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Short Takes: Ocwen’s ‘Other’ Problem / How Much Might Ocwen Pay? / A Boom in LO Hiring? / Citadel to Enter the Second-Lien Space / Strong Earnings from Radian

October 30, 2014
Paul Muolo
Ocwen Financial has a huge mismatch between the size of its $400 billion servicing portfolio and its new originations. Then again, its MSRs are running off...
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Ocwen CEO Erbey on Potential NYDFS Settlement: $100 Million is the ‘Minimum’

October 30, 2014
Brandon Ivey
Ocwen chief Bill Erbey noted that the settlement amount might be materially higher and include requirements beyond a monetary penalty.
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Moody’s to Non-QM Lenders: Find Rookie Borrowers With Potentially Lucrative Careers

October 29, 2014
Brandon Ivey
Young doctors just out of medical school can be good non-QM credit risks. Of course, there's all that student loan debt to consider...
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Fannie Mae Turning Into a Multifamily MBS Monster: Deals Doubled in 3Q

October 29, 2014
Charles Wisniowski
Former FHFA Acting Director Edward DeMarco wanted to shrink the multifamily programs of Fannie and Freddie, but that initiative has been placed on the back burner.
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SIGTARP: Complaints About HAMP MSR Transfers ‘Escalating’

October 29, 2014
Brandon Ivey
The SIGTARP said that since the beginning of 2013 it has received complaints from “nearly 100” borrowers regarding issues with servicing transfers, and that 84 of the calls came in 2014.
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Pacific Union Financial Consolidates Wholesale Units, Some Layoffs Ensue

October 29, 2014
Paul Muolo
Roughly a month ago, ClearVision founder Jon Maddox announced his retirement to Pacific Union senior management.
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Guild Mortgage Isn’t Done Buying Other Lenders

October 29, 2014
Paul Muolo
Guild's McGarry also said the company will not be closing on any more transactions in 2014.
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Short Takes: Redwood’s New Jumbo MBS Has Eight Non-QMs / MB Launches Sports Firm, Reveals Mortgage Earnings / Ellie Mae is Worth What? / FHFA Has a New Watchdog, Finally / Distressed RE Fund Raises a Bundle

October 29, 2014
Brandon Ivey, Paul Muolo, and Charles Wisniowski
Pacific Union Financial took in $100 million of profits. It’s not every day that a privately held nonbank tells the world what it’s earning…
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What’s Going On? Consumers Are Complaining a Lot Less About Mortgages

October 28, 2014
Thomas Ressler
Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013.
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Quick Turn-Time on Latest Jumbo MBS from Two Harbors

October 28, 2014
Brandon Ivey
DBRS said one of the strengths of the new jumbo deal is its traditional lifetime representations and warranties.
Read More
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