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Short Takes: Some Details on LPMI Volume and Discounting / Happy Birthday to the CFPB and Dodd-Frank? / Do Mortgage Firms Need a Chief Risk Officer? / Annaly Gets a New CEO

July 21, 2015
Paul Muolo and Thomas Ressler
Happy birthday to the CFPB? Well, it all depends on which side of the mortgage table you sit on...
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Phoenix Selling $1 Billion Ginnie Mae MSR Portfolio

July 21, 2015
Paul Muolo
The loans are being serviced in-house by the seller on a Black Knight servicing system.
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Fitch Changes ‘Outlook’ Rating on RoundPoint to Negative, Citing ‘Corporate Restructuring’

July 21, 2015
Paul Muolo
To date, RoundPoint has declined to discuss the sale process or much of anything else with the media.
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Celebrities, in Theory, Can be Good Mortgagors

July 21, 2015
Sherry Muolo
Of course, just because some actors earn millions each year doesn’t mean they’re good at holding onto what they bring home...
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GSE Servicing Continues to ‘Deconsolidate’

July 21, 2015
John Bancroft
Inside the GSEs found that Freddie’s business was more concentrated than Fannie’s...
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Securitization of Nonperforming Mortgages Begins to Take Root

July 21, 2015
Brandon Ivey
Through June 30, issuance of non-agency MBS backed by NPLs and RPLs equaled the volume that analysts at BAML had predicted for the entire year.
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Short Takes: More Wholesalers Entering the Market? / Expanding from VA to FL / Cerberus Unit Readies ‘Seasoned’ MBS / When on PHH? / W.J. Bradley Exec Jumps Ship for Home Point

July 20, 2015
Paul Muolo and Brandon Ivey
A unit of Cerberus Capital Management is preparing to issue a non-agency MBS backed by loans that have seasoned for an average of 8.9 years...
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Is the 25-Day Loan Closing a Myth?

July 20, 2015
Paul Muolo
One senior mortgage manager, who has been in the business for 25 years., said despite what lenders may say about closing times, actual experience is probably worse. “No one is closing under 30 days,” he said. “Most will be over 50 days.”
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Nonprime Lender Citadel on a Tear, Hires Correspondent Chief

July 20, 2015
Paul Muolo
To date, most of Citadel's mortgages have been sourced through loan brokers, but recently the company hired a correspondent manager, Alan Peviani...
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Ginnie Mae Securitization Volume Soars

July 20, 2015
George Brooks
Wells Fargo was the top issuer in 2Q with $16.0 billion, followed by PennyMac and Freedom Mortgage.
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