Posted To: Pipeline Press
Are you sure that you want to keep originating FHA loans? There’s a lot of profit per loan, but it is easy to see why some companies like Chase have really pulled back from originating them. Branch Banking & Trust Company, a unit of BB&T Corp, is the latest in a growing list of companies smacked by fines, and will pay $83 million to settle charges that it originated and underwrote federally insured mortgages that did not meet federal requirements. The U.S. Justice Department said that BB&T, as a "direct endorsement lender" in the FHA's mortgage insurance program, failed to comply with FHA origination, underwriting and quality control requirements. Yay! " The new HMDA data is out! The new HMDA data is out!" Well, the 2015 HMDA data is out. Have at it! Yes, the 2015 raw origination...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2dqhog3
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