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VA Production Drops in 1Q17 as the Refinancing Train Loses Steam

May 31, 2017
George Brooks
Freedom Mortgage, a nonbank, was the top VA originator in the first quarter with USAA Federal and loanDepot ranking second and third, respectively…
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‘GSE Patch’ Will be Key as CFPB Assesses ATR/QM Rule

May 31, 2017
Thomas Ressler
The GSE patch expires either in January 2021, seven years after the effective date of the ATR rule, or when the GSEs are taken out of conservatorship, whichever comes first…
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AIG Ramps Up Prime Jumbo Conduit, Prepares for Non-Agency MBS Issuance

May 31, 2017
Brandon Ivey
AIG buys jumbos servicing-released with Cenlar acting as the subservicer.
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Walter’s Share Price Crushed After Disclosure of Accounting Errors. DTAs Affected

May 31, 2017
Paul Muolo
Commenting on the latest revelation from Walter, Keefe, Bruyette & Woods said, “Given the lack of visibility, we maintain our underperform rating and $1 price target.”
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FIS Fights Back Against Ocwen, Says Lawsuit was Filed to Avoid Paying Invoices

May 31, 2017
Paul Muolo
In the lawsuit, Ocwen admitted that it had stopped paying some of the invoices sent to it by FIS because of what it called “improper and non-compliant billing practices…
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Short Takes: A Revolving Door for Mortgage CEOs? / The Fight Against an Industry Fee to Help FHA Tech / What is DOS? / Redwood’s Next MBS / SG’s Goal: A Rated Deal / Another New Branch for Castle & Cooke

May 31, 2017
George Brooks, Brandon Ivey, and Paul Muolo
“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.
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MBA, NAR, Others Identify HUD Rules They Would Like to See Changed

May 30, 2017
George Brooks
The Mortgage Bankers Association is seeking clarification of FHA liability standards to entice banks to resume their FHA lending.
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House Rules Committee to Meet Next Week on Financial CHOICE Act

May 30, 2017
Thomas Ressler
Perhaps, parts of the CHOICE Act might be siphoned off and made more politically palatable, such as regulatory relief for small community financial institutions.
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Walter Gets Increase in Warehouse Line for Reverse Unit

May 30, 2017
Paul Muolo
Walter’s reverse business posted a pre-tax loss of $5.3 million in the first quarter but took in total revenue of $22.5 million.
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Short Takes: Ocwen Registers More Stock / A 12 Day Wait to Announce / The Fidelity Empire / No Income Verification for Flippers / Norcom Hires Reverse Chief

May 30, 2017
Brandon Ivey and Paul Muolo
All Credit Considered Mortgage is offering investment-property mortgages that do not require verification of the borrower’s income or employment.
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