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Mortgage Sales by Banks Plummeted in Early 2014

July 2, 2014
John Bancroft
The sale of mortgages by banks took it on the chin in the first quarter. Lower originations is one explanation but are banks keeping more of their own production?
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NAMB Surveying Mortgage Brokers on Credits Granted; $2 Billion in 2013?

July 2, 2014
Thomas Ressler
NAMB estimates that during the same year brokers nationwide rebated upwards of $2 billion to consumers at the closing table.
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Mortgage M&A Heats Up: Sale of CTM Nears; HomeStreet Sells $3B of MSRs; MIAC Active

July 1, 2014
Paul Muolo
There has been plenty of talk about mortgage M&A, and now it appears that deals are finally happening.
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CFPB Should Make ‘Right to Cure’ Easier for Assignees

July 1, 2014
Thomas Ressler
For such assignees, the bureau would select one of the following alternative periods for the right to cure: 270 days after loan delivery, or 120 days after such assignee’s discovery of non-compliance.
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Short Takes: Wells Fargo in Repo Deal with Ocwen Spin-off / New Capital Rules for Mortgage Insurers? / In Non-QM Loans We Trust / Don’t Fear the HELOC Reaper / Radian Completes Clayton Deal / USB Settles FHA Charges

July 1, 2014
Paul Muolo
Will a coming boom in the production of non-qualified mortgages help residential lenders survive the origination slump?
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FHFA Spearheading Effort on Capital Standards for Nonbank Servicers

July 1, 2014
Paul Muolo
But it’s not just talk of capital standards for nonbanks that has some in the industry spooked – it’s the issue of what constitutes capital.
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FHFA IG Worries About Nonbank Servicers Using Short-Term Loans, More

July 1, 2014
Paul Muolo
The FHFA IG seems to be singling out one nonbank megaservicer in particular. But the Inspector General isn't naming names...
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The FHLBs and MBS: The Love Affair Continues

July 1, 2014
Charles Wisniowski
The largest holder of MBS among the 12 regional banks is the Federal Home Loan Bank of San Francisco with $22.02 billion.
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MSR Values at Roughly Two-Times Historical Levels; a $50B Auction Coming?

June 30, 2014
Paul Muolo
To participate in the MSR market, institutional investors must partner with licensed and compliant servicers.
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Vantium Capital Awarded Servicing of Bankrupt Mortgage Firm

June 30, 2014
Paul Muolo
The downfall of Community Home is intriguing: the servicer closed its Jackson office and had customers send payments to Las Vegas. From there, payments were sent to a location in Costa Rica, according to AP.
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