House Financial Services Committee Passes Bill Revising Points and Fees August 7, 2018 Yemeng Yang The revised definition excludes from points and fees any compensation included in the interest rate and for which the consumer was separately charged.Read More
Nonbank Market Share of Ginnie MSRs: 59.9 Percent and Growing August 7, 2018 John Bancroft Wells Fargo’s agency servicing volume dropped by $9.4 billion…Read More
Zillow’s Share Price Crushed After Agreeing to Buy Kansas-Based Mortgage Firm August 7, 2018 Paul Muolo Zillow, a real estate information services company, highlighted the mortgage purchase as a key part of its third quarter results.Read More
Lobbying on the GSE Issue Moves from Congress to the Executive Branch August 7, 2018 Paul Muolo Earlier this year, Treasury Secretary Steven Mnuchin told the Senate Banking Committee he has the authority to restructure Fannie and Freddie without any change in law.Read More
PHH Continues to Sell Servicing Rights Ahead of Sale to Ocwen August 7, 2018 Paul Muolo In its earnings statement, PHH notes that Ocwen can terminate the acquisition if “available cash on hand falls below a prescribed amount…”Read More
Short Takes: R-E-S-P-E-C-T is What loanDepot CEO has for Zillow / Houlihan Lokey Advised Zillow / Shellpoint Shines / MBA Likes the Sandbox / A Handful of Promotions at PRM August 7, 2018 Paul Muolo and Yemeng Yang Anthony Hsieh of loanDepot: “Relax everyone. Competition is good." Read More
Secondary Market in Servicing Rights Gained Momentum in 2Q18 August 6, 2018 John Bancroft In 2Q18, there was a huge increase in bulk Fannie MSR transfers…Read More
Starwood Preps its First Non-QM MBS Deal. Impac a Major Provider of Collateral August 6, 2018 Brandon Ivey Starwood is now directly sourcing loans from Impac and hasn’t tapped any other originators.Read More
Treasury Gives Blessing to GSE Appraisal Waivers, More. But Moody’s Worries About AVMs August 6, 2018 Carisa Chappell The Treasury report acknowledges concerns from the appraisal industry but touts the benefits of using the waivers…Read More
Wells Fargo Says It’s ‘Very Sorry’ About Calculation Error that Led to Foreclosures August 6, 2018 Paul Muolo Wells Fargo: “As a result of this error, approximately 625 customers were incorrectly denied a loan modification..." Read More
RSS