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FHFA IG: Fannie Servicers Failed Certain Metrics on Short Sales

August 12, 2014
Charles Wisniowski
The IG also found that a Fannie Mae remediation plan does not hold servicers fully accountable for the resulting losses.
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Ability-to-Repay Rule is Definitely Having an Impact – on Non-Agency Production

August 12, 2014
John Bancroft
But almost 48 percent of senior loan officers said approval rates for prime jumbo borrowers were lower...
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Short Takes: Mortgage M&A: Lots of Talk, Not Much Action / New Penn Rolls Out Non-QM Loan / Arizona Mortgage Office Open to Offers / Auction.com Ramps Up Commercial Sales / Walter Seeks a New COO

August 12, 2014
Paul Muolo
A top producing office in Arizona for one mid-sized lender is making it widely known that it would like to move the entire staff to another firm...
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Fannie and Freddie Grew Securitizations by 12 Percent on a Sequential Basis

August 12, 2014
Charles Wisniowski
The privately held Quicken grew its Fannie/Freddie MBS volume by 18.5 percent from June.
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Ocwen Says Financials for 2013 and 1Q14 Are Not GAAP Compliant

August 12, 2014
Paul Muolo
Is Ocwen Financial's accounting adjustment much ado about nothing or a potential regulatory headache?
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Short Takes: Why is Galante Leaving FHA? / Not All Lenders are Suffering (Compared to Last Year) / Stonegate Has to Spend Money to Make Money / Caliber Hires Builder Chief

August 11, 2014
Paul Muolo
Stonegate Mortgage last week posted a meager second quarter profit of $300,000.
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SIFMA: The Playing Field is Slanted Against Non-Agency MBS

August 11, 2014
Brandon Ivey
SIFMA noted that in recent years both the FHFA and Congress have increased the GSEs’ guarantee fees in an effort to reduce their market share and make non-agency MBS issuance more competitive.
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Massachusetts Bank Selling Bulk Fannie Mae MSR Package

August 11, 2014
Paul Muolo
One of the largest packages currently out for bid is a $1.2 billion Fannie Mae/Ginnie Mae portfolio from Interactive Mortgage Advisors.
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Nonbank Mortgage Firms Show Mixed Results for Second Quarter

August 11, 2014
John Bancroft
A diverse group of 31 lenders tracked by Inside Mortgage Trends reported a combined $4.13 billion in mortgage banking income during the second quarter, up 32.7 percent from the first three months of 2014.
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Surprise: FHA Chief Carol Galante Resigns, Effective This Fall

August 11, 2014
George Brooks
In late July Galante met with the press to discuss working with FHA lenders. But now she's handed in her resignation. Why?
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