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Short Takes: The QRM Rule: 5% Down? / Jumbo Prices Getting Frothy? / Applications Fall but Don’t Panic / MSR Auctions of All Sizes

February 14, 2013
Paul Muolo and Brandon Ivey
Three senators are pushing for 3 percent downpayment language on the QRM rule.
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Private MIs Finish 2012 With Their Strongest Year Since 2008, Rebound in Market Share

February 14, 2013
Private mortgage insurers in 2012 posted their best year since the financial market collapse back in 2008 and suddenly – after being largely left as roadkill in the government’s bailout program – are attracting new capital. Private MIs reported $174.81 billion in total new insurance written in 2012, more than doubling the amount of business they did the year before, according to a new Inside Mortgage Finance ranking and analysis. With the FHA and VA programs growing at a more deliberate pace, it boosted the private MI share of the primary mortgage insurance market to 32.0 percent, up from 22.7 percent in 2011. A significant part of the private MI rebound came...[Includes three data charts]
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$20 Billion of TBW MSRs Being Shown to Selected Bidders

February 14, 2013
Paul Muolo
Roughly $20 billion of mortgage servicing rights that once belonged to Taylor, Bean & Whitaker are quietly being shopped around.
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Former Countrywide Executive Up for Top Job at Vericrest?

February 14, 2013
Paul Muolo
Joe Anderson, who worked at Countrywide Financial Corp. for 17 years and then Nationstar, is considered the top candidate to get the CEO job at Vericrest Financial.
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Private MIs Finish 2012 With Strongest Production in Four Years

February 14, 2013
John Bancroft
Thanks, in part, to HARP loans private mortgage insurers in 2012 posted their best year since the financial market collapse back in 2008, according to new figures compiled by Inside Mortgage Finance.
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Short Takes: FHA Chief Worries About Pricing Borrowers Out of the Market / Fortress Has Plenty of Cash to Spend on MSRs / Former Freddie Executive Key Player in Cerberus REIT / New Penn Hires Correspondent Chief / Fay Servicing Who?

February 13, 2013
Paul Muolo and George Brooks
Fortress Investment Group has raised $1.6 billion to buy mortgage assets, including servicing rights.
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Fannie Moves Closer to Selling Nonperforming Mortgages, Hires Milestone

February 13, 2013
Paul Muolo
Fannie Mae is working on a plan to sell billions of dollars of nonperforming loans in the second quarter.
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Industry Expects GSEs to Double Seller Net-Worth Minimum

February 13, 2013
Paul Muolo
Officially, the GSE net-worth minimum is set at $2.5 million, but some in the industry think it will double eventually.
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Industry Can Question CFPB on Mortgage Rule Interpretations

February 13, 2013
Paul Muolo
The CFPB said mortgage lenders can ask the agency "important" interpretation questions on the many rules that it finalized this year.
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Obama to Congress: ‘Take a Vote and Send Me’ HARP 3.0

February 13, 2013
Charles Wisniowski
President Obama, during his State of the Union address, urged Congress to get the HARP 3.0 refinancing program off the ground.
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