Last year, Fannie and Freddie announced some relief to lenders under their Reps and Warrants. Under this announcement, lenders could receive relief from responsibility…
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June 2, 2015
Lender Held Accountable for Broker’s Conduct
Provident Funding Associates, a major California-based wholesale lender, recently settled with the Consumer Financial Protection Bureau and the Department of Justice to the tune…
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May 21, 2015
Radian’s New Mortgage Insurance Doubles Down on Default Protection
I was chatting with a friend, John Castiello, who works at Radian about the potential pitfalls associated with high Loan-To-Value lending. If you’ve followed…
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May 19, 2015
Data and Manufacturing Quality Matters
(Except from MarketLogics 5-18-15) Imagine that data quality and appropriate manufacturing of mortgage loans really do matter. Think about this quote from the NYTimes…
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May 18, 2015
Are Wells Fargo’s Loans Too Safe to Fail?
Senate Banking Chair, Richard Shelby, introduced regulatory relief legislation known as the “Financial Regulatory Improvement Act of 2015”. Among other things, this Act calls…
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May 12, 2015
Looking to Purchase or Finance a Bed and Breakfast?
Your options are limited! Lenders beware – the financing of Bed & Breakfast facilities can result in a Repurchase or Indemnification Agreement Request. Recently,…
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May 5, 2015
Utility vs. For Profit
(Excerpt from MarketLogics 5/5/15) It is amazing how mortgage banking is so entrepreneurial, compared to the lack of innovation from the other industries that…
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April 24, 2015
The Gloves Come Off
Now, here’s the other side. The DOJ has filed suit against Quicken loans for the improper origination of FHA-insured loans (Return Fire). DOJ alleges…
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April 23, 2015
Real Whistle Blower of New Jersey
You may know him better from the reality TV show on Bravo, “Real Housewives of New Jersey”, but Jim Marchese, a mortgage lender, is…
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April 22, 2015
Turnabout is Fair Play
Have you heard about the one where the lender sues the government for false accusations? Who says you can’t fight city hall? One lender,…
