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Huge Growth in Securitization of VA ‘Jumbos’

March 30, 2016
George Brooks
Wells Fargo delivered $5.03 billion of VA jumbo loans into Ginnie Mae pools in 2015, making it the leading securitizer in that segment.
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Short Takes: Who Will Show Up First on TRID Relief? Godot or Cordray? / A Potential to Shut Down the Mortgage Market? / Fannie’s Play in Energy Loans / DocMagic’s Launch / New Consumer Lending Chief for Ditech

March 30, 2016
Carisa Chappell and Paul Muolo
This same official also predicted that if TRID errors ever become an issue on Fannie Mae/Freddie Mac loans, the entire mortgage market would come to a halt...
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Non-QM Lending: A Niche Market Looking to Expand?

March 30, 2016
Brandon Ivey
Impac originated $132.4 million in non-QMs in 2015, including $50.8 million in the fourth quarter of the year. Citadel did even more...
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TRID’s Impact on Fannie and Freddie: Little or None

March 29, 2016
Carisa Chappell
Although the GSEs have not started conducting routine quality control file reviews for technical compliance with the TRID rule, they are checking to make sure the new forms are being used.
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More TRID Headache Stories: How a $19 Mistake Cost a Lender $70,000

March 29, 2016
Paul Muolo
“The real punch in the gut is the investor taking 30 days to review” the mortgage, said the CEO. “Then they said it’s not up to their standards.”
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A New Indemnification Period for RHS Lenders: Five Years, Not Two

March 29, 2016
Brandon Ivey
The RHS stated that it may seek indemnification in cases of fraud or misrepresentation regardless of when the loan closed or when the default occurred.
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Plan to Smooth Out TRID Errors Could See the Light of Day This Week

March 29, 2016
Brandon Ivey
The SFIG has circulated a draft proposal regarding a standardized approach...
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Phoenix Capital Offering Flow Deals That Could Net $2.4 Billion

March 29, 2016
Paul Muolo
Much of the collateral is based in the Western U.S.
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Short Takes: Banks vs. Nonbank on TRID / Depositories Avoid ‘Fix n Flip’ Mortgages / Fannie, Freddie and ‘Nimrick’ Revisited / RHS and QMs / A Legal Case to Study: Guarantee Rate’s ‘Corporate Spy’

March 29, 2016
Brandon Ivey and Paul Muolo
Meet secondary market giant "Natty MaRC"?
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It Looks as Though WJB Went Through a ‘Recap’ In December. Then It All Went South

March 29, 2016
Paul Muolo
Among the secondary market investors buying loans from WJB was JPMorgan Chase, sources said…
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