Due Diligence in Vetting Vendors Critical to QM Compliance August 15, 2013 Thomas Ressler Michael Chan, vice president of ComplianceEase, has come up with a check-list that should be part of every lender's due diligence effort. Read More
Report: 20 Percent Downpayment, Premium Recapture Gone From QRM Rule August 15, 2013 Paul Muolo FBR notes that a key provision in the draft QRM rule is that any mortgage securitized by Fannie or Freddie is automatically a QRM. Read More
Cole Taylor Mortgage Sale Heats Up August 15, 2013 Paul Muolo Cole Taylor Mortgage is talking to several semi-finalists that want to buy the company. Meanwhile, it's business as usual at the bank-owned lender.Read More
Freddies G-Fees Significantly Lower Than Fannies August 15, 2013 Brandon Ivey If you're looking for a g-fee bargain, Freddie Mac is offering deals. Well, sort of.Read More
Bank of America Selling $22 Billion of Ginnie Mae MSRs August 14, 2013 Paul Muolo If you thought that Bank of America was done selling mortgage servicing rights, think again.Read More
Short Takes: Going, Going, Gone: GSE Buybacks? / CapWest Enters the Wholesale Arena / Redwood About to Reward Its Executives? / The Terrible Twos for the CFPB / Fannie Mae Hired Someone It Was Suing August 14, 2013 Paul Muolo and Thomas Ressler It would appear that the GSE buyback scourge may be winding down. Meanwhile, Fannie Mae has egg on its face over someone it hired.Read More
PennyMac Raising $248 Million in Equity, Will Buy Nonperforming Loans August 14, 2013 Paul Muolo The market did not react kindly to PennyMac's announcement about selling more shares of common stock. Read More
With New HUD Letter, It Looks Like Curtains for Eminent Domain August 14, 2013 George Brooks Any private label mortgage seized through the use of eminent domain will not be eligible for FHA coverage, HUD hints in a new letter.Read More
Fannie, Freddie Capital Markets Staff Turnover Mitigated For Now August 14, 2013 Charles Wisniowski The IG's evaluation survey found that the total cumulative voluntary attrition rate at Fannies capital markets group increased somewhat from January 2010 through 2012. Read More
Two Harbors to Issue its First Non-Agency Jumbo MBS August 14, 2013 Brandon Ivey The publicly traded REIT is jumping into the jumbo MBS market with its first deal. Many of the loans come from nonbanks.Read More