Agency MBS Production Continued to Gain Momentum in July August 4, 2016 John Bancroft The three agencies securitized $43.09 billion of purchase mortgages last month, a 15.3 percent increase from June.Read More
Why Aren’t There More Subprime Originations? A Lack of Incentives for LOs, Perhaps? August 3, 2016 Brandon Ivey Caliber has loosened requirements for its nonprime production, making changes to guidelines every six weeks or so…Read More
Nationstar Whipsawed by MSR Marks, Loses $92 Million in 2Q; Revenue Rises Along with Originations August 3, 2016 Paul Muolo The company has been diversifying heavily into subservicing contracts and over the past year has struck outsourcing deals with USAA and Seneca Mortgage Servicing.Read More
Source of Funds: Top Reason for FHA Unacceptable Findings August 3, 2016 George Brooks Specifically, auditors either found undocumented large deposits or deposits that are from unacceptable sources.Read More
Nation’s Largest Table-Funder UWM Looking at a Record Year for Loan Production August 3, 2016 Paul Muolo According to Mat Ishbia of UWM, the loan broker segment is thriving.Read More
Short Takes: TIAA Buying EverBank? / PE Firms Own a Large Chunk of EverBank / Mr. Market Likes Nationstar Today / Ocwen Pays Down Debt / NovaStar Files for Chapter 11 August 3, 2016 Brandon Ivey and Paul Muolo At press time Wednesday, the share price of Nationstar was soaring...Read More
Fed LO Survey: Almost 12 Percent of Lenders Doing GSE Loans Loosened Credit in 2Q16 August 2, 2016 Brandon Ivey However, for the six other loan types tracked by the Fed, mortgage underwriting standards were largely unchanged…Read More
Average G-Fee for 2015: 59 BPs. FHFA Chief Tells Industry Agency is Consistently ‘Re-Evaluating’ the Charges August 2, 2016 Paul Muolo Compared to 2011, g-fees (which include LLPAs) have increased a whopping 126 percent.Read More
Freddie Mac Posts $993 Million Profit for 2Q16 Despite $2.0 Billion of Marks on Derivatives; G-Fee Income Up 17 Percent August 2, 2016 Paul Muolo Freddie purchased $91 billion of home mortgages from its seller/servicers in 2Q16, a handsome 31.8 percent improvement from the prior period.Read More
Slip Sliding Away: Securitization of ARMs August 2, 2016 Brandon Ivey An estimated $46 billion in ARMs were originated in the first quarter of 2016, down 2.1 percent from the previous quarter…Read More