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Flagstar Makes a Bold Move: Agrees to Buy Stearns’ Correspondent Platform

February 7, 2017
Paul Muolo
With its consent order in the rear-view, look for Flagstar to do more deals, industry advisors told IMFnews...
Read More

Short Takes: Blackstone’s Tentacles / MBA Sides with PHH in CFPB Case / Banks Might Ease GSE Standards / The ‘Silver Bullet’ to Replace LOs with Machines / Stonegate Hires SunTrust Executive

February 7, 2017
Paul Muolo and Thomas Ressler
Correspondent lending accounts for 21.4 percent of Stearns’ total origination volume, based on fourth quarter figures from Inside Mortgage Finance…
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Jumbo Originations Up at Some Shops, Down at Others

February 6, 2017
Brandon Ivey
Among four depositories that publicly disclose their jumbo originations, First Republic Bank and Flagstar Bancorp posted increases…
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JPM Working on a Non-Agency MBS Deal With Loans Aggregated by Two Harbors

February 6, 2017
Brandon Ivey
In July, publicly traded REIT Two Harbors Investment Corp. announced it was discontinuing its mortgage conduit and securitization operations.
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Citigroup’s Exit from Servicing, the First Step in a Total Withdrawal from Mortgages?

February 6, 2017
Paul Muolo
Dave Akre, who runs Whole Loan Capital, noted, “How can they stay in the mortgage origination business when servicing is a huge part of the borrower experience?”
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PHH Promises More Disclosures on its Future When it Releases 4Q16 Results

February 6, 2017
Paul Muolo
PHH Corp., for years, has been trying to unload its entire mortgage franchise, a process complicated by both regulatory sanctions and large accounting losses tied to declining interest rates.
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Carson Wants Housing Finance ‘Specialist’ as FHA Commissioner

February 6, 2017
George Brooks
Nondepositories now dominate FHA production after several large banks exited the government program due to growing concern over potential liability arising from federal lawsuits…
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Short Takes: So, You Want to Hang Onto That Market Share? / Get Ready for Jeb’s FCA, Version 2.0 / Buy a Stake in Us First / Keeping an Eye on the 10-Year / Greystone Hires an FHA Managing Director

February 6, 2017
Brandon Ivey and Paul Muolo
What? Democrats won't help in changing the Dodd-Frank Act?
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Flagstar Makes a Bold Move: Agrees to Buy Stearns’ Correspondent Platform

February 6, 2017
Paul Muolo
The business that Flagstar will acquire has 250 correspondent relationships that account for roughly $7 billion in production tied to agency and GSE loans.
Read More

Agency MBS Issuance Tumbles by Almost 16 Percent in January

February 3, 2017
John Bancroft
Fannie Mae saw the biggest drop in refi volume, a 30.2 percent decline from December…
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