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Redwood Boosts 3Q Income with Above-Average Margins on Jumbo Operations

November 8, 2016
Brandon Ivey
Redwood sold $774.0 million of home mortgages into a welcoming whole loan market along with a $358.00 million jumbo MBS…
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Shellpoint Plans First Non-Agency MBS in More than a Year

November 8, 2016
Brandon Ivey
Shellpoint is the parent of New Penn Financial and Shellpoint Mortgage Servicing, both top-50 players…
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Short Takes: Negative Feelings on GSE Reform / Zero Capital is Not An Issue / GSE Subcommittee Chairman Garrett May be Vulnerable / Jumbo MBS Execution Improves / Stonegate Hires Ex-US Bank Official

November 8, 2016
Brandon Ivey and Paul Muolo
And roughly 24 percent of IMFnews viewers believe that reform of Fannie Mae and Freddie Mac likely won’t happen in their lifetime…
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PHH Shocker: Nonbank Will Exit the PLS Business; Agrees to Sell Ginnie MSRs to Lakeview; Posts $27 Million Loss for 3Q16

November 8, 2016
Paul Muolo
CEO Messina added: “We are continuing to evaluate possible additional sales of our remaining MSR portfolio and to evaluate the best course of action for our real estate and servicing platforms, which we expect to complete by the end of January 2017.”
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Trade Groups Can Hope and Ask, but a Cut in FHA Premiums Likely Won’t Happen in 2016

November 7, 2016
George Brooks
Deutsche Bank Securities said there’s been no new information to alter its view that the MIP would be cut this year. “However, we seem to be in the minority,” said research analyst Jeana Curro.
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Florida Supreme Court Sets Precedent Favoring Servicers in Foreclosure Case

November 7, 2016
Brandon Ivey
Almost six years after the initial foreclosure complaint was filed, the same borrower was facing a subsequent foreclosure action due to another default on the mortgage…
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As the Holidays Approach, Mortgage Bankers Still Hiring ‘Like Crazy’?

November 7, 2016
Paul Muolo
“We’re still hiring a lot,” said United Wholesale CEO Mat Ishbia.
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CFPB Reveals Actions Taken Against Non-QM Lenders on Income Verification

November 7, 2016
Brandon Ivey
The CFPB did not like the idea of some lenders using an Internet-based tool that aggregates employer data and estimates income based upon each consumer’s zip code, job title, and years worked…
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Phoenix Selling Almost $400 Million of GSE Servicing Rights

November 7, 2016
Paul Muolo
The MSRs that Phoenix is trying to sell have a 30-day delinquency rate of 0.2 percent with no foreclosures.
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Short Takes: A Decent Quarter for Stonegate? / A Move Toward TPO / FGMC Seeks LOs for Goodmortgage.com / Garrett’s Role in HomeBridge Deal / Freddie Prepares New HLS

November 7, 2016
Brandon Ivey and Paul Muolo
Not too long ago, Stonegate Mortgage began deemphasizing retail in favor of correspondent and wholesale...
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