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FHA Chief Galante Backs Senate Bill but Worries About Servicer Accountability

July 25, 2013
George Brooks
FHA chief Carol Galante expressed concern about the absence of any provision in the bill that would ensure servicer accountability for their performance.
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Short Takes: Delinquencies on OneWest MSR Portfolio Sky High / Norcom Tapping Mini-Correspondent Market / Flagstar Ramps Up Second Liens / Amy Brandt Moves Up

July 25, 2013
Brandon Ivey and Paul Muolo
Ocwen will have plenty of "high touch" loans to work on when it finally takes control of the OneWest portfolio. Meanwhile, the second lien market is heating up.
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Wells Fargo Pulls the Plug on Its Remaining Mortgage JVs, Citing Regulatory Oversight

July 25, 2013
Paul Muolo
Although Wells Fargo promised some JVs that everything was "fine" earlier in the year, the megabank is now exiting the joint venture space.
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Redwood Has Quick Turnaround with Latest Non-Agency Jumbo MBS

July 24, 2013
Brandon Ivey
The jumbo loans in the new Redwood deal are relatively young. But 72 lenders are feeding mortgages into the security.
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CFPB Accuses Castle & Cook of Paying 500 Quarterly Bonuses Tied to Loan Terms

July 24, 2013
Paul Muolo
If the CFPB is successful in its case against Castle & Cook, will the loan officers have to pay back the bonus money?
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Flagstar Wants to be a Major Player in Subservicing Arena

July 24, 2013
Paul Muolo
Is Flagstar about to pull off a massive sale of MSRs?
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PATH Act Narrowly Clears House Financial Services Committee

July 24, 2013
Charles Wisniowski
During the debate, Committee chairman Jeb Hensarling accused Democrats of protecting the status quo by defending the current Fannie and Freddie dominated regime.
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Short Takes: MGIC Increases Business by 45 Percent / More Foreclosure Reviews Coming? / Are MBS REITs Toxic? / Application Decline Not So Bad / Uncle Continues to Milk GSE Earnings

July 24, 2013
Paul Muolo
Not only have Fannie Mae and Freddie Mac staged a comeback, but so has MGIC. The MI giant finally turned a profit and sees better days ahead.
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Thanks to Higher Rates, Mortgage IPOs Could Prove More Difficult

July 23, 2013
Paul Muolo
The easy money may be over for mortgage IPOs, but that doesn't mean deals won't get done.
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JPM Ready to Hit the Market with Yet Another Jumbo MBS Deal

July 23, 2013
Brandon Ivey
The rating services have raised concerns about the representations and warranties on the new JPM jumbo deal as well as geographic concentration risk.
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