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Judge Grants Partial Discovery in GSE ‘Takings’ Case, Public Access Limited

July 17, 2014
Charles Wisniowski
“In essence, defendant asserts that the court should merely take its word that the documents – some of which defendant itself has not reviewed – are privileged,” wrote Sweeney. “This suggestion runs contrary to law.”
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Industry Groups Across the Spectrum Support DTI ‘Right to Cure’ for QM

July 17, 2014
Thomas Ressler
The American Bankers Association said its members were not able to clearly identify instances where a DTI cure mechanism would be useful in the normal course of bank operations.
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Short Takes: Strong Earnings for MGIC, But a Warning Too / Non-QM to the Rescue? / Ocwen in Stock Deal with Ross / Stonegate Mortgage Gets a ‘Neutral’ Rating / Canada in for a Big Housing Correction?

July 16, 2014
Paul Muolo, Brandon Ivey, and Sherry Muolo
MGIC is operating with each GSE as an eligible insurer under a remediation plan. In trading Wednesday, its share price was down 9 percent…
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Ocwen Partners with Consumer Advocates to Track Issues Borrowers are Having with the Servicer

July 16, 2014
Brandon Ivey
Ocwen's consumer council will consider issues such as principal reduction loan modifications, reducing urban blight, helping minorities and improving language access to borrowers with limited English proficiency.
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BofA the Latest Megabank to Report a Strong Rise in Originations

July 16, 2014
Paul Muolo
Residential loan production is looking up at Bank of America. But can it last?
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Federal Reserve Plan Means More Due Diligence on Third-Party Servicers

July 16, 2014
George Brooks
Morgan Stanley’s regulatory action plan supplements the firm’s global risk-management program for third-party servicers, which is currently in place.
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Wells Fargo Securities Downgrades Nationstar, Walter; Says Stocks May Plunge

July 16, 2014
Paul Muolo
Analysts at Wells Fargo Securities believe there could be a huge downside to owning shares of Nationstar and Walter Investment.
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GSE MBS Business Activity Rebounds in Second Quarter

July 16, 2014
John Bancroft
Year-to-date MBS issuance by Fannie and Freddie was down 60.9 percent from the first half of 2013.
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Orange Capital Slashes Stake in PHH

July 15, 2014
Paul Muolo
The holding company for the nation’s sixth largest lender recently sold its fleet division, and is in the throes of restructuring its mortgage unit, which is now its main line of business.
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Short Takes: Quicken Overtakes JPM as the Nation’s #2 Lender? (Not Likely) / What Does Jamie Dimon Like Less, Brokers or the FHA? / BofA Cuts New Repo Deal for PennyMac / Earnings Due Soon from MGIC, Radian, Others

July 15, 2014
Paul Muolo and Sherry Muolo
Here’s a question to ponder: what does Jamie Dimon like less? Loan brokers or the FHA?
Read More
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