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Short Takes: Homebuyers Hitting the Brakes / But No Reason to Panic / Senate Moves Closer to Vote on Kraninger / Freddie’s ‘Sweat Equity’ Deal / A New Hire for Embrace Home Loans

November 27, 2018
Paul Muolo, Yemeng Yang, and Dennis Hollier
Arch Chief Economist DeFranco says despite lower sales, it’s still a seller’s market in most cities…
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Biting Comments on FHFA’s Proposed Rule on UMBS

November 26, 2018
Dennis Hollier
Making sure the MBS issued by the two GSEs perform identically, within narrow limits, is key to convincing traders…
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Bank Holdings of MBS Drifted Lower in 3Q18

November 26, 2018
John Bancroft
A huge chunk of the fall-off in Fannie/Freddie MBS holdings occurred at Wells Fargo, which reduced its investment in these securities by $7.31 billion.
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White House Contemplating Calabria for the FHFA Job. Big or Gradual Changes in the Wings?

November 26, 2018
Paul Muolo
The implication is that banks – which seems to have excess capacity on their balance sheets – could simply hold conventional loans in portfolio…
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Ocwen Hires Former Fannie Mae Securitization Chief to Head Lending Business

November 26, 2018
Paul Muolo
According to a statement issued by Ocwen, while at Fannie Yanoti was responsible for developing the common securitization platform.
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Altisource Will Sell SFR Investments, Pay Down Debt

November 26, 2018
Paul Muolo
Altisource has a stock repurchase plan in place that expires at Dec. 31…
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Short Takes: Steven Mnuchin Packing His Bags? / Probably Not / The Key to Administrative Reform of the GSEs: The Next FHFA Director / According to the AEI / A Promotion at Ocwen Financial

November 26, 2018
Paul Muolo
Cowen believes Mnuchin will survive the turbulence but notes the situation still poses a risk to Fannie Mae, Freddie Mac and the big banks…
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FDCPA Does Not Apply to Non-Judicial Foreclosures, CFPB Argues

November 26, 2018
Initiating non-judicial foreclosure is not a debt collection activity under the Fair Debt Collection Practices Act, the CFPB argued in a recent court filing in the U.S. Supreme Court. The court decision could have significant impact on the mortgage industry.
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Higher Interest Rates Eliminate Some Loan Mod Options; Servicers Face LIBOR Uncertainty

November 21, 2018
Servicers working with distressed borrowers now have fewer loan modification options due to higher mortgage interest rates.
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Correspondent Platforms Gained Share in 3Q18 As the Only Channel to Boost Production Levels

November 21, 2018
The primary mortgage market’s growing reliance on purchase-money lending helped swing a little more business to correspondent lenders in the third quarter of 2018, according to an Inside Mortgage Finance ranking and analysis. [Includes four data charts.]
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