• In a few days the Labor Department will release its monthly employment report. Here’s a prediction: The mortgage brokerage sector will show an increase in jobs. We’re not sure by how much, but it will be a gain.
• Is the future suddenly looking a little better for loan brokers? Yes and no. Some think it’s just a matter of time before they all go to work for a net branch or mortgage correspondent. Others say the new CFPB rules give professionals some breathing room.
• We’re told that one large bank, indeed, is asking some of its top loan officers to sign an agreement not to get licensed. Reason: They want to keep these LOs. Some might receive something in exchange for signing. See the full story in the Monday paper edition of National Mortgage News. Don’t subscribe? Call 800-221-1809.
• Carrington Mortgage recently hired Lynn Halstead as vice president of wholesale. She replaces Alan Potts who left not too long ago.
• Over the past two months Total Mortgage Services lost
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FOR THE DATA RECORD: Two nonbanks were the fastest-growing loan servicers in the second quarter. For a ranking of the top 100 and delinquencies per company, see
KEY INDUSTRY MORTGAGE SHOWS: On Sept. 13 and 14 SourceMedia/National Mortgage News will hold its annual Mortgage Regulatory Reform conference in Arlington, Va. Rep. Scott Garrett is slated to give one of the keynotes.
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FINAL WORD: Have a happy and safe holiday season. If you’re at a beach, the best part of the day is late afternoon. (For reference, see Edward Hopper.) Go Hawkeyes!
