Non-Agency MBS Issuance Nearly Doubled in 2018 January 7, 2019 Brandon Ivey JPMorgan Chase and Redwood Trust are the dominant issuers of non-agency MBS…Read More
What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director January 4, 2019 Paul Muolo One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus... Read More
Government Shutdown has Little Effect on FHA/VA Loan Programs (So Far) January 4, 2019 George Brooks No disasters have been reported yet, but some lenders are beginning to worry...Read More
MBS/ABS Market Ends Year with Lackluster Production. Weakest Reading in Five Years January 4, 2019 John Bancroft The biggest reason for the slump: the decline in single-family MBS production by Fannie, Freddie and Ginnie…Read More
Short Takes: The First Mortgage M&A Deal of the Year? / Mnuchin is Aware of the IRS Tax Transcript Problem / Will Government Workers Miss a Mortgage Payment? / Happy New Year from President Trump: Your Pay is Frozen / Tom Selleck Keeps Pitching HECMs / Ce January 3, 2019 Paul Muolo Celink, a servicer of reverse mortgages, has agreed to pay the federal government $4.25 million for violating the False Claims Act...Read More
A Very Ugly Application Reading for the Week Ending Dec. 28. Surprise? January 3, 2019 Paul Muolo Brian Benjamin of Two Rivers Mortgage & Investment in Red Bank, NJ, noted that since the bond market rally in late December, “I’ve seen a pickup in calls, but refis are still dead.”Read More
Stratmor Sees a Strong Year for Mortgage M&A. However… January 3, 2019 Brandon Ivey However, Steve Harris, president of MIAC Capital Markets, said he sees a weak market when it comes to “franchise” deals. Read More
A Not-So-Pretty 4Q18 for GSE MBS Issuance January 3, 2019 John Bancroft Fannie and Freddie continued to see a slippage in the purchase market…Read More
Short Takes: A Government Shutdown-Related Reminder from Fannie Mae / A Fundraising Record for MBA’s MORPAC / Rising Worries, Falling Rates / Nervous / AI Gets a New (Annual) President January 2, 2019 Paul Muolo and Brandon Ivey At press time, the yield on the benchmark 10-year Treasury was at 2.67 percent, the lowest reading in almost 12 months…Read More
Loan Officer OT Pay Case Sent Back to Lower Court, Dealing a Blow to LOs January 2, 2019 Brandon Ivey According to the ruling by the appeals court, Citizens pays its LOs $11.50 an hour along with commissions based on volume…Read More
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