Mark Zandi, chief economist with Moody’s, said the biggest impediment to opening up the FHA credit box is the issue of loan certification.

The new non-agency security has credit enhancement of 49.9 percent on the top-rated tranche.

The evidence is somewhat suspect because as the analysts noted, the 43 percent cap on DTI ratios for QMs doesn’t currently apply to the FHA, VA or GSE mortgages.

The old GMAC servicing platform in Iowa appears to be on a death-watch as Ocwen sells GSE servicing rights and opts for cheaper labor overseas...

The supply of home mortgage debt outstanding started growing again during the second quarter of 2015, thanks to relatively strong growth in retained portfolios, according to an Inside Mortgage Finance analysis of new data from the Federal Reserve and other sources. The Fed reported late last week that $9.901 trillion of single-family mortgage debt was outstanding as of the end of June. That was up 0.4 percent from March and represented the biggest supply of mortgage servicing since the third quarter of 2013. The servicing market had been shrinking...[Includes two data tables]

The nation’s subservicing specialists increased their contracts by a modest 4.4 percent on a sequential basis in the second quarter of 2015, a sign that many originators would rather outsource the nitty-gritty chore of loan processing to others instead of doing it in house. Compared to the same period a year earlier, subservicing grew a more impressive 20.5 percent to $1.410 trillion, according to exclusive survey figures compiled by Inside Mortgage Finance. The increasing complexity and compliance cost of servicing make...[Includes one data table]

Apprehension and uncertainty were palpable among industry representatives meeting in Washington, DC, this week over how the Consumer Financial Protection Bureau views marketing services agreements and how it plans to deal with them in the future. David Stevens, president and CEO of the Mortgage Bankers Association, urged the bureau to provide formal, specific guidance during the trade group’s regulatory conference this week. “We sent...

Bond investing giant PIMCO has quietly purchased First Guaranty Mortgage Corp., Frederick, MD, for roughly $50 million, gaining a toehold into an industry it has been carefully eyeing for well over two years now. The acquisition – confirmed to Inside Mortgage Finance by several sources – comes roughly three months after the company pulled out of talks with RoundPoint Mortgage, the nation’s 24th largest servicer. PIMCO – formally known as Pacific Investment Management Co. – has tried...

Ocwen has so many workers in India that it hedges its risk against the currency there, the Rupee.

For many investors it has boiled down to this: They’ve had enough and they want out.