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Redwood Trust Set to Issue its First Non-Agency MBS Backed by ‘Expanded Prime’ Mortgages

August 31, 2017
Brandon Ivey
The new MBS from Redwood will include a mix of safe-harbor qualified mortgages, rebuttable presumption QMs, non-QMs and some loans not subject to QM standards.
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New HECM Underwriting Changes Could Reduce Program Volume by 20 Percent

August 31, 2017
George Brooks
During a press briefing with the media this week, HUD officials estimated there are roughly 24 million seniors with untapped equity in their homes…
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While Nonbank Mortgage Stocks (Walter, Ocwen) Tank, ‘mREITs’ Excel

August 31, 2017
Paul Muolo
Several top-ranked REITs are now trading much closer to their 52-week highs than their lows while maintaining hefty dividend payments to their shareholders.
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Mortgage Applications Take a Late Summer Vacation

August 30, 2017
Sherry Muolo
The refi share of new applications continues to rise…
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Short Takes: Richard Cordray, Still on the Job / Coming Soon: 2Q17 Warehouse Ranking / New Bank Statement Loan Takes Off / Berkshire Now BofA’s Largest Shareholder / A New Hire for Falcon

August 30, 2017
Paul Muolo and Brandon Ivey
Earlier this month, nonprime lender Citadel Servicing Corp., Irvine, CA, launched a one-month bank-statement program for self-employed borrowers.
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GSE Single-Family MBS Business Edged Higher in July

August 30, 2017
John Bancroft
In July, the top five GSE loan sellers were Wells Fargo, Chase, Quicken, PennyMac and AmeriHome Mortgage…
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HUD Quadruples the Upfront Reverse Mortgage Premium. NRMLA Not Happy

August 30, 2017
Paul Muolo
NRMLA said the changes "diminish the benefit (amount of loan proceeds) available and increase the costs (increased upfront mortgage insurance premium) to most borrowers.”
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Errors in Moody’s Database Prompt Reassessment of Ratings on Nearly 1,000 Pre-Crisis Non-Agency MBS

August 30, 2017
Brandon Ivey
Problems regarding the ratings of IO tranches of pre-crisis non-agency MBS emerged in June of this year...
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Eli Global Wants to be a Player in Mortgages, but Who Are These Guys?

August 30, 2017
Paul Muolo
Another source added: “Eli’s interest in the industry is legit. They want to buy and hold companies.”
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MBA: Production Profits Soared in 2Q17 – Thanks to a Reduction in Expenses

August 30, 2017
Paul Muolo
Meanwhile, net servicing income fell to $27 per loan in 2Q17 from $225…
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