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Short Takes: The $55 Billion Subservicing Contract Mystery / Who Lost It, Anyone? / A Shakeout for P2P? / MSR Auctions Increase / Another Step Down for Ocwen’s Stock

May 4, 2016
Paul Muolo
Sometimes when a subservicer – especially a publicly traded one – snags a new client, the company publicizes the event...
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‘Marketplace’ Lender SoFi Gets Fannie Approvals; Continues to Sell Jumbos into the Secondary

May 4, 2016
Paul Muolo
SoFi, also known as a “peer-to-peer” lender, said it admires Fannie Mae’s “commitment to technological innovation in mortgages…”
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At Least Someone in the Mortgage Industry is Thinking About Climate Change: Freddie Mac

May 4, 2016
George Brooks
A past study commissioned by FEMA estimated that the areas designated as special flood areas will increase by 45 percent by the end of this century. In coastal areas, such designations would increase by 55 percent.
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Good News for the GSEs: FHFA Raises the Multifamily Financing Caps

May 4, 2016
Carisa Chappell
According to figures compiled by Inside Mortgage Finance, the GSEs have a multifamily market share of 78.3 percent.
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Too Much Regulation? A 70 Percent Spike in Mortgage Exams at the CFPB Last Year; Nonbank Servicers Under Intense Scrutiny Compared to Peers

May 4, 2016
Thomas Ressler
The exam outlook is even worse for nonbank mortgage servicers..
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Hammered by MSR Writedowns, Nationstar Posts $133 Million Loss for 1Q16

May 4, 2016
Paul Muolo
When are falling rates a bad thing? Answer: When you own a ton of mortgage servicing rights.
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Short Takes: Freddie CEO: It’s a Fact of Life / Industry Says Stop the Madness, Let the GSEs Build Capital / The Betting is that Watt Will Pull the Recap Lever / Mel’s Nightmare / Look for Some Type of PHH Sale

May 3, 2016
Paul Muolo and Carisa Chappell
Some mortgage lobbyists predict Watt – a lawyer by training and a former Congressman – will pull the recap lever by the end of the Obama administration...
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Is the Mortgage M&A Market Dead in the Water? No More ‘Franchise’ Deals?

May 3, 2016
Paul Muolo
Larry Charbonneau, who runs a boutique advisory firm, said, “The number of willing sellers doesn’t meet the number of willing buyers...”
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TRID Architect: The CFPB Was Caught Flat-Footed by the Rule

May 3, 2016
Thomas Ressler
Attorney Richard Horn, who helped write the TRID rule, blamed the CFPB, in part...
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Walter’s Stock Crushed After $173 Million Loss For 1Q; Inks Deal to Sell MSRs

May 3, 2016
Brandon Ivey
Walter/Ditech originated $5.0 billion of new mortgages in 1Q16, down 10.7 percent from the previous quarter.
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