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Nationstar Reports 2Q18 Results: Income and Servicing Down, Originations Up

July 17, 2018
Paul Muolo
Nationstar said it continues to “evaluate significant servicing growth opportunities” and expects to end 2018 with at least $530 billion of MSRs...
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Despite a Slim Profit Margin, Redfin Hopes to Raise $239 Million by Selling Equity and Debt

July 17, 2018
Paul Muolo
The company released an estimate of earnings for the second quarter of 2018, forecasting a profit of $2.6 million to $3.2 million on revenues of about $142.1 million.
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Court Rules FHFA’s Structure Violates the Constitution. But Upholds Treasury Sweep

July 17, 2018
Carisa Chappell
The court said Congress encased the regulator in layers of insulation, which limits the president’s power to remove and replace the FHFA director...
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Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction

July 16, 2018
Paul Muolo, John Bancroft, and Brandon Ivey
Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...
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Trades Urge Congress to Extend NFIP. NAR Fears Lost Home Sales…

July 16, 2018
George Brooks
NAR fears a major loss in home sales...
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Phoenix Announces GSE Flow MSR Auction

July 16, 2018
Paul Muolo
The average loan size could be as high as $227,000…
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High DTIs and Other Concerns at FHA Give Way to Weekly ‘Triage’ Meetings

July 16, 2018
Paul Muolo
Among FHA loans endorsed in April and May, only 41.9 percent were at or below the benchmark DTI test for qualified mortgages, which is 43.0 percent.
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A 23 Percent Increase in Home Lending for Bank of America

July 16, 2018
Paul Muolo
Bank of America no longer breaks out mortgage income separately.
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Non-Agency MBS (Backed by New Production) Hits Another Quarterly Record

July 16, 2018
Brandon Ivey
Prime jumbo mortgages continue to account for the majority of non-agency MBS issuance…
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RHS Proposes Easing Rules to Boost ‘Single Close Loan’ Program

July 13, 2018
The U.S. Department of Agriculture’s Rural Housing Service is seeking comment on a proposed rule that would enable more lenders to make combination construction-to-permanent single-family loans to borrowers. The new combination construction-to-permanent loan, or “single close loan,” allows approved lenders to close a new construction loan and receive a loan-note guarantee before construction begins. The loan expands low- and moderate-income borrowers’ access to affordable rural housing financing in areas with populations up to 35,000. The loan may be used to construct and purchase single-family homes, including manufactured homes and eligible condominiums. The amount covers purchasing a lot, reasonable construction administrative costs, contingency reserves, inspection fees, builder’s risk insurance, landscaping costs, and other authorized items, the ...
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