Origination of IO Mortgages Spiked by Almost 37 Percent in 2016 April 4, 2017 Brandon Ivey PHH Mortgage, which is restructuring its operations, was the top ranked interest-only lender in 2016…Read More
In its Latest PHH Filing, the CFPB Sticks to the Main Premise: the Bureau’s Structure is Constitutional April 4, 2017 Thomas Ressler The CFPB noted: “The bureau’s constitutionality has been challenged frequently, but has yet to be addressed by a court of appeals…”Read More
Fast-Growing Nonprime Lender Angel Oak Adds Four Executives, Aims to Double Sales Force April 4, 2017 Paul Muolo Angel Oak employs 52 wholesale account executives and hopes to add three to four additional ones a month.Read More
Coming May 1: FHA’s New Loan Review System (Defect Taxonomy) April 4, 2017 George Brooks The ultimate goal of the LRS is to reduce lenders’ liability risk and minimize overlays…Read More
Short Takes: Skyline Posts Strong Purchase Lending Numbers / Banks and CUs Pony Up to the IO Bar / Flagstar’s New Wealth Advisory Business / Thanks to AVMs and Google Earth, All Appraisers May be Toast / Frommeyer Leaves NAMB April 4, 2017 Paul Muolo A former Utah appraiser said she lost her job to AVMs and now drives a bus for $40,000 a year...Read More
Signs of Life in the Ginnie Mae Servicing Market? Not Really, but… April 4, 2017 Paul Muolo Servicing brokers believe that the relatively strong showing in Ginnie transfers in the fourth quarter might have been an aberration…Read More
Prime Non-Agency MBS Bounces Back in 1Q17 April 3, 2017 Brandon Ivey Just two firms – Redwood Trust and JPMorgan Chase – continued to dominate jumbo issuance in the first quarter…Read More
Deephaven Mortgage Preparing a $223 Million Nonprime MBS April 3, 2017 Brandon Ivey Deephaven operates solely as a secondary market buyer of whole loans...Read More
And the Beat Goes On: VA, MBA Continue Work on Finding a Solution to Aggressive VA Refis April 3, 2017 George Brooks Pete Mills of MBA said the revised policy was intended to “take some of the economics out” of serial refinancing…Read More
Invitation Homes Reveals FY 2016 Results: a $96.8 Million Loss April 3, 2017 Paul Muolo Invitation Homes also has unsecured warehouse loan agreements with its sponsor…Read More
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