National Mortgage News – QM Rule Might Make Life Hard for Affiliated Service Providers – Daily Briefing Article

by Brian Collins

Mortgage companies that own title companies are worried that the qualified mortgage rule the Consumer Financial Protection Bureau is slated to unveil Thursday will penalize the use of affiliated service providers.

Read the full article via National Mortgage News – QM Rule Might Make Life Hard for Affiliated Service Providers – Daily Briefing Article.

NAMB Gov’t Affairs Update – YouTube

Published on Jan 6, 2013

4 items in the update –

1) The NAMB Government Affairs team has met with the CFPB last week. We will be working with them very closely this year the rules are finalized.

2) Please reach out to your congressman and introdce yourself as a constituent and voter…..and an expert on hosing related issues.

3) Fiscal Cliff agreement helped housing. Mortgage debt forgiven in shortsales is still tax deductible and mortgage insurance is still tax deductible for qualified borrowers.

4) Save the date!!!! March 10, 11, 12 – Join us in DC for the 2013 NAMB Legislative and Regulatory Conference. Join us as we lobby on Capital Hill to help fight for the housing and mortgage industry.

Email us with any qestions at governmentaffairs@namb.org.

Sincerely,

John

via NAMB Gov’t Affairs Update – YouTube.

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Nationstar Mortgage Originations Holding Up

Quarterly loan originations are holding up at Nationstar Mortgage Holdings Inc., and signs point to more of the same. Servicing, however, was down.

In its fourth-quarter 2017 earnings report, the Dallas-based mortgage banking firm disclosed income before income tax expense of $58 million.

Earnings sank from $317 million in the final-three months of 2016. But results were stronger than $12 million in the preceding three-month period.


Source: Mortgage Daily

Retail, Reverse Overcome Lending Slump at Ocwen

Total mortgage originations weakened last year at Ocwen Financial Corp. But retail lending and reverse mortgage production both significantly increased. Also improving was delinquency.

Prior to income taxes, Ocwen had a $45 million loss during the final-three months of last year, according to its fourth-quarter earnings report.

Losses widened from $10 million in the same three months during 2016. But the West Palm Beach, Florida-based company cut its losses from $27 million the previous quarter.


Source: Mortgage Daily