July 30: Mortgage jobs; EverBank to focus on correspondent; CFPB weighs in on ECOA & ARM disclosures; FHA MIP disclosure issue?
Uh oh, just as I head to New York, this comes up. When the new MIP rules went into effect, disclosures needed to be updated. A very informal poll of correspondent investors indicates that some lenders got it wrong, and under disclosure rules, it isn’t necessarily curable, which creates loans that are unsalable due to compliance…