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Subservicing Volumes Begin to Ebb, but Over The Long Haul the Outlook is Mostly Positive

March 8, 2018
The nation’s subservicing specialists increased the dollar volume of their contracts by a scant 0.5 percent in the fourth quarter, a sign that the market may be easing somewhat. But anecdotal evidence suggests there’s more gas left in the out-sourcing tank.
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Chase Bank Expands Affordable Lending Program With $50 Billion Commitment to LMI Households Over Next Five Years

March 8, 2018
Chase Home Lending this week announced plans to increase its affordable lending efforts by 25 percent over the course of the next five years. This translates to a $50 billion affordable lending commitment between now and 2023 using homebuyer grants and other incentives.
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Short Takes: Risk Sharing Denting GSE Profits? / Time to Put on the Investment Banking Hat? / Someone at HUD Hates Semi-Colons / Now, More than Ever, it Might be Time for All Concerned at HUD to Take the ‘Niceness Pledge’ / Invitation Homes Executive Gets

March 8, 2018
Paul Muolo
Whatever happened to the “niceness” pledge that Carson wanted everyone there to take? Certainly, if there’s a need for niceness at HUD, it might be now…
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GSE Investors Twisting in the Wind

March 7, 2018
Paul Muolo
The way things stand today, the only GSE class of stock worth anything is the senior preferred held by Treasury.
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RBS Settles Legacy Non-Agency MBS Case with NY, Investigation by DOJ Pending

March 7, 2018
Brandon Ivey
According to a tally from Inside MBS & ABS, RBS/Greenwich Capital ranked second among all subprime MBS underwriters that brought deals to market from 2004 to 2007 with $261 billion.
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The Big Loser in the Nationstar-WMIH Merger: Uncle Sam

March 7, 2018
Paul Muolo
In a new SEC filing, Nationstar reveals plans to introduce new products aimed at debt consolidation…
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Short Takes: Gary Cohn’s Resignation and the GSEs / Don’t Assume Anything / Fannie Mae’s ‘10 Percent Moment’ / Okay, Now’s the Time / SolomonEdwards Names Ranieri to its Board

March 7, 2018
Paul Muolo
GSE shareholder rights group Investor Unite was quick to pounce on the Pollock blog...
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Fannie Mae Keeping Tabs on the CFPB’s Ability-to-Pay Rule

March 7, 2018
Paul Muolo
Fannie Mae warns that changes could have a material effect on the “quality and quantity of loans available for sale to us.”
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New York Fed Suggests a Few Improvements to the GSE CRT Programs

March 6, 2018
Carisa Chappell
The New York Fed argues that CRTs have reduced the GSEs’ exposure to mortgage credit risk without disrupting the stability of the secondary mortgage market…
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Warehouse Commitments Begin to Suffer, ‘Usage Levels’ Fall into the Ugly Zone

March 6, 2018
Paul Muolo
With rates rising steadily since late last year and refinancing growing scarce, nonbanks are now experiencing weak origination volumes…
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