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Refi Specialist CashCall Contemplating Staff Cuts, Is a Sale on the Horizon?

June 11, 2013
Paul Muolo
At press time, CashCall founder and president Paul Reddam could not be reached for comment.
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HUD Employees Will Be Furloughed June 14

June 11, 2013
George Brooks
Testifying before a Senate panel earlier this year, HUD Secretary Shaun Donovan warned that sequestration would limit the FHA’s ability to provide information and services in a wide range of areas.
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Short Takes: Freddie Could Earn Even More Money / GSE Shareholder Suit Hardly a Surprise / More on EverBank’s Jumbo Deal / HUD Offers Advice on Asking About Disabilities / The Golden State of Mortgage Fraud

June 11, 2013
John Bancroft, George Brooks, Brandon Ivey, and Paul Muolo
Freddie Mac's low activity fee could add more than $2 million to its bottom line.
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MSR Values Rise In First Quarter, More Increases on the Way?

June 10, 2013
John Bancroft
Thanks to rising interest rates, the book value of mortgage servicing rights increased in the first quarter. Could more sales be on the way?
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CFPB Issues Compliance Guides for Residential Lending, Servicing

June 10, 2013
Thomas Ressler
The Consumer Financial Protection Bureau has issued two new compliance guides but is warning that they are not substitutes for the underlying rules.
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ICBA Demands Repeal of Freddie’s Low-Activity Fee

June 10, 2013
Charles Wisniowski
Community banks are getting slapped with a "low activity" fee from Freddie Mac and the ICBA is not happy.
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Prices Paid for MSRs Hit Four-Times the Servicing Fee

June 10, 2013
Paul Muolo
When interest rates rise, so do the value of mortgage servicing rights.
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Walter Investment to Restate RMC Financials Due to Servicing Errors

June 10, 2013
George Brooks
In a new filing with the SEC, Walter Investment said it discovered that its new reverse subsidiary had failed to record certain servicing errors.
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Short Takes: Cash-Out Refis, a Thing of the Past? / Fannie, Freddie Shareholder Petition Takes Off / John Paulson Bets on MI Firms / MGIC Reports Better Numbers / How to Analyze Your Shop for a CFPB Exam

June 10, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
Will cash-out refinancings ever return? Meanwhile, a new petition posted on the White House website that might helps GSE shareholders is taking off.
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Emerging Senate GSE Reform Bill Tries to Preserve Agency MBS Market But Leaves a Lot Unresolved

June 7, 2013
The bipartisan legislation to replace Fannie Mae and Freddie Mac that’s taking shape in the Senate would leverage key reform projects already underway at the government-sponsored enterprises, but it doesn’t tackle some of the key transition issues the market would face by putting the GSEs out of business. The reform plan being put together by Sens. Bob Corker, R-TN, and Mark Warner, D-VA, has at its core the risk-sharing projects currently being designed by the GSEs, according to a copy of the draft legislation provided to Inside MBS & ABS. The Secondary Mortgage Market Reform and Taxpayer Protection Act of 2013 would also implement the common securitization platform that Fannie and Freddie are building under the direction of the Federal Housing Finance Agency. The legislation would put...
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