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David Kittle of IMARC (right)
"The banks and everybody involved that settled is certainly saying that it’s time to move forward. I agree with Scott, the proof is in the pudding at the end of the day, and you have to see how it’s going to be implemented, how fast. I don’t know if concern is the right word or even worry. I don’t know which word I want to use there, but what they’re talking about in the settlement, having all these loans be done at FHA, I wonder how that’s going to take place and be implemented. The constraints the FHA is under today financially and their staff if they’re prepared to handle, if it gets to the volume that they think and hope that it will." "…The compliance now goes all the way to the new regs, compliance with the origination of the loan, which ends up in the servicing pot. To Scott’s point, I’ve owned all or part of three mortgage companies in my 34-year career. I wouldn’t open another one today."