As GOP Complains, CFPB’s Cordray Defends Agency’s Data Collection Efforts April 24, 2013 Thomas Ressler Republicans in Congress worry about the CFPB collecting too much data on consumers but are their concerns overblown? Read More
S&P Strikes Back on MBS Case, Calls Government’s Fraud Lawsuit ‘Overreach’ April 24, 2013 Charles Wisniowski Standard and Poor's is fighting back against the federal government in its $5 billion MBS fraud case.Read More
Redwood and Other Non-Agency Players Want Congressional Help to Boost Production April 24, 2013 Brandon Ivey The non-agency/jumbo market cannot truly revive until Congress passes laws aiding transparency and decreasing risk to potential participants.Read More
Michael Lau’s Pingora Buys Delaware Mortgage Banking Firm April 24, 2013 Paul Muolo Michael Lau, the man who helped Phoenix Capital corral Bank of America as a client, has purchased his own mortgage banking firm. Read More
Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders April 24, 2013 Paul Muolo and Thomas Ressler Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions. Read More
Flagstar Sees Production Decline, Stock Hammered in Trading April 24, 2013 Paul Muolo Although Flagstar earned money on its mortgage business in the first quarter, its gain-on-sale margin took a major hit. Read More
Short Takes: CFPB Showing Some Love for Banks / Fannie About to Award a Big Tech Contract? / FHFA Doesn’t Want Higher Minimum Net Worth / Home Buyer Traffic Spikes / 100 Percent LTV Loans Not on NCUA’s Radar? April 23, 2013 Paul Muolo Residential lenders can rest easy: the GSEs aren't about to hike their net worth minimums. Also: the CFPB shows some love to banks. Read More
ASF Suggests Ways for Fannie and Freddie to Reduce Their Market Share April 23, 2013 Brandon Ivey ASF suggests that one way to reduce the market share of the GSEs is to hike guaranty fees once again.Read More
PennyMac Sees Correspondent Purchases Decline, Jumbo MBS Coming April 23, 2013 Brandon Ivey PennyMac once again posted strong earnings, but the REIT's correspondent purchases are beginning to slow somewhat. Read More
Prices Climbing for Jumbo Mortgages April 23, 2013 Paul Muolo The jumbo market is heating up, which means the price paid for whole loans is on the rise.Read More
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