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SEC Considers Civil Action Against PIMCO Regarding Investments in Non-Agency MBS

August 4, 2015
Brandon Ivey
PIMCO stressed that the “Wells Notice” is neither a formal allegation of wrongdoing nor a finding that any law was violated.
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Blackstone Stays Mum on PMAC Deal, Despite Social Media Postings

August 4, 2015
Paul Muolo
Blackstone has bought at least one nonbank the past year and is eyeing several other acquisitions but has offered no commentary on its plans...
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Short Takes: A Slight Decline in G-Fees at Freddie / Underwriting Looser? / Lenders One Lines Up New Investors / A New CEO Yet for LO? / UGI Increases NIW

August 4, 2015
Carisa Chappell, Brandon Ivey, and Paul Muolo
Lenders One, by the way, is looking for a new CEO. Its former chief executive, Jeff McGuiness, left back in June...
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Banks Report Strongest Mortgage Profits in Two Years

August 3, 2015
John Bancroft
At the midway point of 2015, the group’s $8.061 billion in year-to-date mortgage-banking income was up 15.1 percent from the first six months of 2014.
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Nonprime Lender Citadel Increases Maximum Loan Amount to $3 Million

August 3, 2015
Paul Muolo
Company CEO Dan Perl said the privately held nonbank has been receiving several applications for loan amounts ranging from $2.1 million to $2.7 million...
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Two Harbors Prepares Jumbo MBS Backed by QMs with Little Seasoning

August 3, 2015
Brandon Ivey
Clayton Holdings noted that 75.9 percent of the mortgages were originated via the retail channel with the balance coming through loan brokers.
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California Top Market for Mortgage Insurance

August 3, 2015
John Bancroft
But only 33.0 percent of California mortgages had primary MI coverage, compared to 46.6 percent for the nation as a whole.
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Freddie Mac Unveils First Securitization of Small-Balance Multifamily Loans

August 3, 2015
Paul Muolo
Greystone Servicing Corp. originated all of the 44 notes in the deal.
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Short Takes: PMAC and Blackstone, What Gives? / Meet the New Head of the NYDFS? / BofA Makes Progress on Mortgage Relief / Freddie Dumps NPLs / Home Point Hires Ex-Weichert Official

August 3, 2015
Carisa Chappell, Brandon Ivey, and Paul Muolo
According to one published report, Gov. Andrew Cuomo is considering John Coffey as the next superintendent for New York Department of Financial Services.
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House Committee Votes to Cap GSE Salaries

July 31, 2015
A bill seeking to block the proposed pay raises for Fannie Mae and Freddie Mac CEOs was passed with bipartisan support this week by the House Financial Services Committee. As controversial talks of pay raises for Fannie and Freddie CEOs intensified, Rep. Ed Royce, R-CA, continued to push his legislation to cap the salaries with H.R. 2243, the Equity in Government Compensation Act of 2015. Royce was adamant and said Congress needs to put a stop to the “planned multi-million dollar paydays” at the GSEs. The CEOs could have gotten up to $4 million each in annual total compensation. Earlier this month, the Federal Housing Finance Agency authorized the removal of a pay cap.
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