Thanks to G-Fees, Fannie Mae Sees 44 Percent Jump in 1Q Profits May 7, 2015 Paul Muolo and Carisa Chappell Like Freddie Mac, Fannie cautioned that future earnings will be lower because of the company’s mandate to shrink. Read More
Bipartisan House Bill Allows Bank Loan Officers to Move Easily to Nonbanks May 7, 2015 Brandon Ivey The legislation would provide a temporary transitional license and give loan originators 120 days to pass testing standards...Read More
Short Takes: PHH and the Merrill PLS Contract? / What About Morgan and HSBC? / Stonegate Buries the Lead / Compass Point Not Impressed with Walter / PennyMac Joins an FHLB May 7, 2015 Paul Muolo and Brandon Ivey Most firms report the earnings/loss figure in the first or second paragraph of their press release, but not Stonegate Mortgage.Read More
A Conundrum: Despite Improving Originations, Servicing Balances Shrink May 7, 2015 John Bancroft It’s not clear whether thousands of other – much smaller – mortgage servicers grew enough to offset the decline in the top tier. Read More
PennyMac Set to Acquire $9.3 Billion of Ginnie Mae MSRs; Boosts Originations May 7, 2015 Brandon Ivey PennyMac Financial Services also originated $8.9 billion of home mortgages in 1Q, an 11.3 percent increase compared to the previous quarter.Read More
Two Harbors Reports a Profit for 1Q, Sees Opportunities in MSR Acquisitions May 7, 2015 Brandon Ivey Two Harbors is developing a network of lenders that will sell MSR assets to the company on a flow basis.Read More
Short Takes: FHFA’s Reps-and-Warranties Clarifications a Bust? / Deephaven’s Nonprime Volume a Mystery / A ‘Responsible’ Nonprime Lender / Mostly a Seller’s Market for Homes? May 6, 2015 Paul Muolo Deephaven's website boasts that it helps “aspiring” homeowners “purchase homes as soon as one day after foreclosure or short sale.” Read More
Bank of America Throws 203(k) Loan Program Overboard May 6, 2015 Paul Muolo Among all FHA originators, Bank of America ranks eighth nationwide, based on January figures...Read More
Trade Group Calls for Disclosures on Loan Officer Qualifications May 6, 2015 Thomas Ressler Such disclosures also should show whether the LO has passed the SAFE Act test.Read More
Broker Market Share Up to 13 Percent; Is 20 Percent Doable? May 6, 2015 Paul Muolo Now that brokers are gaining traction, the big question becomes: how much more market share can they gobble up?Read More
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