Freddie Disclosure: Reducing Its Servicing Exposure to Ocwen April 7, 2015 Paul Muolo The disclosure is buried in the details of Freddie’s recent 10-Q filing with Securities and Exchange Commission.Read More
Short Takes: How Many Lenders are Offering LPMI? / Sell that House Now! / NPL Market Waiting for a Shot of Fannie / CFPB Publishes Secret Sauce on TRID / MB Gets new Mortgage Chief April 7, 2015 Paul Muolo and Thomas Ressler Although Fannie Mae is poised to begin auctioning off some of its nonperforming mortgages, the market continues to be dominated by smaller deals.Read More
FHLB-NY Offers Pilot Program to Facilitate Jumbo Whole Loan Sales April 7, 2015 Carisa Chappell According to the FHLB-NY, a limited number of investors – and members – have been approved for the pilot.Read More
Principal Reduction Loan Modifications Less Frequent April 7, 2015 Brandon Ivey The decline in the use of principal reduction mods is concentrated on bank portfolio loans as opposed to mortgages in non-agency MBS.Read More
Jumbo MBS Issuance Hit Post-Crisis High in First Quarter April 6, 2015 Brandon Ivey Six firms issued jumbo MBS in 1Q 2015, down from eight participants the previous quarter.Read More
Appointment of Ed Golding to FHA Chief Raises Eyebrows on Capitol Hill April 6, 2015 George Brooks Moreover, it is unclear how much enforcement power Edward Golding can wield. Read More
Small to Medium-Sized Lenders Had Stellar 1Q. Can it Last? April 6, 2015 Paul Muolo The wholesale division of Premier Nationwide Lending had its best month of October 2013...Read More
Lenders Losing Their Appetite for the Ginnie Mae ‘Eagle’? April 6, 2015 Paul Muolo However, the late January 50 basis point reduction in FHA premiums should help.Read More
Nationstar Prevails in Court Case Over Disputed NPL Sales April 6, 2015 Brandon Ivey Truman Capital alleged that Nationstar backed out of the transaction after realizing that the sale price for the NPLs was lower than fair market value.Read More
Short Takes: Navy Fed Sets New Company Record for Originations / Keep, Don’t Sell / PennyMac Amends Servicing Facility / Fed Keeps Buying MBS, but Less Than Before / DBRS Adds Portfolio Advisors April 6, 2015 Paul Muolo The no-downpayment product from Navy Federal is called “HomeBuyer’s Choice,” and year-to-date the lender has funded $179 million in such loans…Read More
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