Both Sides of Mortgage Banking Posted Significant Profit Gains in 3Q16 December 28, 2016 John Bancroft JPMorgan Chase was the only firm that saw a decline in production-related revenue during the third quarter…Read More
2019: A $3 Trillion Year for Originations? December 28, 2016 Paul Muolo This year, fundings could reach upwards of $2.00 trillion based on activity through the first nine months of the year.Read More
Short Takes: Okay, Maybe Trump Can Fire Cordray / Relying on the DOJ’s Office of Legal Counsel / It all Started with PHH / New Turf for WVA Brokerage Firm / Distressed Mortgage Deal December 28, 2016 Brandon Ivey and Paul Muolo The Mortgage Center, a West Virginia-based loan brokerage firm managed by Marc Savitt, plans to open new offices in Florida and New Mexico early next year…Read More
Cowen: Trump Will Have Trouble Replacing Cordray as Head of the CFPB December 27, 2016 If Trump wants to get rid of Cordray, he will have to fire him “for cause,” says Cowen analyst Jaret Seiberg. Read More
Share of Loans that Close on Time Increasing December 27, 2016 Brandon Ivey Other loan types also generally showed improved closing times.Read More
Treasury Department Officials: Obama Supports ‘Explicit’ Guaranty on a ‘Defined Class’ of MBS December 27, 2016 Carisa Chappell and Paul Muolo Some GSE observers believe an “implicit” guaranty is the same thing as an “explicit” one…Read More
Short Takes: Gone for Now: Really Low Rates and No Points / Tracking the Yield on the 10-Year / Why Home Price Gains May Taper Off / Nonbanks Get FHFA’s Approval December 27, 2016 Carisa Chappell and Paul Muolo “Home prices cannot rise faster than incomes and inflation indefinitely.” – David Blitzer, managing director of the index committee at S&P Dow Jones.Read More
Broker Market Share of Jumbo Production Slips in 3Q16 December 22, 2016 Brandon Ivey The retail channel accounted for 91.7 percent of Wells Fargo’s jumbo production during the first nine months of 2016…Read More
CBO Says Fannie and Freddie Should Raise G-Fees December 22, 2016 Carisa Chappell Reducing subsidies also would help renew private sector participation in the secondary market, the Congressional Budget Office believes…Read More
‘Corker-Warner’ Co-Author Michael Bright, A Candidate for the Ginnie Mae Job? December 22, 2016 Paul Muolo This summer, Bright co-authored a GSE white paper with former Federal Housing Finance Agency Director Ed DeMarco…Read More