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Short Takes: HUD Nominee Carson Says he will ‘Review ‘the MIP Cut / Why Banks Avoid the FHA Program / HUD’s Budget: $45 Billion / Investor Cuts Stake in Annaly / CPR&T Downgrades Ocwen

January 12, 2017
Brandon Ivey and Paul Muolo
CPR&T predicted that the asset value of Ocwen’s mortgage servicing portfolio likely won’t benefit much from the recent spike in interest rates…
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What Does the Future Hold for PHH?

January 12, 2017
Paul Muolo
Bose George, who follows PHH for Keefe, Bruyette & Woods, also used the phrase “liquidation” to describe the company’s sale of assets.
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The Final Tally: Non-Agency MBS Production Tumbled Sharply in 2016

January 12, 2017
John Bancroft
Oddly enough, the nonprime space showed some signs of life last year and hopes are high for 2017 as well…
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A Different Type of Mortgage Fraud: ‘Reverse-Occupancy’ Scams Involving FTHBs

January 12, 2017
Brandon Ivey
Borrowers completing reverse-occupancy fraud aim to qualify for a mortgage with help from the theoretical rental income from the so-called investment property…
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Short Takes: To Fire Cordray, or Not to Fire Cordray, That is the Question / Just Run for Governor / Dr. Carson’s Advisors Include… / Quicken’s Gilbert: DOJ is ‘Out of Control’

January 11, 2017
Paul Muolo and Thomas Ressler
Cordray, of course, could just nip this in the bud right now, resign and start his run for governor of Ohio…
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Zeus Offers Crowdfunding for Hard-Money RE Loans. Four-Day Funding?

January 11, 2017
Brandon Ivey
In addition to crowdfunded hard-money loans, Zeus offers traditional forward and reverse mortgages.
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On the Horizon: More Non-Agency/Non-Prime MBS Deals

January 11, 2017
Paul Muolo
In 2016, Caliber issued three non-agency MBS deals that included prime-quality and jumbo loans, often made to borrowers described in ratings’ reports as consumers with “unblemished” credit.
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Treasury Nominee Mnuchin Owns a Stake in Fannie & Freddie (Indirectly)

January 11, 2017
Paul Muolo
According to his financial disclosure form, Mnuchin lists the value of his Advantage stake at $500,001 to $1 million.
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Mortgage Hiring Accelerates in November. Can it Last?

January 10, 2017
Paul Muolo
Some industry executives have been predicting a correction in mortgage hiring in the coming months, with large layoffs anticipated at shops that have focused too strongly on refinancings.
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HSBC Hit with $33 Million Fine Over Flawed Foreclosures

January 10, 2017
Thomas Ressler
As part of the settlement, the OCC lifted certain business restrictions that had been placed on HSBC…
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