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Jumbo MBS Issuance Spikes in 3Q, Credit Suisse the Top Issuer

October 15, 2014
Brandon Ivey
Redwood Trust ranked second in terms of issuance for the third quarter, pricing $636.0 million in jumbo MBS.
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‘Alternative’ Hedge Fund Varde Buying Nonprime Lender, Pledges $300 Million in Capital

October 15, 2014
Paul Muolo
Varde has been looking for an investment in the non-QM space for the past year and finally found Deephaven. “They’ve approached others as well,” one source told IMFnews.
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Short Takes: Varde Who? / Rich Investors Making Money Off Subprime / The 10-Year Goes South / Radian Set to Report Earnings / Does the CFPB Dislike Mortgage Brokers?

October 15, 2014
George Brooks, Paul Muolo, and Thomas Ressler
Deephaven founder Matt Nichols isn’t ready to provide details on the subprime lender's game strategy quite yet...
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NAR Goes to Bat for ‘Mini-Corr’ Lending Channel

October 14, 2014
Thomas Ressler
Under a “mini-corr” arrangement, a warehouse lender provides a line of credit to a loan broker, transforming that broker into an actual funder instead of just a loan facilitator.
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Consumer Complaints Filed with the CFPB Fell by Double Digits in 3Q

October 14, 2014
Thomas Ressler
When it comes to individual lenders, most of the top 50 targets of consumer gripes generally either stay in the same ranking or move up or down one or two levels.
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Is Wells Fargo Losing its Origination Mojo?; 3Q Fundings Almost Flat

October 14, 2014
Paul Muolo
Compared to the same quarter a year ago, residential originations fell 40 percent at Wells. At JPM the downdraft was even worse...
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Walter Reveals Additional Scrutiny on its Servicing Practices; It Met With AGs

October 14, 2014
Paul Muolo
The $17 million reserve will be booked as part of Walter's third quarter earnings.
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Just One Nonbank Had a Jumbo Market Share North of 1 Percent

October 14, 2014
Brandon Ivey
Banks were the top nine jumbo lenders, led by Wells Fargo with $41.49 billion in originations, accounting for a healthy 15.8 percent of all jumbo lending.
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Short Takes: Walter Joins the ‘New Low’ Club / When Will the ‘Dark Days’ End for the Public Nonbanks? / ETA on Wingspan Announcement? / MBA Wants Faster Action on a Single Security / In MI We Trust

October 14, 2014
Paul Muolo and Charles Wisniowski
Specialty servicer Wingspan is expected to issue a press release this week, providing some clarity about a change of control at the company and the future of its founder...
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FHA Loan Reviews Continue to Find Defects

October 13, 2014
George Brooks
Given the wide gap between the initially unacceptable findings and the subsequent “refresh” results, some lenders may ask the FHA to discontinue its disclosure of initially unacceptable findings.
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