More Red Ink for Ditech in 3Q and Another Potential Trip into Bankruptcy November 15, 2018 Paul Muolo Ditech said the company is in talks with “certain” corporate debt holders regarding another possible "court supervised" Chapter 11 process... Read More
JPM Packages Jumbos with Relatively High LTV Ratios in Unique MBS November 15, 2018 Brandon Ivey Moody’s Investors Service said 47.0 percent of the dollar volume of the loans in the MBS were underwritten by United Shore…Read More
Very Good News: MMIF Capital Ratio Improves to 2.76 Percent. As for a Cut in Premiums… November 15, 2018 George Brooks and Paul Muolo The fund's value has improved, but FHA premiums will not be cut...Read More
Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS November 15, 2018 Brandon Ivey and Paul Muolo If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.Read More
After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More November 15, 2018 Paul Muolo The megabank currently employs 27,000 mortgage-related workers or what it calls “team members.”Read More
Nonbank Profits a Mixed Affair in Third Quarter November 14, 2018 John Bancroft Ocwen Financial has not been a model of prosperity... Read More
A Brighter Future for Non-Agency May Translate Into Better Days for Trading Desks November 14, 2018 Paul Muolo Another trading firm that hopes to ride the non-QM wave is RAMS Mortgage Capital…Read More
Goldman Preps Large Non-Agency MBS Backed by Seasoned Mortgages Acquired from a ‘GSE’ November 14, 2018 Brandon Ivey Loans in GSMBS Trust 2018-RPL1 were acquired from a government-sponsored enterprise, though Fitch didn’t identify which GSE.Read More
A Blood-curdling Stat: Refi Index Falls to (Almost) 20-Year Low November 14, 2018 Paul Muolo One New Jersey-based loan officer told IMFnews, “It’s very un-nerving right now.” He noted that on a recent workday he had account executives from three different companies come into his office. “One of them, I hadn’t seen in a year.”Read More
Short Takes: MMIF Audit Due Thursday / Good News Expected but no FHA Premium Cut / Trades Voice Support for Kraninger at the CFPB / A Promotion at Stewart Title November 14, 2018 Paul Muolo and Yemeng Yang The groups expressed their view that Kraninger has the ability to lead and manage the CFPB and protect the financial interest of consumers.Read More