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Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders

April 24, 2013
Paul Muolo and Thomas Ressler
Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions.
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Flagstar Sees Production Decline, Stock Hammered in Trading

April 24, 2013
Paul Muolo
Although Flagstar earned money on its mortgage business in the first quarter, its gain-on-sale margin took a major hit.
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Short Takes: CFPB Showing Some Love for Banks / Fannie About to Award a Big Tech Contract? / FHFA Doesn’t Want Higher Minimum Net Worth / Home Buyer Traffic Spikes / 100 Percent LTV Loans Not on NCUA’s Radar?

April 23, 2013
Paul Muolo
Residential lenders can rest easy: the GSEs aren't about to hike their net worth minimums. Also: the CFPB shows some love to banks.
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ASF Suggests Ways for Fannie and Freddie to Reduce Their Market Share

April 23, 2013
Brandon Ivey
ASF suggests that one way to reduce the market share of the GSEs is to hike guaranty fees once again.
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PennyMac Sees Correspondent Purchases Decline, Jumbo MBS Coming

April 23, 2013
Brandon Ivey
PennyMac once again posted strong earnings, but the REIT's correspondent purchases are beginning to slow somewhat.
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Prices Climbing for Jumbo Mortgages

April 23, 2013
Paul Muolo
The jumbo market is heating up, which means the price paid for whole loans is on the rise.
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Vericrest the High Bidder on $16 billion of BofA MSRs

April 23, 2013
Paul Muolo
Vericrest Financial is said to be the winning bidder on a $16 billion package of mortgage servicing rights. However, the company would not comment.
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House Banking Chairman Won’t Let CFPB’s Cordray Testify

April 23, 2013
Thomas Ressler
Although Rep. Hensarling rebuffed Cordray, the CFPB chief delivered the agency’s semi-annual report to the Senate Banking Committee Tuesday morning.
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Short Takes: Need Seller/Servicer Approvals? Bring Your Check Book / IMA Selling Ginnie Bulk MSR Deal / Fitch Worries About CMBS / Will the Senate Grill CFPB’s Cordray? / New Hire at WFG National Title

April 22, 2013
Paul Muolo and Thomas Ressler
Obtaining approvals to become a GSE seller/servicer can cost you, but think of the money you can make from owning servicing rights.
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FHA Delinquencies Declined 9 Percent in the First Quarter

April 22, 2013
George Brooks
Perhaps, the FHA Mutual Mortgage Insurance fund won't need a bailout after all: In 1Q delinquencies fell by just over 9 percent, according to exclusive figures compiled by Inside Mortgage Finance publications.
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