Is this any way to run a mortgage market?

Is this any way to run a mortgage market?

Here's the right solution

Has the mortgage market turned a corner?

Mortgage lending still below norms and signs point to...

Quicken Loans sues DOJ, HUD for “shake down”

Says agencies demanding unwarranted penalties, false public admissions
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Lending

The Mortgage Collaborative names new board members, CEO

David Kittle, Debra Still and Jim Park to serve in leadership roles
Ben Lane
The Mortgage Collaborative announced several changes to its board of directors and executive management team. After the changes, David Kittle will serve as vice chairman of the board, Debra Still will serve as secretary of board and Jim Park will serve as the Mortgage Collaborative’s chief executive officer.
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Home Point Financial expands into retail mortgage lending

Adds lending operations from Great Plains National Bank
Ben Lane
Home Point Financial, a subsidiary of Home Point Capital, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital, is launching a mortgage banking business. Here's the skinny.
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Morgan Stanley could pay $500 million in mortgage pact

Deal with NY AG still in talks
Brena Swanson
Morgan Stanley is in talks to possibly pay about $500 million to settle a probe by New York’s Attorney General Eric Schneiderman into whether the firm misled investors in mortgage bonds that cratered during the financial crisis.
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Housing advocates say FHFA g-fee adjustment not enough

NCRC: A step in the right direction, but more needed
Trey Garrison
A housing advocacy group says that the adjustments the FHFA is making to the fees it charges lenders on loans guaranteed by the GSEs doesn't go nearly far enough.
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Loan officer indicted for six counts of mortgage fraud

Scam involved multiple loan applications
Trey Garrison
A mortgage loan officer in California was indicted by a federal grand jury on six counts of bank fraud relating to a mortgage fraud scheme wherein he allegedly submitted false and fraudulent loan applications to lenders.
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Fannie Mae integrates Collateral Underwriter with Desktop Underwriter

Also looped with EarlyCheck
Brena Swanson
Collateral Underwriter continues to take shape. In the latest update, Fannie Mae announced it integrated Collateral Underwriter with Desktop Underwriter and EarlyCheck in order to help lenders more effectively manage risk and underwrite stronger loans.
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SunTrust earnings rise in first quarter

Lower expenses offset lower revenue
Brena Swanson
SunTrust experienced a good start to the year, with its first-quarter profit rising thanks to growth in noninterest income. SunTrust posted a fourth-quarter net income of $378 million, or $0.72 per average common diluted share, which included a $145 million mortgage-related legal provision.
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Is this any way to run a mortgage market?

Here's the right solution
Paulina McGrath
In spite of their Achilles heel status in the U.S. housing market, the GSEs have been intentionally left vulnerable to the slightest hiccup in either the market or their financial performance and/or the most insignificant miscalculation in their hedging strategy.
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Quicken Loans sues DOJ, HUD for “shake down”

Says agencies demanding unwarranted penalties, false public admissions
Trey Garrison
Quicken Loans says it has had all it can stand, and it can’t stand anymore. So they’re taking the government to court over what it says is a blatantly unfair federal investigation and threats of a lawsuit. Do they have a chance?
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Ocwen announces amendment to its senior secured term loan

Extends deadline for delivery of audited financial statements to May 29, 2015
Ben Lane
Ocwen Financial announced late Friday that it entered into an amendment on its senior secured term loan that will go into effect on Monday, April 20. According to Ocwen, the amendment “removes, with respect to the 2014 fiscal year, the requirement that Ocwen’s financial statements and the related audit report must be unqualified as to going concern.”
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