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Servicing Market Heats Up Early: A $4.2 Billion MSR Portfolio from MVSG

January 5, 2015
Paul Muolo
MountainView did not identify the company selling the servicing rights except to say it is a “well capitalized servicer.”
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Short Takes: Obama Again on GSE Reform / Newly Minted MBAs Hate Mortgages? / Guild Goes HLTV / An ATR for Payday Loans? / John Adams Settles FHA Charges

January 5, 2015
Brandon Ivey and Paul Muolo
Are recent graduates of business schools avoiding the mortgage industry?
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What We’re Hearing: The Top Mortgage Stories of 2014: A Kinder, Gentler FHFA; The Ocwen Disaster; Nonbanks (Except for Ocwen) Continue to Thrive; The End of QE; A Mortgage M&A Boom in Miniature; The FHA MMIF Returns to the Black…

January 2, 2015
Who knows, maybe Mel Watt will allow Fannie and Freddie to build retained earnings. (Don’t bet on it, but it’s an issue worth debating.)
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Short Takes: PHH May Unveil Renegotiated Private-Label Deals Soon / LOs are Hot, Mortgage Executives Are Not? / NPL Sales Weak of Late? / Large Wholesaler Enters 3% Down Market / Pingora Rocks in MSRs

December 31, 2014
Paul Muolo
According to Rick Roque, who heads MenloGlobal, “for the most part, executive level opportunities are stagnant, unless production comes with it."
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Are Fannie and Freddie Lobbying Again? In Subtle Ways?

December 30, 2014
Ed Roberts
Rep. Scott Garrett, R-NJ, is concerned that Fannie and Freddie have resumed lobbying, at least in subtle ways.
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Lenders Project Stability Heading Into 2015

December 30, 2014
Profit margins and a number of other mortgage banking metrics will continue to be stable in the first quarter of 2015, according to a Fannie Mae survey of senior executives at 192 lenders. “The share of lenders reporting a decreased profit margin outlook over the next three months appears to have remained relatively stable at around 30 percent since the second quarter,” Fannie said of the fourth-quarter survey results. Compliance costs, declining demand from borrowers and ...
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Outlook for First Quarter 2015 Mortgage Profits: Stable

December 30, 2014
Brandon Ivey
The share of lenders reporting a decreased profit margin outlook over the next three months appears to have remained relatively stable.
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Credit Reporting Agency Complaints to the CFPB Up 100 Percent YOY, But…

December 30, 2014
Thomas Ressler
The category of “incorrect information” continues to make up the lion’s share of the complaints, ICFPB found.
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Reintroduction of 97 Percent LTV GSE Loans a Big Ho-Hum?

December 30, 2014
Paul Muolo
Okay, so maybe the reintroduction of 97 percent LTV loans is not a game-changer...
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Lenders Largely Happy with Proposed Rule on Flood Insurance

December 30, 2014
Brandon Ivey
The CMC believes that servicers should not be required to verify flood insurance coverage on existing loans when the escrow option becomes effective.
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