TRID is Everywhere; Cost of Regulation for Banks and Nonbanks

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Posted To: Pipeline Press

Is the residential loan officer job at a bank going to go the way of the pinsetter in a bowling alley, the guy who delivered blocks of ice for the refrigerator, or lectors (people hired to read the news to illiterate cigar rollers)? It is doubtful. But along comes a headline saying, " Traditional bank mortgages are losing ground to nonbank lenders , especially in cities with a hot housing market " and it makes one wonder. But staffing, including revenue-generating employees, at the 10 largest investment banks has decreased 2% annually since 2011, according to Coalition Analytics. Much of the reduction has been attributed to regulatory changes and pay restrictions. Revenue declined 4% in the first half of this year compared with the same period in 2014. The nation continues to lose depository...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/09112015-shemitah.aspx

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