Rep. Sherman of California noted: “Studies have shown that in some geographic areas, it is possible to determine the identity of nearly 100 percent of the borrowers using the data that lenders are required to collect and report by the Home Mortgage Disclosure Act.”
Deephaven is headed by former Goldman Sachs managing director Matt Nichols, who earlier this year predicted strong growth for the correspondent buyer of non-QM loans…
“Our ability to maintain or grow our servicing business may depend, in part, on our ability to acquire servicing rights from, and/or enter into subservicing contracts with, third parties,” the company said in an SEC filing.
Fannie Mae and Freddie Mac saw substantial declines in new single-family business during the first quarter of 2017, but the purchase-mortgage side showed some life in March, according to a new analysis and ranking by Inside Mortgage Finance. The two government-sponsored enterprises guaranteed $218.22 billion of single-family mortgage-backed securities during the first three months of the year. That was down 27.1 percent from the fourth quarter total of $299.25 billion – the biggest quarterly flow in GSE business since the second quarter of 2013. The refinance market was...[Includes three data tables]
Residential loan production picked up steam in March after a tepid January and February, while originators – both banks and nonbanks alike – kept a close eye on expenses in an effort to maintain positive cash flow. Bill Dallas, CEO and president of Skyline Home Loans, Calabasas, CA, said his company funded $650 million in the first quarter, a modest 5.8 percent decline from the same period a year ago. Roughly 75 percent of Skyline’s production was purchase loans, the exact opposite of what the company did in the year-ago quarter. “Over the past five months, since the election, the landscape has been...
The Consumer Financial Protection Bureau late last week filed its much-anticipated response to the decision by the U.S. Court of Appeals for the District of Columbia Circuit to grant the agency’s request for an en banc rehearing in its legal wrangling with PHH Mortgage over allegations of violating the Real Estate Settlement Procedures Act. The CFPB made three main arguments. First, the bureau’s structure is constitutional. “Neither the bureau’s single-director structure, nor the for-cause removal provision, unduly interferes with the president’s ability to take care that the laws be faithfully executed” under the U.S. Constitution, it said. If the court were to decide that the agency’s structure is unconstitutional, the bureau added...
RSS