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Originations Booming at Nationstar, MSRs Will Top $435 Billion

August 6, 2013
Brandon Ivey
Portfolio recapture, wholesale, and builder channels accounted for almost 79 percent of its fundings in 2Q.
Read More

Obama Hints at Corker-Warner Support, Pushes for HARP 3.0

August 6, 2013
Paul Muolo
The White House believes that the current housing finance system, where the government guarantees more than 80 percent of all mortgages through Fannie Mae, Freddie Mac and FHA, is unsustainable.
Read More

Short Takes: Is CashCall Off the Auction Block? / HSBC Could Take a Huge Hit on MBS Settlement / FHFA CSP Job Pays $450,000 / LenderLive Gets Ginnie Approvals / Eminent Domain Advances

August 6, 2013
George Brooks and Paul Muolo
Is refi specialist CashCall still on the auction block?
Read More

Commercial MBS Issuance Slowed in 2Q, But Ahead of Last Year’s Pace

August 5, 2013
John Bancroft
Most of the apartment loans being securitized go through Fannie Mae and Freddie Mac programs.
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HUD to Implement New HECM Guidelines by October

August 5, 2013
George Brooks
The guidelines follow the Senate’s passage last week of the Reverse Mortgage Stabilization Act of 2013.
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IRS Says Excess Servicing Spreads Are ‘Real Estate’ Assets Under REIT Law

August 5, 2013
George Brooks
According to an IRS private-letter ruling, certain excess servicing rights would constitute a real-estate asset, and income from the spread would be treated as interest on obligations secured by mortgages on real property.
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Prestwick Offers Close to $1 Billion of MSRs

August 5, 2013
Paul Muolo
The market for residential servicing rights continues to gain momentum with two new offerings from The Prestwick Mortgage Group.
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Mortgage Brokers Continue to Hire, But Barely

August 5, 2013
Paul Muolo
Mortgage brokerage firms added new workers in June but at a very slow pace, a sign that the origination market is slowing.
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Short Takes: Ocwen Increases its Deal Pipeline to $400 Billion / Another Large Wholesaler to Exit? / But Integrity First Wants to Grow Wholesale / Ally Calls it Quits on Mortgage Banking / NAR Hates the PATH

August 5, 2013
Paul Muolo
Ocwen is looking at $400 billion of MSR deals, at least. Meanwhile, a lager wholesale may exit, and no, it's not EverBank.
Read More

NY District Court Holds Disparate Impact Claims Against Morgan Stanley Are Timely, But Dismisses ECOA Claims

August 2, 2013
A federal district court in New York last week ruled that a landmark discrimination lawsuit, the first to connect racial discrimination to the securitization of mortgage-backed securities, can move forward against Morgan Stanley. A July 25 ruling by the U.S. District Court for the Southern District of New York in Adkins v. Morgan Stanley denied in part the investment bank’s motion to dismiss the case, which alleges violations of the Fair Housing Act and the Equal Credit Opportunity Act. The putative class-action suit was filed...
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