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. Read More
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...Read More
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 Paul Muolo, Brandon Ivey, and Carisa Chappell Lenders One, by the way, is looking for a new CEO. Its former chief executive, Jeff McGuiness, left back in June...Read More
GSE ‘Jumbo’ Share Rising With Heavy Refi Volume August 4, 2015 John Bancroft Conforming-jumbos accounted for almost 10 percent of GSE business on single-unit properties in the first half of this year...Read More
Freddie Mac Earns Almost $4.2 Billion in 2Q, Will Ship $3.9 Billion to Uncle Sam August 4, 2015 Paul Muolo and Carisa Chappell Freddie CEO Don Layton noted that, “G-fees now account for more than 40 percent of income and is becoming a growing revenue source.”Read More
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.Read More
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.Read More
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.Read More
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 Paul Muolo, Brandon Ivey, and Carisa Chappell According to one published report, Gov. Andrew Cuomo is considering John Coffey as the next superintendent for New York Department of Financial Services. Read More
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.Read More