafted, the Johnson-Crapo bill would allow big banks to originate, aggregate, and guarantee mortgages. Small lenders worry such vertically integrated companies could price them out of the business.
Real estate agents and builders need to know right away if a loan can be done or not, Roland Benson says. "If it takes a week or two, it's too late."
imortgage's Roland Benson is a top producer because of the people who process, underwrite and close loans in the back office. He should know—that's where he got his start.
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From hyper-personalized "one-to-one marketing" to ad campaigns that narrowly target veterans, originators are seeking vendors' assistance in their efforts to retain and grow volume.
Done right, the mini-correspondent channel is a legitimate way to create mortgage servicing rights, but the annals of the mortgage industry are filled with solid ideas that went terribly wrong.
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People who lack a credit or work history in the United States may have trouble getting a mortgage under the new qualified-mortgage rule, bankers say. A number of immigrants are self-employed, which makes it even harder to qualify.
Mortgage lenders are retooling their approach to customer acquisition to increase business in a purchase-driven market.
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