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Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot

September 24, 2018
Paul Muolo
ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.”
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MBA Backs User Fee to Fund Tech Upgrades for USDA Program

September 24, 2018
George Brooks
The FHA has proposed a similar user fee but has been denied repeatedly by Congress…
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Nonprime Lender Deephaven Taps LoanScorecard’s AU Software

September 24, 2018
Paul Muolo
Recently, Inside Nonconforming Markets published its second quarter ranking of expanded-credit lenders, but Deephaven did not appear.
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State AGs Will Fill the Void if CFPB Punts on Disparate-Impact Use

September 24, 2018
Yemeng Yang
CFPB chief Mick Mulvaney said the bureau is “no longer allowed” to make any rules about disparate impact under ECOA…
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Short Takes: Freddie Doesn’t Mince Words / Thinking of Going Public? / Why Amazon and Google Won’t Buy an Existing Franchise / Moogle or Moogage? / Texas Capital’s Deposit Base / Mortgage Job Cuts at USAA

September 24, 2018
Paul Muolo
Meanwhile, Hindman doesn’t see Amazon or Google buying an existing mortgage franchise...
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Deephaven Set to Issue its Largest Nonprime MBS to Date

September 21, 2018
Brandon Ivey
Mortgages from 74 lenders will be included in the deal…
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Wells Fargo Announces Job Cuts. The Mortgage Damage Could Total 3,097 Positions

September 21, 2018
Paul Muolo
The megabank is not commenting on how the cuts might affect specific business units...
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Plenty of Investors Look Willing to Pick Up the Slack as the Fed Continues to Slowly Unwind Its Massive Holdings

September 21, 2018
Most of the major MBS investor groups added to their holdings during the second quarter of 2018, according to a new Inside MBS & ABS analysis. [Includes two data charts.]
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Wells Getting Closer to Issuing Jumbo MBS, Plans to Test the Market within the Next Year

September 21, 2018
Wells Fargo plans to test the market for jumbo MBS issuance within the next year, according to John Shrewsberry, a senior executive vice president and chief financial officer at the bank.
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MBS Trading Sets a New Low for the Year. Rising Rates and Thin Profit Margins Cause Concerns

September 21, 2018
The average daily trading volume in agency MBS fell to just $188.4 billion in August, the lowest reading of the year and a possible sign of trouble ahead, according to figures compiled by the Securities Industry and Financial Markets Association.
Read More
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