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Fewer Prepayments Expected on Recent Non-Agency Jumbo MBS

March 20, 2013
Brandon Ivey
Stable interest rates are making refinancing less attractive to the newest mortgage borrowers, which should keep prepayment rates very low.
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Use of Cash Financing Increasing, More Investors Buying Homes

March 20, 2013
Brandon Ivey
The share of cash purchases of homes increased for five consecutive months, hitting 32.3 percent in February, based on the three-month moving average.
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Mortgage Applications Tumble Again, Refi Share Falls for 10th Straight Week

March 20, 2013
Paul Muolo
Is the refinancing boom finally over? Some mortgage bankers are beginning to get nervous.
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Walter Gets Big Warehouse Line, Buying More MSRs, but Loses Money in 4Q

March 19, 2013
Paul Muolo
Walter Investment Management lost money in the fourth quarter and for the full year but that's because it's been gobbling up billions of dollars in mortgage servicing rights.
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Senate Banking Panel Approves Cordray to Head CFPB But GOP Isn’t Happy

March 19, 2013
Thomas Ressler
The Senate Banking Committee, as expected, approved the nomination of Richard Cordray to head the CFPB, but Republicans are not happy about the structure of the young agency.
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Short Takes: HUD Ready to Slash Contractors / CoreLogic Sees Improvement in Underwater Homes / Two Harbors Raises $673 Million / HSBC Planning the Mother of All NPL Auctions?

March 19, 2013
Paul Muolo
HUD may be forced to cut some of its vendors due to the federal sequester. Meanwhile, Two Harbors raises $673 million.
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Residential Loan Sales by Banks Increased 37 Percent in 2012

March 18, 2013
John Bancroft
Mortgage banking units owned by banks and thrifts generated $1.55 trillion in loan sales during 2012, a 36.9 percent jump from the previous year.
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Citibank Hikes Repo Line to PennyMac

March 18, 2013
Paul Muolo
Citibank continues to finance PennyMac and its affiliates. The bank recently increased a repo line it had with the publicly traded REIT.
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Short Takes: New York AG Schneiderman and Other AGs Want DeMarco Replaced Now / Federal Reserve Banks Tapped for CFPB Expenses / Hallmark Enters Wholesale Arena / Two New Wholesale AEs for 360 Mortgage

March 18, 2013
Paul Muolo and Thomas Ressler
Nine Attorneys General, unhappy with the pace of loan modifications, are calling for the immediate dismissal of acting FHFA director Edward DeMarco.
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Strong Recruiting Lifts a Growing Mortgage Master

March 15, 2013
Mortgage Master, a Walpole, MA-based super-regional lender and one of the largest privately held mortgage companies in the United States, is actively expanding into some key markets in the country, while out-racing behemoth competitor Wells Fargo to the top of the ranking of mortgage lenders in its home state. And the keys to success nationally and locally are the same: strong recruitment of top-notch originators and consistent exceptional service. “I think we’re out-running them [Wells Fargo]. They have ...
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