The American Bankers Association, in a new letter, is urging the Federal Reserve Board to delay the effective date of its loan officer compensation rule for at least 90 days.
U.S. District Court Judge Beryl Howell who is presiding over a lawsuit aimed at preventing federal broker compensation rules from taking effect April 1 said Tuesday she will rule “shortly” on the matter but offered no clear timetable.
Mortgage technology vendor Ellie Mae on Tuesday priced its initial public offering, laying out plans to raise between $40 million and $60 million.
Not only are state attorneys general pushing the nation’s megabanks to sign a servicing settlement tied to faulty foreclosure practices, but they want these institutions to sign a regulatory consent order, holding their boards’ responsible for correcting deficiencies.
Mortgage bankers likely won’t see any official proposals to revamp servicing compensation until late summer, Government National Mortgage Association president Ted Tozer said Friday morning.
Mortgagebot, the Mequon, Wis.-based provider of online mortgage rate search and loan application technology, was acquired by Canadian financial services technology provider Davis Henderson Corp. for US $231.8 million, the companies announced Thursday.
Institutional Risk Analytics on Wednesday issued a research note that blisters the mortgage insurance industry for lobbying to get MI coverage included in the definition of ‘qualified residential mortgage.’
