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HAWK Program to Increase FHA Business May Have Broken Wings

May 15, 2014
George Brooks
Recently, House appropriators approved the FY 2015 budget for HUD but without an allocation for the HAWK pilot program. Still, FHA is hopeful...
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Five Oaks Launches Correspondent Effort to Buy Non-QM Investor Loans

May 15, 2014
Paul Muolo
Five Oaks will allow for cash-out refis for loans with balances of up to $1 million. The maximum allowable loan-to-value ratio is 65 percent, but the company may eventually go to 70 percent.
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Profit Picture for MI Industry Brightens, but Policies Written Adjust to Declining Originations

May 15, 2014
John Bancroft
All seven active mortgage insurance companies reported a total of $31.34 billion of new primary insurance written during the first quarter, according to calculations from Inside Mortgage Finance.
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National Production Manager Lisa Rodgers Departs Nationstar Mortgage

May 14, 2014
Paul Muolo
“I think Nationstar is going through the pain and agony of the production decline,” said one advisor familiar with the company.
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Short Takes: Watt Admits FHFA Can End the Conservatorships / GSE Stock Strategy: Buy Low, Sell High / Subprime Standards Tighten / Top Servicer Complaint: No SPOC / FHFA Unveils Foreclosure Prevention Pilot in Motown

May 14, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
In case you didn’t notice, the price of Fannie and Freddie common rose about 5 percent Tuesday, after Watt spoke. In trading Wednesday, they were up again...
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Green Tree Fails Servicing Settlement Metrics Test; Will it Affect M&A?

May 14, 2014
Brandon Ivey
In a report released Wednesday morning, the servicing settlement monitor said Green Tree failed eight metrics tested in the second half of 2013.
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Meanwhile, Walter Relaunches Ditech; Former Freddie Executive to Head Effort

May 14, 2014
Paul Muolo
Richard Smith, chief marketing officer for Ditech, said the mortgages that the company originates will close in Ditech’s name, not in the name of Green Tree.
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CFPB Entering More ‘Politically Precarious’ Waters?

May 14, 2014
Thomas Ressler
If the CFPB is able to turn an enforcement action into a settlement, it’s far less likely to be challenged in court, the professor said.
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Issuers Warn that SEC Proposal Could Shut Down Non-Agency MBS Sector

May 14, 2014
Brandon Ivey
The disclosure regime envisioned by the SEC prompts even greater privacy concerns than the initial proposal, according to a number of non-agency MBS issuers.
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FHFA’s Watt Rules Out GSE Loan Limit Decrease, Offers Buyback Relief

May 13, 2014
Paul Muolo
“This decision is motivated by concerns about how such a reduction could adversely impact the health of the current housing finance market,” said FHFA Director Mel Watt.
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