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Short Takes: Wells Fargo Accused of Improperly Charging for Rate-Lock Extensions / A Big Deal or Not? / The Golden West-Sandler-Wells Fargo Connection / UWM Chief to Educate on ARMs

January 24, 2017
Paul Muolo and Thomas Ressler
Some of the allegations surfaced in a Nov. 2016 letter sent to Congress by a former Wells LO named Frank Chavez...
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A Spike in FHA/VA Default Rates for 4Q16; A Three-Year High is Reached

January 23, 2017
John Bancroft
Meanwhile, the supply of Ginnie single-family MBS outstanding continued to set new records…
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Past FHA Commissioner Montgomery Suggests Common Standards for FHA,VA, GSEs…

January 23, 2017
George Brooks
Brian Montgomery’s proposed Office of National Housing Policy would be headed by a “housing policy czar…”
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Fannie and Freddie are About to Provide a Nice Revenue Gift to Trump Administration

January 23, 2017
Paul Muolo
In 2016, Fannie and Freddie guaranteed $973.72 billion of single-family loans, an 18.1 percent improvement from the year prior.
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Bad News for Specialty Servicers: Foreclosure Rate Plunged 31 Percent in 2016

January 23, 2017
Thomas Ressler
As delinquencies and foreclosures decline, specialists that deal with problem loans should see a drop in business...
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Deephaven Bought $550 Million of Nonprime/Non-QM Loans in 2016

January 23, 2017
Paul Muolo
Deephaven's CEO, Matt Nichols, is a former managing director at Goldman Sachs where he worked for 12 years.
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Short Takes: The MIP Cut: No Big Deal? / A True FHA Jumbo? / New MF MBS From Freddie Mac / Nice Earnings from MGIC / Annaly’s Chief Legal Officer to Retire

January 23, 2017
Paul Muolo
One loan officer said FHA should consider building a "true jumbo program that is exclusive of Fannie Mae and Freddie Mac…”
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The Final Tally: ABS Issuance Was Just About Flat in 2016

January 20, 2017
John Bancroft
Santander Consumer USA was the most active issuer of vehicle ABS…
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Freddie Mac Talking to IRS About Tax Issues Tied to the Single Security. Is the ‘Float’ Taxable?

January 20, 2017
John Bancroft
One issue is the tax treatment of compensation that MBS investors receive for converting legacy Freddie participation certificates…
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Good News/Bad News on MBS Trading Volume: With MBS Prices Falling, No Place to Sell?

January 20, 2017
The average daily trading volume in agency MBS fell to $192.1 billion in December, the lowest reading of the year, according to the Securities Industry and Financial Markets Association. For the full year, however, average daily trading volume in agency product came to $206.6 billion, compared to $193.0 billion in 2015 and $178.0 billion in 2014. The last time trading volume was higher than in 2016 came three years earlier when $222.8 billion in agency product was traded on a daily basis. What the numbers actually mean is...
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