Borrower Paid vs. Lender Paid Originator Compensation; Servicing Deals; Early Payoffs; LO Licensing Requirement Deadline

Hot news from http://AzHomeHelp.com:

Posted To: Pipeline Press

With the run-up in rates, and the holidays approaching, loan producers are going to have their hands full closing existing locks, and MBS traders will be looking at lower supply since most MBS sales have already been done . Many investors and wholesalers are already sending out preemptive announcements regarding end-of-year timelines. Fifth Third , for example, warned its clients, "Loans that are clear to close and received in closing by noon on December 22 will close and fund for the month; however, note that due to the holidays, it may be necessary to accelerate the timeframe based on capacity. Any loans received after noon on December 22 will be undertaken as capacity allows..." The furor over servicing has died down somewhat, but that doesn't mean it has gone away. Certainly servicing continues...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com