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June 9, 2014

PIMCO Amasses 10.6 Percent of PHH, But Stock Hardly Budges

By Paul Muolo

At March 31, PIMCO did not even rank among the top institutional holders of PHH Corp. As one analyst quipped: "Maybe they like the valuation."

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HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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