Quicken Loans sues DOJ, HUD for “shake down”

Quicken Loans sues DOJ, HUD for “shake down”

Says agencies demanding unwarranted penalties, false public admissions

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
W S

Articles by Jacob Gaffney

Hey Yahoo, 2005 called, and it wants its mortgages back

This was the most amusing (and depressing) mortgage-related read of the week
Jacob Gaffney
“A man who spent years sleeping in a cardboard box by a bus stop found a bank account he had forgotten - with enough money for the deposit on a house.” If correct, that means he needs to get a mortgage. Truth is, no one is going to give this guy a mortgage.
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Survey says: Mortgage lenders woefully underprepared for TILA-RESPA

Mortgage origination costs set to increase
Jacob Gaffney
Capsilon Corp. polled more than 100 executives from leading mortgage lenders, and revealed that four out of five of the respondents believe that their mortgagee origination costs will jump once TILA-RESPA comes into force.
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JP Morgan CEO Jamie Dimon: “The expensive lessons that I will not forget”

Legal costs prevent big profits, for now
Jacob Gaffney
This recent retrospection is in stark contrast to the Jamie Dimon of smug bankster fame, who reportedly told Sen. Elizabeth Warren: “So hit me with a fine. We can afford it.” Billions of dollars in fines, it seems, can change one's attitude.
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From HW Magazine

Dodd-Frank fails again

Standard & Poor's shocking mortgage bond fraud
Jacob Gaffney
Ladies and gentlemen, it’s been some time since the mortgage bond world felt shaken to the core. But shaken, right now, it feels, according to several recent conversations I’ve had on the subject.
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From HW Magazine

MERS upheld

CEO: The future is binary
Jacob Gaffney
"If you look at what we do, fundamentally, MERS is the mortgagee on behalf of the investor and its assigns, it’s not a whole lot more complicated than that. And that role as an agent is well rooted in the laws of this country. So when you get down to it, and when we get challenged, we typically prevail. We simply take away all the clutter and present what we do, and what the laws actually say, and we get there," MERS CEO Beckmann said in an exclusive profile only in HousingWire magazine.
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Did little-known Arizona law start the appraiser death clock?

Gov. Ducey inadvertently hands a victory to AMCs
Jacob Gaffney
With the passage of the new state's budget, AMCs are emboldened to make a move towards pushing for more technology and fewer humans being involved in the appraisal process.
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The latest Federal Reserve data proves it’s still too hard to get a mortgage

So much for easier credit
Jacob Gaffney
According to the Federal Reserve, the recent news that mortgage credit availability increased slightly in February is counter balanced by the fact potential borrowers are still being rejected at a historically high rate. So, just how many are being rejected?
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Solar panels: Home sale deal killer?

No one wants to cover your 15-year lease
Jacob Gaffney
One couple panicked when selling their home and paid the $20k+ solar panel lease outright. The new owners, no doubt, appreciated the lower electricity bills. Other home sales, with solar panels, aren't going as well.
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UPDATED: The hidden danger to Airbnb renters will cost you big time

Plus, a bonus loophole that actually puts your family's lives in danger
Jacob Gaffney
Much has been made of the risks Airbnb landlords face when using the unregulated short-term rental service. But until now, the hidden danger to Airbnb renters has not been given nearly enough attention.
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Goldman Sachs just nailed millennial homebuying

Publishes animated graph day before housing conference
Jacob Gaffney
Anyone need to know everything about millennials, homebuying, and their spending profiles? Oh, but you only have less than 60 seconds? Head to this hugely educational, animated graph on the Goldman Sachs website.
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