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Private MI Lost Some Ground to FHA Insurance in 1Q16

May 12, 2016
John Bancroft
United Guaranty was the largest MI in terms of total policies written in 1Q16, but Arch Mortgage Insurance and National MI were the fastest growers.
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Altisource Goes from Challenging ‘Myths’ by ‘Self-Serving’ Activist Investors to Agreeing to Add Directors

May 12, 2016
Brandon Ivey
Analysts at PiperJaffray said the agreement “removes the near-term risk of Altisource being liquidated.”
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Short Takes: Technology Vendors Still Not Getting it Right on TRID? / Remember What Cordray Said About LOS Firms? / Former Fannie Tech Exec Lands at Sindeo / PMI Gaining on FHA? / Muldering Advances at FHA

May 11, 2016
Paul Muolo and George Brooks
Recent studies suggest reduced pricing and declining costs have given conventional mortgages with private MI an edge over FHA in the battle for high-quality borrowers...
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HUD Sends Final Condo Rule to OMB for Clearance

May 11, 2016
George Brooks
The rule is expected to reflect measures in the interim guidance, including modification of the requirements for condo project recertification...
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Signs of Life in Mortgage Hiring; Quicken Looks to Fill 770 Positions

May 11, 2016
Paul Muolo
Mortgage brokerage firms added 200 workers during March. Employment in the sector now stands at 80,400 positions.
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Some Nonprime/Non-QM Lenders Get Right With TRID, Expect Good Things

May 11, 2016
Paul Muolo
As for TRID, Citadel obtained legal opinions on how to properly fix errors on loan applications and over time grew comfortable with the process.
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Five Oaks Takes $17.8 Million Loss in 1Q16, Sees Opportunities with Risk Retention

May 11, 2016
Brandon Ivey
The market did not react kindly to Five Oaks' earnings news. At one point in trading, its share price was down 13 percent on the day.
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FHA Originations – When in Doubt, Use the Correspondent Channel

May 11, 2016
John Bancroft
Over half (51.1 percent) of VA loans securitized through Ginnie MBS in the first quarter of 2016 were retail originations, but only 39.1 percent of FHA loans came through that channel.
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GSEs Continue to Prune Investment Portfolios, Especially Subprime Assets

May 10, 2016
John Bancroft
Freddie Mac reduced its portfolio to $339.9 billion at the end of the quarter, a 2.0 percent drop. Like Fannie, the biggest decline in percentage terms was in non-agency MBS…
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PIMCO-owned FGMC Buys Assets of goodmortgage.com; Targets Fast Licensing Growth

May 10, 2016
Paul Muolo
goodmortgage.com will be operated as a division of FGMC and run as a “dba.”
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