Top Prime MBS Contributors are Mostly Banks February 8, 2017 Brandon Ivey Quicken Loans ranked third in terms of contributions to prime non-agency MBS…Read More
The CFPB Focuses on a Traditional Interpretation of RESPA Violations February 8, 2017 Thomas Ressler The CFPB said Prospect Mortgage entered into agreements to buy leads from more than 200 different counterparties, most of which were real estate brokers.Read More
Mortgage Hiring Increased in December, but Several Lenders are Taking a ‘Wait and See’ Approach February 8, 2017 Paul Muolo CMG Mortgage founder and CEO Chris George said that when it comes to hiring he's mostly in a "holding pattern" right now, with exceptions...Read More
Short Takes: Fix & Flip Lender Targets Multifamily Sector / Branching Out Into Florida / No Word on Carson and His Deputy / New Rez Tests ABS Market / Fed General Counsel Alvarez Announces Retirement February 8, 2017 Brandon Ivey and Paul Muolo The full Senate could vote on the Ben Carson nomination next week...Read More
Blackstone in Takeover Talks with ‘Fix & Flip’ Lender Jordan Capital February 7, 2017 Paul Muolo Over the past two years, the Wall Street giant has purchased a handful of nonbank lenders, including Gateway Funding...Read More
Fed Survey: Demand for Subprime Mortgage Credit Fell in 4Q16 February 7, 2017 Thomas Ressler The Fed LO survey does not include sentiments expressed by loan officers and account executives who work at nonbanks…Read More
Fitch Gives ‘Average’ Ratings to Nonprime Lenders Angel Oak, Citadel and Deephaven February 7, 2017 Brandon Ivey The assessment matches the rating service’s “grade” on Caliber Home Loans, which issued the first AAA-rated nonprime MBS backed by new originations.Read More
FHA Production Up 7.3 Percent in 2016; Banks Account for Just Two of the Top 15 FHA Lenders February 7, 2017 George Brooks Banks continue to pull away from directly funding FHA loans in the retail channel, citing the potential legal liability…Read More
Flagstar Makes a Bold Move: Agrees to Buy Stearns’ Correspondent Platform February 7, 2017 Paul Muolo With its consent order in the rear-view, look for Flagstar to do more deals, industry advisors told IMFnews...Read More
Short Takes: Blackstone’s Tentacles / MBA Sides with PHH in CFPB Case / Banks Might Ease GSE Standards / The ‘Silver Bullet’ to Replace LOs with Machines / Stonegate Hires SunTrust Executive February 7, 2017 Paul Muolo and Thomas Ressler Correspondent lending accounts for 21.4 percent of Stearns’ total origination volume, based on fourth quarter figures from Inside Mortgage Finance…Read More
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