Pipeline Press - All Comments

re: Las Vegas and Eminent Domain; Dodd-Frank Update; HARP Date Petition; CFPB Reminders

John Paul Mulchay — Wed, 19 Jun 2013 15:07:23 GMT

It's actually North Las Vegas considering eminent domain. Different city than the gambling Mecca. It would certainly be a bigger deal if Vegas were thinking of going down this treacherous path.

re: Interpreting QM Revisions; CFPB on Originator Testing, FTC, and Underserved Counties

Jana Holmstrup — Sat, 01 Jun 2013 18:19:48 GMT

In reply to "A lender never pays compensation to a loan originator" (above) - Yes, a Lender does pay the LO when the LO is their employee. Much the same way your Company pays you. 3% would include all Lender fees charged by (paid to) your Company and any charged by the Lender (Underwriting, as example).

re: Government Furlough Days; H.R. 1077's Impact on QM And 3% Limit; MBA on GSE risk sharing

Ted Rood — Sat, 25 May 2013 04:11:05 GMT

Great work per usual, Rob. Yield spread premiums (YSD) have helped borrowers do "no cost" refinances and avoid paying origination points for decades. YSD has always been disclosed on settlement statements (now on GFE's as well), and is neither secretive nor difficult to understand: a borrower accepts a slightly higher interest rate in exchange for lower closing costs (or a credit towards those costs). YSD is the flip side of paying points to lower a loan's rate, which has never been controversial. Pending QM reforms capping costs (and including YSD) at 3% will limit options for borrowers with low loan sizes, hurting those borrowers most likely to be economically challenged. Closing costs vary dramatically by state, depending on whether attorneys are required, state fees and taxes, and wide variance in title fees. Putting a "one size fits all" cost cap of 3% on QM's virtually guarantees low loan sizes in high cost states will NOT be QM's, resulting in higher rates and costs for borrowers

re: Can't Count on Low Rates Forever, Right? Why QE3 Could be Expensive; HUD disaster relief

The L.O. — Fri, 24 May 2013 12:49:19 GMT

good article thank you

re: FHA and the Sequester; A Note in Defense of Builder Affiliate Relationships

Sorin Lassmann — Thu, 23 May 2013 09:16:28 GMT

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re: Freddie's Non-Usage Fees; LO Comp, Land Sales, and Reg. E Tidbits - It's a Compliance World

CompetitionBenefitsConsumers — Tue, 21 May 2013 22:55:35 GMT

Dodd-Frank outlawed all 'Bad Loans', so there is no justifiable argument for 'Originator Compensation Control'. It’s just another means to reduce broker’s competitive advantage. Bank LO's still get paid pretty much as they always have, but Brokerage COMPANIES, have now been classified as 'Loan Originators' and some States have interpreted the rule as ALL Broker/Wholesale comp agreements should be the same. This removes competitive pricing flexibility leaving Brokers out of the market on big loans, unable to do small loans while Banks offer varying rates based on loan amounts. Coincidence?

re: Volker Rule's Impact on Hedging Rate Locks; Potential HARP 2.0 Borrower Pool Defined

Sorin Lassmann — Mon, 20 May 2013 20:25:32 GMT

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re: Mortgage Banking Movies?; The BofA Ripple Effect in the Industry

Sorin Lassmann — Mon, 20 May 2013 20:25:24 GMT

re: Time to Buy Fannie/Freddie Stocks Yet? Mortgage Litigation Tally, Another LPS Settlement

Jana Holmstrup — Sat, 18 May 2013 21:05:42 GMT

I believe the mortgage banker quoted in the 2nd paragraph is confusing QM Points & Fees vs. HOEPA Points & Fees vs. HPML Points & Fees. Three different rules with very different calculations. While QM and HOEPA exclude FHA's MIP - it is included in the HPML calculation and will cause huge issues if something is not changed... I do not foresee many doing HPML loans come January.

re: Is The Housing Rally For Real? Panic Locks; a Primer on Texas Cash Out Refis

Harlan Cooper — Fri, 17 May 2013 01:59:50 GMT

Regarding Texas Home Equity lending and home improvements. Home improvement loans in Texas are not necessarily home equity loans. As a matter of fact, if it is a home improvement loan it is not a home equity loan in Texas and is not subject to the constitutional provisions found in § 50(a)(6). A home improvement loan in Texas starts with a home improvement contract that establishes a material and mechanics lien...aw shucks, just have 'em call an LO in Texas that knows what they're doin'.

re: Mortgage Forgiveness Act in Jeopardy? Hiring and Retaining Employees the CFPB Way

ann smith — Wed, 15 May 2013 09:20:30 GMT

Debt forgiveness is a fantastic thing for many people, as it means less than the whole of a debt has been compensated though the debt has been satisfied. However, it's considered taxable income and the mistake of a http://personalmoneynetwork.com/moneyblog/2013/03/14/debt-forgiveness/ tax break for foreclosures or short sales of homes is set to bite some taxpayers.

re: Evolution of Correspondent Lending; What Happens if QE3 Ends? Interesting Discrimination Action

Jana Holmstrup — Fri, 10 May 2013 18:09:37 GMT

Interesting Discrimination Action??

re: CFPB's Final Rule Changes; Navy Fed's 100% Program; Reg. Z's Appendix Q; Home Ownership Trends

Jana Holmstrup — Wed, 24 Apr 2013 02:14:01 GMT

No, dude... It is Section 35 loans! Not too sure anyone is doing Section 32 even now before the changes.... {And, "Rob, It's Section 32 loans, not 35, and this issue is prevalent with all loans with low 1st TD balances}

re: Is Underwriting Too Tight?; MBA's Stance on Current Industry Topics; Agency Downgrade?

Willim Phelf — Sun, 21 Apr 2013 11:26:06 GMT

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re: Where do Industry Volumes Go in 2013; And What is Moving Rates? Chase Layoffs

Willim Phelf — Sun, 21 Apr 2013 11:22:40 GMT

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