Fannie Mae Lends its Support to Nation’s Largest SFR Operator with a $1 Billion Commitment January 25, 2017 Paul Muolo Through the first nine months of 2016 – which represents the latest available data – Invitation Homes posted a net loss of $51.6 million, compared to a $121.7 million loss in the same period a year earlier.Read More
Short Takes: loanDepot in a Hiring Mode / Some Name Change Tweaks / Movement Mortgage Hiring as Well / Give us Back Our FHA MIP Cut / ServiceLink Fined by Feds January 25, 2017 Paul Muolo In a poll conducted by Inside Mortgage Finance, just 14 percent of respondents said they were against a cut in FHA premiums. Read More
Flagstar’s 4Q16 Results: Residential Production Drops, MSRs are Marked Up January 24, 2017 Paul Muolo So far, the industry average on MSR markups for 4Q has been roughly 29 percent, according to a recent tally from Compass Point...Read More
4Q16 So Far: Mixed Results for Banks and Mortgages. An MSR Hedging Gaffe for BOK January 24, 2017 Paul Muolo On the servicing front, BOK Financial revealed that 4Q16 income was reduced because it left servicing-related hedges on the books for too long...Read More
Citi Settles CFPB Servicing Allegations for $29 Million January 24, 2017 Thomas Ressler The CFPB accused CitiFinancial Servicing of misleading consumers about the effect of deferring payment due dates…Read More
A Warning from MBA’s Stevens: An Industry Paradigm Shift is Underway. What to do About Refi-Heavy LOs? January 24, 2017 Brandon Ivey The MBA chief stressed that the market is set to shift from mortgage loan officers who can thrive as “gatherers” to a market that requires “hunters.”Read More
Suspending FHA Premium Cut is a Good Thing, Says AEI’s Ed Pinto January 24, 2017 Thomas Ressler At least some factions of the industry are happy about the FHA not cutting premiums, including Ed Pinto of AEI…Read More
Short Takes: Wells Fargo Accused of Improperly Charging for Rate-Lock Extensions / A Big Deal or Not? / The Golden West-Sandler-Wells Fargo Connection / UWM Chief to Educate on ARMs January 24, 2017 Paul Muolo and Thomas Ressler Some of the allegations surfaced in a Nov. 2016 letter sent to Congress by a former Wells LO named Frank Chavez...Read More
A Spike in FHA/VA Default Rates for 4Q16; A Three-Year High is Reached January 23, 2017 John Bancroft Meanwhile, the supply of Ginnie single-family MBS outstanding continued to set new records…Read More
Past FHA Commissioner Montgomery Suggests Common Standards for FHA,VA, GSEs… January 23, 2017 George Brooks Brian Montgomery’s proposed Office of National Housing Policy would be headed by a “housing policy czar…”Read More