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Short Takes: Maybe the QM Won’t Be So Bad After All / Then Again… / Big Problems Coming From Higher Flood Insurance Premiums / Opus Sold to an Indian Firm / FHFA Gets a $1.2 Billion 'Claim'

December 3, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
What's the outlook for making mortgages collateralized by homes located in federal flood plains? Answer: Not so good.
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FHA Rejection Rate on Condo Projects at 60 Percent

December 3, 2013
George Brooks
The top reasons for FHA condo denials include financial instability, pending litigation, insufficient insurance coverage and outdated or missing documentation.
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PennyMac the Winning Bidder on CashCall’s $10 Billion of MSRs?

December 3, 2013
Paul Muolo
Several large bulk MSR deals are pending, but can they get done before year-end?
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Senators Blast Obama Administration’s ‘Wait and See’ Eminent Domain Approach

December 3, 2013
Charles Wisniowski
“Eminent domain may be a local matter, but in the context of seizing mortgages, its use would have national consequences,” the four senators write in their letter to Treasury Secretary Jack Lew.
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Walter Plans New $1.6 Billion Credit Line, Will Buy More MSRs

December 3, 2013
Paul Muolo
The fast growing Walter Management also will sell $500 million worth of senior notes through a private placement.
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Ginnie Mae MSRs Begin to Slide

December 3, 2013
George Brooks
Just how big is Wells Fargo's Ginnie Mae market share? At Sept. 30, the bank controlled 31.53 percent of the market. Its closest competitor was JPMorgan Chase with a mere 11.75 percent.
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No Effort in Congress to Extend FHA High-Cost Loan Limit

December 2, 2013
George Brooks
Over the past two years, the FHA endorsed 9,183 loans between $600,000 and $729,750
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G-Fee ‘Parity’ Between Large and Small Mortgage Firms Elusive

December 2, 2013
Paul Muolo
How much individual sellers pay for their g-fees is one of the best-kept secrets in the industry.
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Is There a Sign of Life in the Alt A Mortgage Market?

December 2, 2013
John Bancroft
The Alt A origination estimate is based on the volume of first-lien conventional mortgages with interest rates ranging from 150 basis points over the prime mortgage rate to 300 bps over.
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BofA Will Pay Freddie $404 Million to Settle Legacy Repurchase Claims

December 2, 2013
Paul Muolo
The GSEs are beginning to take in a significant amount of money from R&W settlements, but both stand to reap an even larger windfall from a pending civil lawsuit filed by the FHFA against 17 issuers of private label MBS.
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