Angel Oak Readies Non-Agency MBS August 16, 2018 Paul Muolo Select Portfolio Services will handle the monthly servicing chores for Angel Oak.Read More
States Tighten Servicing Rules, but CFPB Still a Factor August 16, 2018 Yemeng Yang There’s a perception the CFPB will take fewer enforcement actions under the leadership of Mick Mulvaney, but industry attorneys question whether there has been any pullback…Read More
Jumbo Originations Up Sharply in 2Q18 August 16, 2018 John Bancroft Wells Fargo, JPMorgan Chase and Bank of America were the top producers of jumbo loans in the second quarter…Read More
Short Takes: Who Needs the GSEs? / JPM’s Strategy / Subservicers on the Auction Block? / New Diligence Advisors Gets the Seal of Approval from KBRA / Atlantic Bay Mortgage Won’t be Buying VA Bank After All August 15, 2018 Paul Muolo We know of one large subservicer that’s for sale (Ditech Financial), but a second processor may also be considering offers.Read More
Surprise: Quicken Rolls Out Private Sector Reverse Mortgage August 15, 2018 George Brooks Funding for Quicken's new reverse mortgage will come from securitization… Read More
Quicken Loses Large Broker Partner, Blames BRAWL, UWM and its CEO August 15, 2018 Paul Muolo CEO Mat Ishbia: “We are not sure why Quicken Loans has decided to bring UWM into this situation."Read More
The Fannie Mae Mystery Executive in the Heavily Redacted FHFA IG Report: CEO Timothy Mayopoulos August 15, 2018 Carisa Chappell On July 23rd, Fannie announced Mayopoulos would depart as CEO before yearend. The heavily redacted FHFA IG report is dated July 26. Read More
Moody’s Gives loanDepot an ‘Average’ Assessment August 15, 2018 Brandon Ivey This spring, loanDepot was rumored to be a takeover target of Internet retailer Amazon.com…Read More
RBS Agrees to Pay DOJ $4.9 Billion to Settle MBS Fraud Charges August 15, 2018 Paul Muolo Among those subprime MBS investors: Fannie Mae and Freddie Mac.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