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Anyone born around this time is a Capricorn, and if you believe in horoscopes, they are the most patient and careful, and they are down-to-earth for everything. The broad stroke feature of them is adamancy: they tend to hold on to their own views and never give up before achieving the goal. I like to believe that the goal of nearly every lender is to do more volume in a compliant manner, and the volume part is going to become tougher. According to Curinos, December 2021 mortgage rate-lock volume was down 40% YoY and 17% MoM across all channels, while funded volume decreased 25% YoY and 6% MoM....

Today is about the day when you have to think twice about wishing anyone, “Happy New Year.” Okay, maybe tomorrow. There’s a lot of news out there to start 2022, including mortgage news. Moves by Freddie, Fannie, FHA, and VA have a ripple effect on the jumbo and non-Agency market as well. We were reminded of this yesterday when Freddie Mac and Fannie Mae, via their conservator FHFA, publicized April changes to their loan level price adjustments. Freddie announced “…changes to our Credit Fees in Price for super conforming mortgages and mortgages secured by seco...

Want to know who’s in trouble for what? The Consumer Financial Protection Bureau (CFPB) issued its Supervisory Highlights report yesterday, which “shines a light” on legal violations identified by the CFPB’s examinations in the first half of 2021 as well as prior CFPB supervisory findings that led to public enforcement actions in the first half of 2021. Here in San Diego at the California MBA’s Legal and Regulatory Compliance Conference, there are multiple topics of concern. For example, ActiveComply’s Melissa ...

Do you smoke weed? Have you been vaccinated against COVID? Too early in the workweek for those questions? (Is it okay to ask if someone’s been vaccinated against polio?) Some questions aren’t, can’t be, shouldn’t be, are too politically charged to be, asked. We don’t want to need a lawyer to have a conversation with a co-worker or underling. This one is a little easier: What percent of outstanding MBS (mortgage-backed securities) is owned by the Federal Reserve? The answer is 30 percent . That’s a lot. Smarter ...