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Flagstar’s Originations Up Slightly in Third Quarter, GOS Takes a Hit

October 23, 2018
Brandon Ivey
Correspondent production accounted for 76.1 percent of Flagstar’s originations during the quarter...
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Short Takes: A 52-Week Low for Texas Capital / But Strong Earnings / Concern over the Future of Warehouse Lending? / TIAA’s Third Non-agency MBS / HomeStreet Sees Lower Production, Dark Clouds

October 23, 2018
Brandon Ivey and Paul Muolo
TIAA is preparing to issue its third prime non-agency mortgage-backed security of the year...
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Purchase Mortgages Dominate Jumbo MBS Issuance in 3Q18

October 22, 2018
Brandon Ivey
Prime jumbo MBS issuance continues to be dominated by 30-year FRMs, with few interest-only products represented…
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Ginnie Mae to Require Servicer, Credit Ratings for Largest Issuers

October 22, 2018
George Brooks
Ginnie will soon require its largest issuers to secure servicer ratings and, in some cases, credit ratings…
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More Experimentation in Non-Agency MBS Market with Issuance from Verus

October 22, 2018
Brandon Ivey
The structure results in principal payments to subordinate classes earlier in the transaction…
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Lennar’s Mortgage Sub Settles FCA Charges with DOJ. Company Whistleblower will Receive $1.98 Million

October 22, 2018
Paul Muolo
The allegations center on loans submitted to FHA for insurance coverage from January 2006 to Dec. 31, 2011.
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Phoenix Capital Selling Ginnie Mae Servicing Rights

October 22, 2018
Paul Muolo
Florida loans account for the largest chunk of the receivables at 13 percent...
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Short Takes: HUD Shows its Enforcement Stripes / Otting, the Next (Interim) FHFA Director? / Sprout Mortgage Feeds Verus Nonagency MBS / Mayer Brown Hires CMG Attorney

October 22, 2018
Brandon Ivey and Paul Muolo
Otting is Comptroller of the Currency. The speculation is that he will pull a Mick Mulvaney and wear two hats for a while…
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Fannie and Freddie Just About Done Financing SFR Operators, But Review of the Pilot May Not Come Soon

October 19, 2018
Freddie Mac recently confirmed that it will provide indirect financing of $51.3 million to Reven Housing REIT, a publicly traded company that owns and manages 824 single-family rental units.
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Fannie, Freddie CEOs Cite Benefits of Conservatorship Discuss What the Future Holds for the Mortgage Industry

October 19, 2018
The CEOs of Fannie Mae and Freddie Mac – one recently departed, the other soon to leave – told attendees at this week’s annual convention of the Mortgage Bankers Association that a number of good things came out of the 10-year conservatorship of the two government-sponsored enterprises.
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