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FHA/VA Default Rates Down in Early 2017, Some Sharply

May 2, 2017
John Bancroft
The number of FHA loans 30-60 days past due declined by 28.4 percent, lowering the delinquency rate by 1.51 percentage points…
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Impact Unclear in Miami-Predatory Lending Supreme Court Case

May 2, 2017
Brandon Ivey
Some analysts believe the Supreme Court’s ruling will result in the filing of new claims, but the Buckley Sandler law firm sees it differently...
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Nonprime Lender Deephaven Passes the $1.0 Billion Mark in Loan Acquisitions

May 2, 2017
Brandon Ivey
Deephaven CEO Matt Nichols is a former managing director at Goldman Sachs & Co.
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Ocwen Agrees to Sell $117 Billion of MSRs to New Rez; REIT Would Obtain 4.9% of the Troubled Servicer; Share Price Spikes

May 1, 2017
Paul Muolo
On the news, Ocwen’s share price was up a stunning 37 percent on the day to $3.15.
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Short Takes: A REIT in Love with MSRs / No. 2? / The Fortress Connection for New Rez and Nationstar / Phoenix Selling Whole Loans / Kaplan Departs Ranieri Companies

May 1, 2017
Paul Muolo
At this pace, you can expect that by yearend New Rez will be the nation’s second largest servicer, at least in terms of ownership rights…
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At Secondary Conference, MBA Chief Calls GSE Recap & Release ‘Crazy’

May 1, 2017
Paul Muolo
Stevens credited the Federal Housing Finance Agency with making “significant progress” in fixing the flaws of Fannie and Freddie...
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CFPB Warns of ATR Issue with Non-QMs

May 1, 2017
Brandon Ivey
The regulator cautioned that a large downpayment alone isn’t sufficient to prove a borrower’s ability to repay a non-QM that is based on the consumer’s assets.
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Jumbo Originations Down Sharply in 1Q17, but Lenders Remain Optimistic

May 1, 2017
Brandon Ivey
While jumbo production fell on a sequential basis, many lenders saw a gain when compared to the same quarter a year earlier…
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Proposed Changes from S&P to Non-Agency MBS Rating Criteria Would Favor Prime Mortgages

May 1, 2017
Brandon Ivey
S&P said the revisions are intended to better reflect the evolution of the U.S. residential mortgage market over the past several years…
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Ocwen in Negotiations to Sell Large Block of Servicing to New Residential

May 1, 2017
Paul Muolo
The transaction was mentioned during New Residential’s earnings call Monday morning and confirmed by a source...
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