Free Republic 2nd Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $58,333
72%  
Woo hoo!! And we're now over 72%!! Thank you all very much!! God bless.

Keyword: jpmc

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  • Lenders' Dilemma: Invest in Tech or Exit Mortgage Business (Throw In Lawsuits Too!)

    10/22/2013 8:25:54 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 10/22/2013 | Anthony B. Sanders
    Kate Berry has a nice article entitled “Lenders’ Dilemma: Invest in Tech or Exit Mortgage Business.“ The cost to originate a home loan is skyrocketing as lenders try to comply with stricter rules to catch problem loans, and some community banks and independent mortgage lenders are now facing a stark choice: invest in technology that would help automate the loan process or exit mortgage lending entirely. Origination costs are expected to rise 11% this year from a year ago, to nearly $5,900 per loan, as lenders scramble to meet tough new requirements from the Consumer Financial Protection Bureau, the Federal...
  • No Country For Mortgage Lenders: JPMC And SunTrust Staggering Mortgage Settlements

    10/11/2013 8:05:09 AM PDT · by whitedog57 · 9 replies
    Confounded Interest ^ | 10/11/2013 | Anthony B. Sanders
    The climate for mortgage lenders is definitely taking a downward turn. Wells Fargo has released their Q313 Quarterly Supplement which revealed a shrinking mortgage pipeline. WFC Originations_0 (1) Of course, this is not surprising given a rise in mortgage rates starting May 1st (Q2) and declining real household income. rhoinmbrate But the humming dragon lingering in the background is the cost of litigation for originating and servicing mortgage loans. According to JPMorganChase’ Q3 earnings report, they paid a staggering $9.15 billion in pretax legal expenses. JPM Q3 1 addbacks_0 And then there is SunTrust which has been ordered to pay...