Newcastle, Fortress Affiliate Agree to Purchase $4.2B of Loans from HSBC March 6, 2013 Brandon Ivey New Castle and Springleaf are teaming up to buy a huge portfolio of consumer and real estate loans from HSBC.Read More
California Remains the Golden State for GSE MBS March 6, 2013 Charles Wisniowski Loans funded in California continue to dominate Fannie Mae and Freddie Mac purchases and MBS, according to a new analysis from Inside The GSEs.Read More
Short Takes: Does IBM Have the FHFA MBS Platform Contract? / New Penn Expands its Jumbo Products / Another Subprime Capital Raise? / Stonegate Hires Former Homeward Executive March 5, 2013 Paul Muolo Speculation is mounting that International Business Machines may have the contract to build the new single-platform MBS unit for FHFA.Read More
Coming Soon From Fannie Mae and Freddie Mac: a 70BP G-Fee March 5, 2013 Paul Muolo The mortgage industry is bracing for a 70 basis point guaranty fee from Fannie Mae and Freddie Mac. Read More
Turmoil at ASF as Board Members and Firms Quit Securitization Group March 5, 2013 Brandon Ivey The American Securitization Forum, a high profile trade group that focuses on MBS issues, is in turmoil with several of its board members quitting. Read More
Early Signs of Rebound For Piggyback Financing March 5, 2013 Paul Muolo It appears that 80-10-10 loan structures are making a comeback in the market, helping homeowners avoid paying private mortgage insurance.Read More
DeMarco Promises to Update the GSEs Master Plan for Mortgage Insurance, Force-Placed Policies March 5, 2013 Charles Wisniowski FHFA director Ed DeMarco is promising that changes are coming to how the GSEs use mortgage insurance and force-placed insurance.Read More
FHFAs DeMarco Promises Movement on Common MBS Platform in 2013, $30 Billion in Risk Sharing, and NPL Sales March 4, 2013 Paul Muolo It appears the GSE "common" securitization platform will happen this year.Read More
Ocwen Says its Servicing Cost for NPLs is Dirt Cheap, India? March 4, 2013 Paul Muolo Ocwen's huge overseas workforce has allowed it to lower its servicing costs substantially, at least that's how it appears.Read More
Short Takes: Fear Surrounding FHA Compare Ratios / Popular Bank To Unload $1 Billion-Plus of Delinquent Loans / CFPB About to Get Trimmed / Delinquencies Continue to Fall at Fannie / Okay, Whos Servicing Sen. Warrens Mortgage? March 4, 2013 Paul Muolo and Thomas Ressler Some lenders are concerned about the coming 'FHA Scorecard' and the ability of certain large funders to make their numbers look good.Read More