Short Takes: ‘Fix n Flip’ Lender Jordan Should Have a Record Year / Help Wanted: SVP of Sales / Nonprime Retail Firm Angel Oak Continues Expansion / Declining MSRs at Prospect Mortgage / Luther Hires Former Finance of America Official September 1, 2016 Paul Muolo Retail nonprime/non-QM originator Angel Oak Home Loans is continuing its national expansion...Read More
TRID Compliance Issues Disclosed on New Nonprime MBS from Angel Oak, Deephaven September 1, 2016 Brandon Ivey The originators believe they made a good-faith effort to address all TRID violations through the issuance of revised disclosures…Read More
Lone Star Prepares Second Nonprime MBS of 2016, Possibly the Largest Deal of the Post-Crisis Era August 31, 2016 Brandon Ivey The new security also will include mortgages originated by Sterling Bank & Trust…Read More
Some Lenders Expect to Set New Production Records in August August 31, 2016 Paul Muolo One originator described August’s activity as “busy, crazy busy…”Read More
Short Takes: In the Jumbo Space, Banks Were the Top Gainers / Dave Stevens Isn’t Interested in the Job, but … / Former Mortgage Chief Indicted August 31, 2016 George Brooks and Paul Muolo What Stevens describes sounds like something a trade group might want to do...Read More
The Six-Month Tally: FHA Production Up 8.4 Percent, VA by Almost 13 Percent August 30, 2016 George Brooks It was the highest three-month total for government-insured lending on record, although private mortgage insurance did more business in the second quarter than either FHA or VA…Read More
Subservicer Rushmore Launches Consumer-Direct Channel; Former Nationstar Exec Leads the Effort August 30, 2016 Paul Muolo While Rushmore’s headquarters is in Southern California, the production operation is based in Dallas, where Steve Mix worked for Nationstar.Read More
MBA: Servicing Losses Worsen by 36 Percent, But Origination Profits Rise 104 Percent August 30, 2016 Paul Muolo The results should surprise few: big gains on production, losses on servicing…Read More
Short Takes: Bank Says ‘We’re a Subprime Lender Too’ / No Ties to BofA / And the Big Three of Nonprime Lending Are… / REIT Exits NPL Market / Former MGIC Chief Lacy Dead at 71 August 30, 2016 Paul Muolo The largest nonprime (non-QM) lenders are likely (in no certain order): Citadel Loan Servicing, Deephaven Mortgage and Angel Oak...Read More
REIT MBS Holdings Up Modestly in 2Q16, but… August 29, 2016 John Bancroft Annaly Capital Management remained the top REIT MBS investor despite an 0.8 percent drop in its portfolio.Read More
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