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New HECM Underwriting Changes Could Reduce Program Volume by 20 Percent

August 31, 2017
George Brooks
During a press briefing with the media this week, HUD officials estimated there are roughly 24 million seniors with untapped equity in their homes…
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While Nonbank Mortgage Stocks (Walter, Ocwen) Tank, ‘mREITs’ Excel

August 31, 2017
Paul Muolo
Several top-ranked REITs are now trading much closer to their 52-week highs than their lows while maintaining hefty dividend payments to their shareholders.
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Looks Like CFPB Director Cordray is Staying – for Now

August 31, 2017
Paul Muolo
In a blog posting midweek, attorney Barbara Mishkin of Ballard Spahr says it appears Cordray will not resign before Labor Day…
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S&P: Residential Servicers Can Anticipate Vigorous Regulation to Continue

August 31, 2017
Thomas Ressler
Even if the feds ease up on regulation, the states will continue to be vigorous…
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Short Takes: Navy Federal Would Like to Purchase Servicing Rights / An MSR Offering from Prestwick / Fed Okays Sterling’s Purchase of Astoria / A Clarification / New Hires for Castle & Cooke

August 31, 2017
Paul Muolo and John Bancroft
The Fed just greenlighted a bank M&A deal...
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MBA: Production Profits Soared in 2Q17 – Thanks to a Reduction in Expenses

August 30, 2017
Paul Muolo
Meanwhile, net servicing income fell to $27 per loan in 2Q17 from $225…
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Eli Global Wants to be a Player in Mortgages, but Who Are These Guys?

August 30, 2017
Paul Muolo
Another source added: “Eli’s interest in the industry is legit. They want to buy and hold companies.”
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GSE Single-Family MBS Business Edged Higher in July

August 30, 2017
John Bancroft
In July, the top five GSE loan sellers were Wells Fargo, Chase, Quicken, PennyMac and AmeriHome Mortgage…
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HUD Quadruples the Upfront Reverse Mortgage Premium. NRMLA Not Happy

August 30, 2017
Paul Muolo
NRMLA said the changes "diminish the benefit (amount of loan proceeds) available and increase the costs (increased upfront mortgage insurance premium) to most borrowers.”
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Mortgage Applications Take a Late Summer Vacation

August 30, 2017
Sherry Muolo
The refi share of new applications continues to rise…
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