Doesn’t Sound Like Fannie Mae Will Offer its Automated Underwriting System for Free May 28, 2015 Paul Muolo It stands to reason that by waiving the charge that Freddie might take in less revenue, but a GSE spokesman said as a financial matter, “it’s not material.”Read More
As Ocwen Shuts Houston Platform, Hiring in India (Overseas) Booms May 28, 2015 Paul Muolo In total, almost 72 percent of all Ocwen employees are domiciled overseas where labor costs are much cheaper.Read More
FHFA Ready to Hike Conforming Loan Limits? May 28, 2015 Brandon Ivey The regulator said it plans to use its “expanded data” house price index to determine adjustments for conforming loan limits. Read More
Brokers Continue ‘Comeback,’ Post Highest Market Share Reading Since 2010 May 28, 2015 John Bancroft Mortgage brokers facilitated an estimated $39.0 billion of home mortgages during the first three months of 2015... Read More
Black Knight Nets Nearly $480 Million on IPO, Plans to Expand in Mortgage Services May 27, 2015 Brandon Ivey Black Knight plans to expand its offerings to existing clients, gain new clients, introduce new products and selectively acquire smaller vendors...Read More
Lone Star Funds Winning Bidder on Freddie Mac NPL Deal May 27, 2015 Carisa Chappell Although Freddie Mac did not disclose the exact purchase price, it said the cover bid was in "the mid 70s of UPB..."Read More
MountainView Selling Ginnie Mae MSR Package May 27, 2015 Paul Muolo According to the offering circular, the receivables are geographically dispersed with Texas accounting for the largest share at 7.2 percent.Read More
Short Takes: Who’s Blackstone Talking to Now? / Carrington Offering Low FICO Score Loan Thru Brokers / The Return of American Home’s Michael Strauss? / HUD IG Cites NTFN May 27, 2015 Paul Muolo and George Brooks We understand that American Home Mortgage founder and chief executive Michael Strauss may be launching a new nonprime lender...Read More
California Has a Huge Gain in GSE Business: Up Almost 70 Percent May 27, 2015 John Bancroft Texas and Florida, the second- and third-largest sources of GSE business, both saw solid gains from a year ago...Read More
Warehouse Market Heats Up – Thanks to Refis and Market Surge by Nonbanks May 27, 2015 Paul Muolo Moreover, 12 of the top 20 originators are now nonbanks, all of which rely heavily on commercial banks for warehouse creditRead More