VA Doesn’t Like Bill that Would Increase Costs on Vet Home Loans August 14, 2018 George Brooks Both the VA and residential originators believe the fee increase would be used to cover expanded health-care benefits…Read More
Cowen Sees Political Turmoil Whipsawing the Financial Services Landscape. Servicers Should Brace for Action August 14, 2018 Yemeng Yang Cowen: “We would expect enforcement to return with Democratic control and wane with GOP control.”Read More
Short Takes: GSE Nonprime Holdings Keep Shrinking / However… / Production Remains Strong at UWM / LendingTree’s Share Price: Down, Down, Down / Lenders One Promotes Kuentz to CEO August 14, 2018 John Bancroft and Paul Muolo Fannie and Freddie stopped acquiring nonprime mortgages during the financial crisis, but they haven’t completely avoided the loans... Read More
RBS Agrees to Pay DOJ $4.9 Billion to Settle MBS Fraud Charges August 14, 2018 Paul Muolo Overall, RBS underwrote $261.1 billion of subprime securities during the go-go years...Read More
Why Mayopoulos’ Senior Lieutenants Will Turn Down the Fannie Mae CEO Job August 13, 2018 Paul Muolo Mayopoulos didn’t even earn a performance bonus in 2017, despite a companywide pre-tax profit of $18.4 billion.Read More
New Players Enter Non-QM Market by Aggregating Loans and Issuing MBS August 13, 2018 Brandon Ivey The new MBS from Neuberger Berman is backed by loans originated by Impac Mortgage Holdings…Read More
VA Production Spikes 30.2 Percent, Thanks to Strong Purchase Lending August 13, 2018 George Brooks However, VA refi business struggled in the second quarter with production falling 7.0 percent…Read More
IMA Working on $20 Billion MSR Transaction August 13, 2018 Paul Muolo The top five sellers of bulk agency product during the first-half of 2018 were Stearns Lending, Flagstar Bank, Seneca Mortgage, United Shore Financial (parent of United Wholesale Mortgage), and loanDepot.Read More
Movement Mortgage Hires Top Recruiter from Academy Mortgage August 13, 2018 Paul Muolo Green will help Movement Mortgage recruit new loan officers…Read More
Short Takes: Beware CECL Accounting? (Fannie/Freddie) / What it Means / MIAC Selling Multifamily Servicing Rights / C2 Financial, Who are They? / Mayer Brown’s New Mortgage Attorney August 13, 2018 Paul Muolo Beware CECL accounting?Read More
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