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Thought that New Production was Immune to Buybacks? Think Again

December 26, 2013
John Bancroft
Freddie Mac reported new buyback demands on $3.3 billion of mortgages during the third quarter, a stunning 31 percent increase from the previous period.
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Principal Reduction More Prevalent on Portfolio Mortgages than Non-Agency MBS

December 26, 2013
Brandon Ivey
Some 44 percent of mods on portfolio loans by eight large banks and thrifts include principal reduction in the third quarter of 2013.
Read More

FTC Approves Fidelity’s Purchase of LPS But Requires Sale of Oregon Assets

December 26, 2013
Charles Wisniowski
The terms of the FTC’s settlement require Fidelity to sell a “copy” of LPS’ title plants in the six Oregon counties.
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MSR Hungry REIT Gets FHLB Access Via Insurance Affiliate

December 26, 2013
Paul Muolo
It's not every day that a REIT gains access to a Federal Home Loan Bank. This REIT, of course, likes to buy mortgage servicing rights.
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Freedom Mortgage Hires Two Top Guns From PHH Mortgage

December 26, 2013
Paul Muolo
Freedom Mortgage, which has aggressive hiring plans this year, has tapped two top production executives from PHH.
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Short Takes: Mortgage Tax Extenders Set to Expire / New Residential to Sell More Shares / GSEs Hit Foreclosure Prevention Milestone / Madoff and Farkas – What Are They Up to? / The Mortgage PR Person Who Worked on Christmas

December 26, 2013
Paul Muolo and Charles Wisniowski
Let’s just hope that if Bernie Madoff and Lee Farkas are socializing together in prison they’re not plotting some type of massive mortgage scam.
Read More

A Tipping Point Coming for Electronic Mortgages?

December 26, 2013
Thomas Ressler
The GSEs’ common industry dataset that supports the CFPB’s new disclosure form is called the Uniform Closing Dataset, and is one component of the Uniform Mortgage Data Program, an ongoing effort being directed by the FHFA.
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Outlook Positive for Mortgage Insurance Sector, But Industry Awaits New Capital Rules

December 26, 2013
Paul Muolo
The mortgage insurance industry is anxiously waiting on new risk-to-capital rules being worked on by the Federal Housing Finance Agency.
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Short Takes: Will FHA Make a Change on the Loan Limit Cap? / New Applications Worst in Six Years / Private-Money Starts to Rock n Roll / Delinquencies on the Rise? It Depends on Who You Ask / Beer and Mortgage Banking

December 23, 2013
Paul Muolo
One former regulator told us that HUD is relying too heavily on foreclosure sales, which can drive down median values.
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FHA Extends Appeal Process on Lowering the High Cost Loan Limit

December 23, 2013
Paul Muolo
According to calculations from Inside Mortgage Finance, some counties will see the limit fall to $271,050. “At the very least FHA should allow for a phase-in period,” said one industry lobbyist.
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