‘Service Levels’ Prompted KB Home to Switch Lender Partnership from Nationstar to Stearns October 5, 2016 Brandon Ivey KB Homes CEO Jeff Mezger said Stearns’ lending platform is far more efficient than Nationstar’s…Read More
Three Investors Win Bid for $963 Million of Freddie Mac NPLs; Loans Serviced by Wells and Ditech October 5, 2016 Paul Muolo Roughly 48 percent of the loans were previously modified and then became delinquent again.Read More
Judge’s Ruling in GSE Shareholder Case Finds No Reason to Keep Government Docs Hidden October 5, 2016 Carisa Chappell Fairholme, which won this round, controls roughly $2.4 billion of GSE junior preferred…Read More
Short Takes: Another Year, Another Issuance Record for Ginnie / 3Q16 Looks Like a Blowout Quarter / KB Will Take a Financial Hit on NSM JV / Redwood Readies New Jumbo MBS / New Chief for Appraisal Organization October 5, 2016 Brandon Ivey and Paul Muolo A blowout 3Q16 for residential originations and MBS issuance? Read More
TRID Comment Letters Keep Rolling In; LOs Coaching Borrowers to Trust Them? October 4, 2016 Thomas Ressler “In no other industry could you say you are charging a high fee and just promise it to be lower when you arrive for closing,” one commenter said.Read More
Money Market Funds Continue to Show the Love for GSE Debt October 4, 2016 John Bancroft Fund managers have a significant preference for Freddie paper over Fannie instruments…Read More
BofA Finally Pulls the Plug (in its Entirety) on the Merrill Lynch-PHH Private-Label Contract October 4, 2016 Paul Muolo In the new SEC filing, PHH notes: “Merrill Lynch originations will contribute approximately $45 million of pre-tax earnings for fiscal year 2016 based on the company’s estimate of Merrill Lynch loan closing volume for 2016.”Read More
Yet Another Lender Settles FHA Claims: PRMI of Utah October 4, 2016 Paul Muolo According to a mid-year ranking by Inside FHA/VA Lending, PRMI ranks 15th nationwide among all FHA lenders.Read More
Fresh HMDA Data Show a Surge in Refi and Govt. Purchase Loans Sparked Production Last Year October 4, 2016 John Bancroft Interestingly, new originations increased slightly more than the 31.2 percent increase in new applications filed during the year.Read More
Short Takes: PHH’s Disclosure Was Long Expected / Doomed? / PHH Asks for ‘Confidential Treatment’ / Compliance Can Cost / Expanded HMDA Collections Coming Soon October 4, 2016 Paul Muolo and Thomas Ressler PHH also wants certain information kept confidential...Read More
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