4Q16 So Far: Mixed Results for Banks and Mortgages. An MSR Hedging Gaffe for BOK January 24, 2017 Paul Muolo On the servicing front, BOK Financial revealed that 4Q16 income was reduced because it left servicing-related hedges on the books for too long...Read More
A Warning from MBA’s Stevens: An Industry Paradigm Shift is Underway. What to do About Refi-Heavy LOs? January 24, 2017 Brandon Ivey The MBA chief stressed that the market is set to shift from mortgage loan officers who can thrive as “gatherers” to a market that requires “hunters.”Read More
Suspending FHA Premium Cut is a Good Thing, Says AEI’s Ed Pinto January 24, 2017 Thomas Ressler At least some factions of the industry are happy about the FHA not cutting premiums, including Ed Pinto of AEI…Read More
Short Takes: Wells Fargo Accused of Improperly Charging for Rate-Lock Extensions / A Big Deal or Not? / The Golden West-Sandler-Wells Fargo Connection / UWM Chief to Educate on ARMs January 24, 2017 Paul Muolo and Thomas Ressler Some of the allegations surfaced in a Nov. 2016 letter sent to Congress by a former Wells LO named Frank Chavez...Read More
A Spike in FHA/VA Default Rates for 4Q16; A Three-Year High is Reached January 23, 2017 John Bancroft Meanwhile, the supply of Ginnie single-family MBS outstanding continued to set new records…Read More
Fannie and Freddie are About to Provide a Nice Revenue Gift to Trump Administration January 23, 2017 Paul Muolo In 2016, Fannie and Freddie guaranteed $973.72 billion of single-family loans, an 18.1 percent improvement from the year prior. Read More
Deephaven Bought $550 Million of Nonprime/Non-QM Loans in 2016 January 23, 2017 Paul Muolo Deephaven's CEO, Matt Nichols, is a former managing director at Goldman Sachs where he worked for 12 years.Read More
Short Takes: The MIP Cut: No Big Deal? / A True FHA Jumbo? / New MF MBS From Freddie Mac / Nice Earnings from MGIC / Annaly’s Chief Legal Officer to Retire January 23, 2017 Paul Muolo One loan officer said FHA should consider building a "true jumbo program that is exclusive of Fannie Mae and Freddie Mac…”Read More
Upwards of $20 Billion in Legacy Subprime Mortgages Could be Refinanced January 20, 2017 Brandon Ivey Black Knight studied loan-level data on outstanding mortgages to derive at its conclusion…Read More
Residential Production at CitiMortgage Down 14 Percent in 4Q16 January 20, 2017 Paul Muolo Citigroup’s showing in originations paled in comparison to some of its megabank competitors...Read More