Underwriting, Sales tools; Subservicer Product; Credit Union Primer; Legal News

Posted To: Pipeline PressThe IRS ruled on the tax treatment of business meals? True .) Congressional Bank buying McClean Mortgage? (Rumor.) A loan officer at Umpqua stealing a processor’s lunch from the lunchroom refrigerator? (Still researching.) Wall Street firms increasingly buying loans directly from lenders? (True – but remember 2006?) Fannie’s Beth Milstein retiring next year? (True.) Stearns buying Citywide? (Ask Stearns.) Every week someone asks me about loanDepot’s future. (Don’t ask me, ask loanDepot!) Pressure being put on the CFPB/BCFP to change LO comp rules? ( True .) Yup, lots going on. Legal update Remember the news earlier this year regarding Diamond Residential Mortgage? The Illinois AG issued a press release regarding the IDFPR’s investigation into former DRMC employee, Chris Schaller. DRMC issued…(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.

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Michael Ayoub, Author NMLS ID 6631