MIAC Auctioning Off $908 Million Fannie/Freddie Portfolio November 19, 2014 Paul Muolo With roughly six weeks left in 2014, some mortgage firms are rushing to sell MSRs as a way to bolster fourth quarter profits. Read More
Short Takes: Any G-Fee News? No / Keeping an Eye on MSR Sales / Why Realtors Will Live Forever / California Home Sales Nothing Special / Jeb Will be Back, Hensarling At Least November 19, 2014 Paul Muolo, George Brooks, and Charles Wisniowski After a servicing sale closes, the GSEs must monitor each transaction to make sure the transfer of receivables took place in a timely manner and more…Read More
Senate Banking Chair Urges Watt and Treasury to End GSE Conservatorships November 19, 2014 Paul Muolo The two GSEs have been in conservatorship for six-plus years now, with no legislative solution to their future in sight.Read More
CFPB Warns Mortgage Firms on How they Treat Borrowers with Disability Income November 19, 2014 Thomas Ressler The new bulletin discusses standards and guidelines on verification of disability income, including those under the CFPB’s ability-to-repay rule.Read More
CS/DLJ Will Issue Non-Agency MBS Backed By ‘Re-Performers’ November 19, 2014 Brandon Ivey Fitch warned that about 25 percent of the collateral received C or D grades for material violations or lack of documentation.Read More
Morningstar: CMBS Market Notorious for ‘Rating Shopping’ November 19, 2014 George Brooks The CMBS market is well known for rating shopping, where issuers will invite up to six CRAs to conduct a preliminary review of an initial asset pool.Read More
Lower FHA Premiums? Dream On… November 18, 2014 Paul Muolo In a statement, Rep. Hensarling decried last year’s $1.7 billion “taxpayer-funded bailout” of the FHA.Read More
Short Takes: Obama Won’t Give Up on Killing the GSEs / Redwood Sells Debt / More Ocwen Customer Complaints / Carrington Bolts ARMs / The Return of Mike Baldwin November 18, 2014 Paul Muolo and Brandon Ivey Republicans have never been big fans of the GSEs and there’s plenty of Democrats who aren’t so sure about the government “guaranty” as well...Read More
Fannie Continues to Loosen Rules; 990 Days for a Foreclosure in New York November 18, 2014 Paul Muolo Fannie Mae recently loosened its credit standards on condominium loans. What's next?Read More
FHFA: Extensive ‘Testing’ Underway at Common Securitization Platform November 18, 2014 Charles Wisniowski In 2015, the team at the GSE common securitization platform will focus on implementation of the remaining software components...Read More