Sales Mgt., MLO Jobs; Non-QM, Processing, ECOA, Subservicing Tools; Administration and Housing
Apr 9 2021, 8:07AM
What’s new out there? Queen Elizabeth’s husband Prince Phillip has passed away this morning at age 99. Wealthy people in New Yorkseem to be fleeing to live in other states with a lower tax rate. Both Freddie Mac and Fannie Mae released QM loan information that maps out their policies. Any lender originating Agency loans should be aware of their requirements and their effective dates related to their purchase of loans subject to the Qualified Mortgage (QM) Rule and originated relying on the GSE Patch. And tongues are wagging about the proposed CFPB RESPA Servicing Rule with protections for borrowers affected by the COVID emergency. Industry players are questioning the regulatory authority to issue a blanket prohibition on foreclosure through the end of the year and are concerned that the contractual disruption for investors might lead to lawsuits against the agency. Attorney Brian Levy, in his latest Mortgage Musings, “boldly goes where no man has gone before” with a Star Trek reference-laden questioning of CFPB’s psychoanalysis of the US borrowing public. And lenders are working on a lower cost structure ahead of changing volumes and lower margins: the audio version of today’s commentary is available here, sponsored by Candor, the dynamic, adaptive underwriting engine, and features an interview with CMO Brandie Young on how underwriting productivity can be increased, saving money.