IMA Rolls Out Fannie Mae MSR Deal, More Auctions in the Works January 6, 2016 Paul Muolo The receivables are dominated by Texas collateral at almost 62 percent. Read More
JPM Fined $48 Million for Violating OCC Servicing Consent Order, EverBank $1 Million January 6, 2016 Brandon Ivey The OCC said the mortgage-related fine against Chase was due to the servicer’s actions from December 2011 through November 2013...Read More
Short Takes: Freddie Mac Gives Price Breaks Through LOMC / What Happened to G-Fee Parity? / New CEO for Lenders One? / loanDepot Cranks Out the Second Liens / New Hires for National General January 6, 2016 Paul Muolo Introduced in Sept. 2015, fundings of loanDepot home equity loan products have nearly doubled every month since launch...Read More
Interest-Only Loan Volume Fails to Keep Pace; PHH Still No. 1 January 5, 2016 Brandon Ivey PHH Mortgage remained the predominant IO lender with $3.43 billion during 3Q15, but the firm’s volume fell 16.9 percent on a sequential basis. Read More
Ginnie Mae Pools Likely to See Rising Share of VA Collateral This Year January 5, 2016 George Brooks Overall, Ginnie securitization of FHA and VA purchase loans increased by 37.7 percent and 37.9 percent, respectively, during the third quarter, according to Inside Mortgage Finance’s database.Read More
Two Harbors Set to Continue Prolific Jumbo MBS Issuance with First Deal of 2016 January 5, 2016 Brandon Ivey The Two Harbor deal ends a span of 31 days without a presale report for a new non-agency security.Read More
Expect a Cut in FHA Premiums by Mid-Year 2016? January 5, 2016 Paul Muolo Industry consultant (and frequent FHA critic) Ed Pinto, who studies housing issues for the AEI, predicted a premium cut in his year-end roundup...Read More
‘Flipper’ Lender Jordan Capital Hopes to Double Volume in 2016 January 5, 2016 Paul Muolo Jordan lends in roughly 45 states and its loans have an average life of about eight months. The nonbank extends credit at rates of 10 to 12 percent.Read More
Short Takes: Yet More TRID Problems? / CFPB Looking at ‘Pricing Concessions’ / NAMB Backs Savitt for House Seat / Ocwen Gets a B+ From KBRA / Lender Hires Former Capital One Executive January 5, 2016 Brandon Ivey and Paul Muolo Industry consultant Joe Garrett is advising his clients to keep a “concession log…” Read More
Jumbo MBS Issuance Declines in Q4; Outlook Not Go Great January 4, 2016 Brandon Ivey Nine firms issued jumbo MBS in 2015 and JPMorgan Chase was the top issuer for the second year in a row. Read More