Private MI Updates; FHA/VA changes; Lenders Should Pay Attention to Wells’ Settlement


Posted To: Pipeline Press

Last week I was in Coeur d’Alene (for Banner Bank’s sales staff celebrating a great 2015) and I was reminded that tomorrow is “Free Cone Day” at Ben & Jerry’s! Do they have ice cream in prison? I don’t know, but here is an interesting quick read on a mortgage person’s trip to prison . Gosh, if I were a lender I would be chomping at the bit to originate FHA loans! (Is there a sarcasm font?) Although lenders are certainly happy to originate and grab market share in profitable FHA loans, it is not hard to see why others, such as Chase, have scaled way back in the government program. The news of an expected Wells Fargo/Department of Justice settlement came out in February, but not the magnitude! The Department of Justice announced that the United States has…(read more)

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