Ginnie Mae MBS Issuance Nudges Higher in August but Trails 2017 September 12, 2018 John Bancroft Through the first eight months of the year, Ginnie issuance was down 11.0 percent...Read More
S&P Estimates $63B of CMBS Exposure to Hurricane Florence September 12, 2018 Yemeng Yang The CMBS transactions with the highest potential exposure are collateralized by shopping malls and office properties in Northern Virginia...Read More
Short Takes: Wells Fargo’s (Mortgage) Job Cuts / Annaly Poised to Buy More MSRs? / FHFA Seeks Comment / Eight Consecutive Quarters of Feeling Bad About Profit Margins / PenFed Hires a TV Journalist September 12, 2018 Paul Muolo Annaly may use the proceeds to fund additional acquisitions of mortgage servicing rights… Read More
Many Lenders Plan on Keeping Underwriting Standards ‘As Is’ September 11, 2018 Brandon Ivey One lender confessed: “I think we’ve been too accepting of credit problems and we are going to start pulling back now…”Read More
Eager to Buy Jumbos, Redwood Offers a ‘Working Capital’ Option September 11, 2018 Brandon Ivey During the second quarter Redwood deployed $40.0 million in customized financing for nonbanks…Read More
Short Takes: What Will Become of the GSEs’ CSP? / How Much Is it Worth? / Capital One Warehouse Joins MBA / Two Utah Nonbanks Celebrate Anniversaries / PRMI Hires Former Wells Fargo LO September 11, 2018 Paul Muolo The nonprofit exchange must pay for any “property” associated with CSS…Read More
Correspondent Channel a Flashpoint in Competitive Jumbo Market September 10, 2018 Brandon Ivey While total jumbo originations among the lenders increased by 37.1 percent on a quarterly basis, correspondent volume was up by 63.7 percent.Read More
HECM Production Gets Clocked in 2Q18. A Long Reverse ‘Winter’ Ahead? September 10, 2018 George Brooks Analysts blamed the reduction in volume on the new lower Principal Limit Factors...Read More
Mortgage Bankers Add Jobs, Brokers Trim Slightly September 10, 2018 Paul Muolo Jerry Selitto, president of Better Mortgage: “We continue to hire and we just opened our second California office in Irvine…”Read More
Short Takes: Time for Executives to Consider Their Options? / Tight Profit Margins Can Lead to ‘Internal Strife’ / AO Seeks Account Executives / Analyzing the Prospects for Filling the Fannie CEO Job / Milken Institute Hires SEC Commissioner September 10, 2018 Paul Muolo "As a result, at this time I’m receiving a larger volume of calls from execs seeking to explore outside opportunities.” - Rick GlassRead More
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