by Constantine von HoffmanJuly 14, 2009
Legislation
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!A bill in congress would suspend a set of rules designed to reform the relationship between mortgage brokers and appraisers. The Home Valuation Code of Conduct, which went into effect on May 1, prevents lenders from directly picking appraisers [...]
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In my original dead man walking post I argued that wholesale mortgage originators (brokers) were on the way out. I pointed to all sorts of signs that seemed to point towards a future with a much smaller broker presence in the mortgage world. And, for the most part I was dead on, as 3rd-party originations [...]
Hat tip to Tyler. Visit his site.
More consolidation and reduction from Countrywide Wholesale. It makes perfect sense as the company has greatly reduced volume on strict underwriting guidelines from Bank of America and lesser demand. Bank of America earlier in the year outlined their strategy to all but eliminate wholesale lending from their lending plans; [...]
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