Jumbo-Conforming Spread Closer than Perceived October 24, 2018 Brandon Ivey During the financial crisis, average interest rates on conforming mortgages were much lower than rates on jumbos…Read More
Industry Consultant Dave Lykken: Fourth Quarter will be a ‘Blood Bath’ October 24, 2018 Paul Muolo Rick Roque, managing director of Menlo Company, sees tough times ahead as well...Read More
Short Takes: Honey, If You Put Any More Money Into that Mortgage Company… / Citadel (Officially) Branches Out into SBCL / $400 Million Next Year? / Fannie Mae Sees Ghost Companies / When Bullying Might Work (Trump and Powell) October 24, 2018 Paul Muolo Fannie Mae continues to mine for non-existent companies that might show up on the consumer loan applications submitted to its seller-servicers...Read More
Senate Banking Committee Hearing on GSE Pilots is Back On – Post Election October 23, 2018 Paul Muolo Cowen expects the next FHFA director to either terminate the GSE pilots or let them expire...Read More
CFPB Tweaks Ways to Convey Supervisory Findings October 23, 2018 Yemeng Yang In February, the CFPB issued a request for comment regarding its supervisory programs…Read More
Flagstar’s Originations Up Slightly in Third Quarter, GOS Takes a Hit October 23, 2018 Brandon Ivey Correspondent production accounted for 76.1 percent of Flagstar’s originations during the quarter...Read More
Short Takes: A 52-Week Low for Texas Capital / But Strong Earnings / Concern over the Future of Warehouse Lending? / TIAA’s Third Non-agency MBS / HomeStreet Sees Lower Production, Dark Clouds October 23, 2018 Brandon Ivey and Paul Muolo TIAA is preparing to issue its third prime non-agency mortgage-backed security of the year...Read More
Purchase Mortgages Dominate Jumbo MBS Issuance in 3Q18 October 22, 2018 Brandon Ivey Prime jumbo MBS issuance continues to be dominated by 30-year FRMs, with few interest-only products represented…Read More
Ginnie Mae to Require Servicer, Credit Ratings for Largest Issuers October 22, 2018 George Brooks Ginnie will soon require its largest issuers to secure servicer ratings and, in some cases, credit ratings…Read More
More Experimentation in Non-Agency MBS Market with Issuance from Verus October 22, 2018 Brandon Ivey The structure results in principal payments to subordinate classes earlier in the transaction…Read More
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