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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From HW Magazine

The CFPB’s appalling double standard

On TRID, discrimination and accountability: “Do as we say, not as we do”
For months the Consumer Financial Protection Bureau was adamant that despite repeated pleas that the mortgage finance industry would not be ready for the Aug. 1 effective date for the onerous TILA-RESPA Integrated Disclosure rule, that it was a hard deadline.
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From HW Magazine

Interview: Mat Ishbia, CEO of United Shore Financial Services

From Big Ten baller to mortgage-lending maven
But how many of us can reach out and touch our dream, and then decide to go another way? How many have the guts and strength to take a leap into the unknown, and then once we find solid footing in the unknown, how many of us have what it takes to not only survive but to thrive? Mat Ishbia is one of those people.
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From HW Magazine

How mobile technology is changing the game for property preservation

The rise of the machines
Investors today crave certainty, the kind that results from lots and lots of data points. To provide that degree of assurance, field service providers have taken data collection to a whole new level. Just in the last 12 months, the explosion of available real-time data is driving a new model of field servicing that would have been unrecognizable in the past.
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Meeting the biggest challenges in field servicing

Q&A with Alan Jaffa, CEO of Safeguard Properties
The biggest challenge in field services is the ever-changing regulatory environment and scrutiny the mortgage servicing industry is under, according to this Q&A with Alan Jaffa, CEO of Safeguard Properties. But that's just the beginning.
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Guardian Mortgage CEO Marcia Phillips retires

Served as CEO since 1988; replaced by Russell Anderson
Guardian Mortgage Company announced that Marcia Phillips, who has served as the company’s president and chief executive officer of since 1988, is retiring from those positions and will become vice chairman of the company’s board of directors.
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$2 billion Ginnie Mae bulk MSR portfolio hits market

Loans carry weighted original loan-to-value ratio of 94%
Mortgage servicers seeking to get their hands on some Ginnie Mae servicing now have that opportunity, thanks to a nearly $2 billion mortgage servicing rights portfolio that’s now available for sale. Here are all the pertinent details.
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Ellie Mae revenue surges 65%

Beats earnings estimates
Ellie Mae marked another strong quarter on its books, with its second-quarter revenue surging to $65.9 million, up 65% from $40 million for the same period a year ago.
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Ocwen’s profits fall sharply in second quarter

Company announces $150 million cost-cutting program
After returning to profitability in the first quarter, reversing a trend that saw it lose $546 million in 2014, Ocwen Financial reported Thursday that it also made a profit in the second quarter – albeit a much smaller one. Here are all the details.
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