The Fed of New York Likes What it Sees on ‘Fintech’ July 11, 2018 Brandon Ivey The Fed report focused on the origination of FHA mortgages, which are generally more risky than loans eligible for sale to GSEs…Read More
New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority July 11, 2018 Paul Muolo FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…Read More
Moody’s Warns that Non-Agency Underwriting Standards Could Deteriorate July 11, 2018 Brandon Ivey Under the Economic Growth, Regulatory Relief and Consumer Protection Act, banks with less than $10 billion in assets can receive QM treatment for certain loans...Read More
Verus Affiliate Set to Issue Largest Post-Crisis Nonprime MBS to Date July 11, 2018 Brandon Ivey Roughly 44.6 percent of the loans were underwritten with alternative documentation or bank statements…Read More
Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage July 11, 2018 Paul Muolo Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...Read More
PMI Analysts Look at Fannie’s New MI Pilot, Wondering If It Poses a Threat July 11, 2018 Paul Muolo But there’s a catch for lenders: Originators will have to pay an additional loan-level price adjustment…Read More
Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB July 10, 2018 Paul Muolo Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.Read More
Flagstar Hires Regions Bank Executive to Head Retail July 10, 2018 Paul Muolo In the first quarter of 2018, Flagstar funded $7.88 billion of home mortgages, just $960 million of which came through the retail channel...Read More
Short Takes: Fannie Launches MI Pilot / MBA Reg Counsel Joins Consulting Firm / Non Bank Market Share Grows / FHFA Capital Rule Criticized July 10, 2018 Carisa Chappell Fannie said the new lender option allows the GSE to streamline the operational requirements of participating lenders...Read More
Ditech’s Future: An ‘Asset’ or a ‘Stock’ Sale? Opinions Differ July 9, 2018 Paul Muolo Of course, Ditech has a bit of back story…Read More
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