Regulatory uncertainty, toxic environment drive Wells Fargo, Prospect out of MSAs

Trending Thursday: Is the job description “financial press” or “palace guard?”

From the Fed to FannieGate, plus the impact of banking regulations and more

Question remains: When will interest rates start rising?

3 different expert predictions
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Lending

CFPB to mortgage industry: Get out of MSAs

Industry calls move regulation by enforcement
The Consumer Financial Protection Bureau wants to mortgage lenders to stop using marketing services agreements, and it’s using the stick rather than the rules process to do so. The industry says no fair, that's regulation by enforcement. What do you think?
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Regulatory uncertainty, toxic environment drive Wells Fargo, Prospect out of MSAs

Recent RESPA interpretation cited as top concern
Two major players in the mortgage space are discontinuing marketing activities that depend on Marketing Services Agreements because of regulatory uncertainty, recent interpretations of RESPA, and a generally toxic environment because of inconsistent CFPB enforcement. And more are rumored to be dropping MSAs, too. Here's why.
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LRES names new VP of sales

Nick Grant brings wealth of industry experience to role
LRES hired Nick Grant as vice president of sales, where he is responsible for managing LRES’ sales and business development operations, building customer relationships and growing new relationships with mortgage lenders and servicers.
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Nationstar posts 2Q net income of $75M

Strong originations provide comeback after first quarter losses
Nationstar Mortgage Holdings reported quarterly net income of $75 million, or $0.69 per share, for the second quarter, compared to net loss of ($48) million, or ($0.53) per share, in the first quarter 2015. Want to know more?
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