Origination

Late last week we blogged about how certain wholesalers are telling their loan brokers to take a number when it comes to getting approvals (and processing) on purchase money mortgages. We heard from a handful of brokers who said their wholesalers were different and from a few wholesalers who said they can move things along quickly.

I recently chaired a successful webinar on CFPB examinations. So successful in fact we will be doing another regulatory compliance webinar on Sept. 27.

Out of the 92 actions filed by Pennsylvania's Bureau of Compliance, 90 orders were against companies for statutory violations, resulting in fines of $277,525.

Ocwen Financial—an avowed nonblank—is in the envious position of being among the nation’s fastest-growing specialty servicers with a niche in processing problem loans that no other company will touch.

According to bank earnings reports of the past few weeks, residential fundings are on a tear—with the anticipation that application volumes will continue to hold steady or increase.

Reading the tea leaves of Jamie Dimon's periodic executive shakeups can be a tricky business, but on Friday Matt Zames became one of the stronger shapes to emerge from JPMorgan Chase's latest shuffle.

If the CFPB makes brokering impossible, how many brokerage shops can afford to convert into a mortgage banking firm? The capital requirement is currently $2.5 million, while rumors persist that it may be hiked to $3.5 million over the next few years. The net worth requirement is set by Fannie Mae, Freddie Mac, and GNMA/FHA…

Gateway Mortgage Group, is looking to move into new markets by creating strategic partnerships with homebuilders and Realtors. It is also looking to expand on a traditional retail basis into Florida. And it has hired David Robinson to oversee both prongs.

In total, more than $10 million in fraudulent mortgages on more than 40 properties were obtained during the conspiracy.

Gordon Smith, who was just named co-CEO of consumer and community banking at JPMorgan Chase & Co., will assume responsibility for the megabank’s mortgage banking operations in early 2013.