Freddie Posts $2.16 Billion Profit for 4Q15; Hedging Losses Not an Issue – This Time Around, But… February 18, 2016 Paul Muolo The CEO noted that Freddie Mac has made great inroads in doing more business with small to medium-sized lenders, but also said that when it comes to the GSE’s credit box, “it is not being fully used” by the industry.Read More
In Case You Missed It: House Passes Language Removing the Limit on VA Loans in High-Cost Areas February 18, 2016 George Brooks The bill containing the language on VA loan limits was agreed to by a voice vote on Feb. 9 and was sent to the Senate.Read More
Short Takes: High Production Volume Isn’t Everything / More Loans Mean More Compliance Risk / European-Based Banks Eyeing Mortgage Pullback? / Mortgage Layoffs at Wells / New Hires for FGMC, Silver Hill February 17, 2016 Paul Muolo Wells Fargo continues to cut workers tied to the servicing function...Read More
Gone but Not Forgotten: Ocwen Founder Erbey Controls 17 Percent of the Company February 17, 2016 Paul Muolo Bill Erbey controls blocks of Ocwen's stock in his own name, but also through limited partnerships and limited liability corporations.Read More
Warehouse Provider’s New ‘Mortgage Correspondent Aggregation’ Business Experiences Turbulence February 17, 2016 Paul Muolo Texas Capital said the economics of the program are not as strong as originally projected...Read More
The Final Tally on FHA Originations: Up 77 Percent in 2015. Credit the MIP Cut? February 17, 2016 George Brooks Thanks to the MIP cut, it was FHA's best year since 2010. Read More
REIT Rethinks Jumbos: Hatteras Will Reduce Presence in the Market February 17, 2016 Brandon Ivey At Hatteras Financial jumbos are "out" and mortgage servicing rights are "in"...Read More
The GSEs' HARP Program: Going, Going, Just About Gone? February 17, 2016 John Bancroft What might replace the GSEs' HARP program? Maybe nothing...Read More
Short Takes: Freedom Expands Beyond Mortgages / A Trend in the Making? / Midwest M&A, Maybe / DocMagic Offers TRID R&W / Cook’s Ditech Gets $300K Bonus / February 16, 2016 Paul Muolo A few days later, Ditech filed notice with the SEC that the company would pay Patti Cook a $300,000 bonus for her service to the company...Read More
Clayton Taps Former Morgan Stanley MGD Brian Wornow to Lead Capital Markets Group February 16, 2016 Paul Muolo In the spring of 2014, Wornow left Morgan Stanley as managing director and head of its MBS trading desk.Read More
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