AIG Launches New Unit to Buy Whole Loans, Taps Street Vet For Top Job March 6, 2013 Paul Muolo AIG is now buying whole loans on a correspondent basis and will portfolio the product, at least for the time being.Read More
Short Takes: A 70-BP G-Fee May Lead to Private Conventional MBS / Impac’s Comeback Continues / Will Cordray Make the Cut This Time? / Ocwen Loses Chief Accounting Officer / MGIC, a Hot Stock March 6, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler Will a private conventional MBS market ever happen? If GSE g-fees keep rising, yes.Read More
Early Signs of Rebound For Piggyback Financing March 5, 2013 Paul Muolo It appears that 80-10-10 loan structures are making a comeback in the market, helping homeowners avoid paying private mortgage insurance.Read More
DeMarco Promises to Update the GSE’s Master Plan for Mortgage Insurance, Force-Placed Policies March 5, 2013 Charles Wisniowski FHFA director Ed DeMarco is promising that changes are coming to how the GSEs use mortgage insurance and force-placed insurance.Read More
Coming Soon From Fannie Mae and Freddie Mac: a 70BP G-Fee March 5, 2013 Paul Muolo The mortgage industry is bracing for a 70 basis point guaranty fee from Fannie Mae and Freddie Mac. Read More
Short Takes: Does IBM Have the FHFA MBS Platform Contract? / New Penn Expands its Jumbo Products / Another Subprime Capital Raise? / Stonegate Hires Former Homeward Executive March 5, 2013 Paul Muolo Speculation is mounting that International Business Machines may have the contract to build the new single-platform MBS unit for FHFA.Read More
Mortgage Profits at Banks Set New Record, but Peak May’ve Been Reached in 3Q March 4, 2013 John Bancroft The mortgage operations of banks and thrifts posted record earnings in 2012, but the momentum may be behind the sector.Read More
GMH Hires GMAC Executive as SVP of National Production March 4, 2013 Paul Muolo GMH Mortgage Services, which is barely five years old, has hired GMAC veteran Frank DiMaio to run national sales.Read More
Freddie Will Expand Financing Options to Move REO March 4, 2013 Charles Wisniowski Freddie Mac wants to move more REO properties and plans to expand out its stable of financial options and lenders.Read More
Short Takes: Fear Surrounding FHA Compare Ratios / Popular Bank To Unload $1 Billion-Plus of Delinquent Loans / CFPB About to Get ‘Trimmed’ / Delinquencies Continue to Fall at Fannie / Okay, Who’s Servicing Sen. Warren’s Mortgage? March 4, 2013 Paul Muolo and Thomas Ressler Some lenders are concerned about the coming 'FHA Scorecard' and the ability of certain large funders to make their numbers look good.Read More
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